Know Your Customer and Anti-Money Laundering Compliance Solutions
Comply with strict KYC regulations while preventing money laundering and removing onboarding friction.
The Most Flexible Way to Know Your Customer
Know Your Customer (KYC) laws and regulations require financial institutions to verify customers and clients before conducting business.
Banks and other financial institutions need a cost-effective way to comply with KYC laws and protect themselves and customers from money laundering, fraud and more.
But doing it properly requires a great deal of due diligence and can be resource-intensive without help.
Veratad’s identity verification solution provides a flexible way for you to verify your customers and get KYC compliant.
Why KYC & AML for Remittance?
What Is AML?
Anti-money laundering procedures are designed to stop criminals from disguising money gained through illegal means as legitimate income.
There are a number of laws, regulations and procedures classified under AML. Those laws and regulations require financial institutions to do their part to verify their customers’ identities and report any suspicious activity.
What is KYC?
KYC is a measure of AML that requires your financial institution to verify the identity of your customers either before or during the time they start doing business with your institution.
KYC is a legal requirement stipulated under AML.
What KYC and AML Means For Your Business
Anti-money laundering procedures are designed to stop criminals from disguising money gained through illegal means as legitimate income. There are a number of laws, regulations and procedures classified under AML. Those laws and regulations require financial institutions to do their part to verify their customers’ identities and report any suspicious activity.
Create Your Own (Approval) Rules
Veratad enables you to set your own verification rules based on your company’s needs and risk tolerance.
Our implementation team guides you through setup to follow industry best practices for OFAC compliance.
Start Verifying
Your Customers
Request your personalized demo today!
