Identity Verification

Digital Know Your Customer solution for Banks, payment service providers and other digital players

Onboarding

Old ways of identifying customers were never designed for modern internet businesses. SAFENED offers a fully digital onboarding solution for natural persons and corporates powered by advanced machine learning algorithms. Use SAFENED to identify customers, increase trust and prevent fraud.

SAFENED offers its digital onboarding solution to European (digital only) banks, PSPs, online marketplaces and other players affected by 4AML and GDPR to optimize their identification processes in a compliant and cost-effective manner.

Identity Verification Challenges

In the digital age, confirming the true identity of a client is vital to comply with regulations, to build trust and to prevent fraud.

Experience

Clients expect a smooth user experience and streamlined process for providing information and accesing a digital account.

Compliant

Compliance with 4AML and GDPR are increasingly challenging and costly.

Efficient

With uncoordinated Know Your Customer (KYC) processes across the industry, there is a lack of knowledge sharing (e.g. shared fraud database) which leads to inefficiency.

Optimized for Digital Only

Fintech driven, fully digital, proprietary solution which can be tailored to the exact needs of each partner and which incorporates external database checks where relevant.

Extensive

Over 100 automated checks, which are continuously expanded and improved using machine learning and big data techniques.

Global

Global coverage for natural persons and corporates (subject to threshold volumes).

Automated

Automated verification process allows for virtually instant decision making, with an EU based team of qualified staff available to review exceptions and a statistically relevant sample of automated approvals.

Reliance

For financial institutions, SAFENED can offer KYC Reliance pursuant to EU Directive 2015/849 (i.e. not merely providing the tools to onboard customers, but rather providing a fully compliant end result).

Legal & Compliance

SAFENED is authorised and regulated by the Financial Conduct Authority as a Payment Institution under the Payment Services Regulations 2009 (Reference number: 705849) and passported throughout the European Union.

For the identification and verification of customers, SAFENED adheres to the The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (PSR 2017) which is the UK implementation of the fourth AML Directive.

Furthermore as a payment institution, SAFENED adheres to the Payment Services Regulations 2017 which is the UK implementation of PSD2.

In view of the personal data that SAFENED obtains for the digital onboarding solution, SAFENED has implemented the strictest standards on both its IT platform and its operations. This includes segregation of duties, full encryption of client data, access to data on a strict need-to-know basis and state of the art IT security. As such SAFENED has chosen to already adhere to the upcoming GDPR.

Last but not least, SAFENED has obtained an ISAE 3402 declaration -the international assurance standard for outsourcing- which can be shared with (prospective partners).

If you are interested in SAFENED's services, please contact us at info@safened.com.
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