APYLiD - Another piece of the puzzle to enable and end to end
electronic journey within finPOWER Connect
APYLiD is an electronic verification system which collects necessary and supporting information to verify the identity of prospective customers. APYLiD uses biometrics, OCR (optical character recognition) and trusted data sources to validate customers names and addresses. Verifying the captured data against multiple trusted sources ensures clients will meet compliance regulations, including obligations under global Anti-Money Laundering (AML) legislation.
Negating the requirement to have signatures witnessed and documents certified by appropriate legal entities, APYLiD provides a flexible, customisable and integrated digital onboarding solution, that is simple and quick to complete, enabling the capture of customer information needed.
APLYiD does not store personal information, but provides the mechanisms required to complete customer onboarding checks. All personal information is encrypted and data is temporarily hosted in a protected server until verification is completed, then the data is permanently deleted.
APYLiD's own standalone portal and flexible open API has afforded an optimal end to end customer onboarding solution for our clients utilising finPOWER Connect's Web Services and Automation and Credit Enquiry Add-Ons. APLYiD can be launched directly from a client's profile account manually, or as part of a Workflow's Decision Card or Rule.
The Business user performs a standard Credit Enquiry on their customer by selecting "Aply" as their Credit Bureau Service, then checks the customers name and mobile phone number. The customer receives a link via text message which steps them through the document scanning and biometrics process without the need to download an "App". The link is sent via Text to enable the customer to access their camera in order to complete the biometric process.
- The customer is prompted to take photos on their smart phone of their New Zealand or Australian drivers licence or their passport.
- APYLiD extracts information from the photos that have been taken and gives the customer the opportunity to correct any errors.
- The customer will be prompted to enter their current residential address.
- The customer is then prompted to take a short video of themselves (i.e., the front and side of the face).
- APYLiD's system matches the video against the photo on the customers driver licence or passport.
- APYLiD checks the information provided by the customer against various sources, which includes databases of government and financial institutions in New Zealand and Australia.
finPOWER Connect receives the results once the customer has completed the steps required. The screen shot illustrates the outcomes achieved for Biometrics, Tampering Checks, Location and the PEP Watch List.
APLYiD also creates a permanent record, which is reported in PDF format, and resides on the Client Logs. The report depicts the following:
- An overview, including whether is Outcome is a Pass or Fail
- Submitted Data
- ID Document Data
- A copy of the ID Document
- Tampering Checks
- APYLiD AML
- A Summary of the data source searched
- Face Scan and how the pictures compare
- Face match and "Liveness" breakdowns
Using world class facial biometric technology and machine learning to analyse multiple points on the face, and capturing accurate trusted data sources, APYLiD ultimately affords your business the confidence that your customer is who they say they are.
MBSL believes APLYiD bring efficiency to a new level of simplicity, and is an impressive solution that assists with meeting AMP compliance obligations and affords customer satisfaction. Visit https://www.aplyid.com for more comprehensive information on how their product captures Biometrics.
Source: Author - Anita Cossey of Intersoft Systems Limited "APLYiD:; New AML Product within finPOWER Connect " (Blog), 4 August 2020
Need MBSL to arrange a demonstration and/or assistance to setup and utilise APYLID's Biometric process in finPOWER Connect ?
