Banks and KYC
The pressure on banks and other financial institutes to make their KYC processes more secure is strong. At the same time, KYC should be as smooth as possible to create a good customer experience. ReadID makes it possible to bridge this dilemma through NFC first mobile onboarding; easy, safe & cost effective.
Banks are becoming mobile-first. A visit to costly branch offices should not be part of the customer journey. Challenger banks even do not have branch offices, and banks that do have them are often in the process of reducing the number of branches. ReadID delivers secure mobile onboarding by combining mobile identity document verification with facial matching. The combination: an unrivalled customer experience, highly secure, instant and at low cost. Customers can open bank accounts within a minute. Hard to believe? Check our customer stories below.
Anti Money Laundering
Fighting money laundering and terrorist financing contributes to global security, integrity of the financial system and sustainable growth, as the European Commission states it. Therefore, banks face strict laws to combat money laundering and the financing of terrorism. Compliance with AML is hard. Banks go through extensive reverification programs that are costly. ReadID can save cost by making reverification simple and safe without human interaction. A strong component in any AML process. ReadID delivers secure reverification by combining mobile identity document verification with facial matching, without the risk of unnecessary churn.
Customer case: Rabobank
Learn how Rabobank transformed its onboarding with ReadID and what other use cases create value for them.
ReadID for challengers
Paper: NFC First Approach to Mobile Onboarding
The pressure on banks to make their KYC processes more secure is strong. We describe how NFC can lead to an optimal mobile KYC process and what this means for Open Banking.