Verification levels during customer lifecycles 

Verification applied on various levels makes the ob-boarding process easy for the customers. It makes the company less likely to lose clients by initiating them to basic services with minimum verifications. As they upgrade to a higher level of services which involves financial transaction face authentication might be added as an added security layer. 

Verification level build-up and customisation with Sumsub

For companies that want to build verification flow, keeping in mind the needs of the customer can do so with the help of Sumsub. One can choose from their wide range of options and build it with preset triggers and conditions in place.  

  1. Pre-Screening- Pre-screening need not provide detailed information. At the time of registration, the user can simply offer their name and country of residence as check-in information. This initial stage can be tailored according to the needs of the company. One can add client’s phone number or email address as one of the compulsory information during registration as well. 
  1. The Verification Stage- This crucial stage of authentication is undertaken through three steps. Once the general document and information is uploaded by the client, Sumsub would verify it via the following steps.
  • They examine the imagine for authenticity 
  • Integrity of the image is checked thoroughly 
  • The data provided on the document is validated through cross-checking from external sources. 

Sumsub does not stop at validating data through a close-up checking. They also refer to external databases to double check whether the information provided is authentic or not. This does not apply to all nationalities but many of the countries come under this option. 

  1. Liveness Technology- The Liveness technology is used by Sunsub to ensure that the client is a real person and not a doll, or paper mask or any artificial entreaty. It also makes sure that the account that is being made is legitimate and prevents any duplicate account within the system. This technology can be applied either during the on-boarding process or during the initial stage of account access. 
  1. Proof of Address –FATF requires proof of address of the clients during the ob-boaridng process. Sumsub makes it their policy to only receive POA documents that have been issued within the last 3 months of filing and then they cross-check that data. 
  1. AML screening -AML screening informs sumsub whether any of their customers is being monitored by any watchlist or sanctioned list around the globe. It not only notifies during the on-boarding process but keeps them updated with any changes made in the sanctioned list around the globe. 
  1. Questionnaire –  Sumsub allows you to customize any length of a questionnaire to gather more information from their client. It mostly collects KYC data but often demands supporting documents to validate their client identity.  

The Transaction Stage

The transaction stage mostly provides an added layer of security during the process of financial transaction. 

  • Bank card verification – Bank cards are verified for security purposes and allows a safe on-boarding process for the clients. 
  • Face authentication- Face authentication during financial transactions allows a secured and safe monetary exchange.  
  • Risk assessment in crypto transactions – Risk assessment in crypto transactions will let their clients know the risk associated with a certain financial exchange. 

These are some of the Sumsub offers the best in industry customization and security plans for building your own verification flow.

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