Company news

CySec CIF's: Use Bank Verification to automate Customer EDD

CIF's are aware of the stringent requirements necessary to meet Enhanced Due Diligence (EDD) under the CySec law, and that electronic verification as it is known in the UK is not a means accepted by CySec.

iSignthis has researched, developed and patented an automated method that performs enhanced due diligence, in accordance with Article 64 of the CySec law.

Furthermore, our EDD process also links payments from cards to KYC, and provides a means to reverse chargebacks in case of 'friendly fraud'.

Talk to us about how we can help automate your KYC and allow you to reach and remotely verify identity of customers domiciled in the EU, Australia, Brazil, Canada, Hong Kong, India, Japan, South Korea, Mexico, Singapore, Switzerland, South Africa and The United States of America.

The recently announced changes to Article 62 can be used to further advantage of CIF's, as customer on boarding can be completed in real time in conjunction with payment processing by iSignthis.

We are finalising arrangements to roll this out to a number of CIF's, and would appreciate the opportunity to discuss how we can assist you.

iSignthis will be exhibiting at the iFX Expo May 25-27 https://www.ifxexpo.com at stand 48, or drop us a note at contact@isignthis.com

 

Friday, 06 May, 2016 / 6:13

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://www.linkedin.com/pulse/cysec-cifs-use-bank-verification-automate-customer-edd-karantzis

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