/Regulation & Compliance

Regulation and Compliance News and Resources

Melissa debuts mobile KYC app

Source: Melissa

Melissa a leading provider of global name, address, email, phone, and identity verification solutions to improve user experience and KYC (Know Your Customer) compliance, today announced the launch of Melissa KYC, a unified compliance toolset enabling businesses to verify the identity of their customers easily, securely, and conveniently.

This end-to-end identity verification solution includes ID card and document authentication, biometrics, and liveness confirmation to streamline customer onboarding and customer due diligence processes so companies can confidently adhere to complex government regulations.

Because Melissa KYC is ready to use, regulated businesses can avoid the design, build, and test operations that turn compliance initiatives into costly, time-consuming projects. “Whether verifying an address or working to prevent online fraud, the business process must be easily implemented and meet customer expectations for convenience and speed,” said Greg Brown, vice president, global marketing, Melissa. “Melissa KYC ensures that compliance activities are seamless for the business and create a straightforward, friction-free experience for end-users.”

The Melissa KYC mobile app captures identity documentation, either in-person or remotely, in under three minutes. Using sophisticated facial recognition technology, this authentication process consists of three simple stages: digitally scanning documents such as passports or national ID cards and checking them by optical character recognition; verifying an individual’s “liveness” by the blinking of eyes; and biometric comparison to confirm scanned photo and live individual are the same person.

Melissa KYC’s verification feature authenticates each submission; real-time, and multisourced data is used to standardise, correct, and match customer records globally, seamlessly validating customer or supplier data and identity. The company uses the business web portal to review the customer’s submission and generate and store customer due diligence reports to meet compliance requirements. These operations take place in seconds, reducing the strain of compliance on customer service and onboarding activities.
Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)

Featured job
All Jobs »