Banking & Financial Services
(Banking,
Securities & Fintech)
Account Opening
Verilocale's eKYC platform revolutionizes digital account opening through an integrated workflow combining AI-powered document authentication, biometric facial recognition, and advanced liveness detection. Our system performs real-time validation of government-issued IDs against global databases while ensuring strict compliance with AML/CFT regulations and KYC mandates. The automated risk scoring engine continuously monitors transactions for suspicious patterns, significantly reducing manual review workload. This end-to-end encrypted verification process establishes a secure digital identity framework that prevents synthetic identity fraud while delivering seamless customer experiences.
Key benefits:
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Enables instant and fully remote customer onboarding from anywhere in the world, eliminating branch visits.
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Guarantees adherence to global anti-money laundering and know-your-customer standards through automated compliance checks.
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Significantly reduces operational costs and fraudulent attempts by automating identity verification.
Loan Application & Approval
Verilocale transforms loan origination through our intelligent verification ecosystem that integrates document validation with credit assessment systems. The platform employs optical character recognition (OCR) and machine learning algorithms to extract and cross-verify applicant data across multiple sources, including banking statements and income verification documents. Our proprietary biometric authentication ensures applicant presence throughout the process, while behavioral analytics detect potential fraud patterns. This comprehensive approach enables financial institutions to automate underwriting decisions while maintaining robust security protocols and regulatory compliance standards.
Key benefits:
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Accelerates the credit decision process by seamlessly integrating identity checks with existing credit assessment systems.
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Effectively mitigates synthetic identity and application fraud through multi-layered verification protocols.
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Elevates borrower satisfaction with a swift, transparent, and entirely digital loan application journey.
Remote Customer Onboarding
Verilocale enables financial institutions to deploy fully digital onboarding solutions through our API-driven identity verification platform. The system incorporates document authenticity checks, facial biometric matching, and passive liveness detection to create trusted digital identities. Advanced features include database verification against PEPs and sanctions lists, alongside ongoing monitoring for enhanced due diligence (EDD) requirements. The platform's configurable rules engine allows banks to adapt verification workflows dynamically, ensuring both global compliance and superior customer experience across all digital channels.
Key benefits:
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Provides a complete end-to-end digital onboarding journey that is both secure and user-friendly.
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Offers a highly scalable verification infrastructure capable of handling fluctuating application volumes effortlessly.
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Boosts customer retention rates by delivering a seamless and modern first-interaction experience.
Investment Account Creation
Verilocale's capital markets solution delivers sophisticated investor identity verification aligned with SEC, FINRA, and global financial regulatory requirements. The platform integrates biometric authentication with document validation, supporting various investment instruments from equities to derivatives. Our risk-based approach (RBA) enables automated customer risk profiling, while the system's API architecture facilitates seamless integration with existing trading platforms and compliance systems. Advanced features include source of wealth verification and politically exposed persons (PEP) screening, ensuring comprehensive compliance while maintaining optimal user experience throughout the investment journey.
Key benefits:
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Facilitates immediate investor activation with near-instantaneous identity and document validation.
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Maintains the highest levels of security and regulatory compliance for sensitive financial accounts.
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Minimizes exposure to identity fraud and unauthorized account access throughout the investment lifecycle.
Digital Wallet / Payment App Registration
Verilocale enables fintech companies to implement robust customer identification programs (CIP) through our specialized digital wallet verification framework. The solution combines OCR technology for instant document data extraction with active liveness detection and facial recognition algorithms to prevent account takeover fraud. Our platform supports global regulatory requirements including PSD2 strong customer authentication (SCA) and money transmission laws, while maintaining frictionless user onboarding. The system's adaptive authentication capabilities enable step-up verification for high-risk transactions, balancing security with user convenience effectively.
Key benefits:
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Enables rapid user activation and transaction enablement through automated identity proofing.
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Prevents account takeover and misuse with continuous biometric authentication checks.
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Ensures full compliance with anti-money laundering regulations for digital payment services.
Crypto Exchange Onboarding
Verilocale addresses the unique challenges of cryptocurrency compliance through our specialized virtual asset service provider (VASP) solution. The platform implements FATF Travel Rule compliance alongside sophisticated blockchain analytics integration, enabling comprehensive customer risk assessment. Our system performs real-time sanctions screening and adverse media monitoring, while the advanced transaction monitoring module detects suspicious patterns indicative of money laundering or terrorist financing. The configurable rules engine allows exchanges to adapt to evolving global regulations while maintaining user privacy through our privacy-by-design architecture.
Key benefits:
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Achieves and maintains compliance with diverse international regulatory frameworks for virtual asset services.
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Effectively prevents money laundering activities by screening users against global watchlists and sanctions.
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Builds market trust and platform transparency through rigorous and verifiable identity assurance.