Horizon adds new feature to KYC/AML onboarding app ‘KYCware’
New geotagging feature enabled to simplify identity verification process for users
By Vanessa Malone
Horizon’s exceptional team of software engineers is continually working to enhance our next generation compliance solutions for our global client base.
We are happy to announce a new geotagging feature added to our white-label identity verification app, KYCware, which works in conjunction with a listed mailing zipcode to verify users’ places of residency.
A common request during the identity verification process is to submit a utility bill to establish proof of address. We believe this type of requirement is becoming outdated. These documents can be faked, people are moving more frequently, and notably, individuals in some countries don’t receive utility bills in the same way that U.S. residents do.
As a global brand, Horizon is thrilled to introduce a solution to address this accessibility issue. Our identity verification app now gives our clients’ users a more userfriendly way to establish their proof of address with a GPS-selfie taken during the first step of the identity verification process and a mailing zipcode.
How KYCware’s geotagging feature works:
First, KYCware requires that location services are enabled on your smartphone.
Next, when you take a selfie in the first step of our KYC identity verification process, location information is embedded in the image.
Lastly, when your KYC identity verification details are uploaded, the verified reviewer has three links: (1) the location of the selfie, (2) the location of the user’s supplied address, and the link to show the route between (1) and (2).
If the distance between the (1) and (2) is within the agreed upon acceptable distance for proof of residency, the user can be approved.
To further enhance identity verification, the GPS-selfie is also verified against the KYC submission’s live video-interview for lighting, clothing etc., to ensure that the video and selfie are shot at the same time.
Choosing KYCware for your identity verification needs:
Identity verification is a crucial process for financial institutions to be sure that the customers they’re working with are who they say they are.
Finding an onboarding solution that meets compliance requirements, stringently protects customer data, decreases back-end review time, and provides a seamless user experience is no small feat.
KYCware delivers financial institutions a next generation identity verification solution to help fulfill KYC/AML compliance requirements.
A few KYCware highlights:
- Horizon is listed in the FINRA Compliance Vendor Directory.
- White-label onboarding and identity verification technology, ensuring an on-brand experience for users from the start
- Advanced ID, document and identity verification technology includes antigaming features, MRZ scanner, and liveness detection
- Auto-adjusting questions and forms depending on user entry and jurisdiction
- Continual AML screening against a proprietary database of global sanctions, Politically Exposed Persons (PEPs) and watchlists
- All KYC/AML transactions are logged on an unalterable storage medium
- Data is never saved to disk on our servers and never outsourced to third parties, period.
Horizon’s solutions and methodology have been utilized by securities issuers and other heavily regulated entities across the U.S. and Europe, so we know a thing or two about staying compliant and pride ourselves on going beyond the standard KYC identity verification methods to ensure your users and brand reputation are safe.