Truedentify Fintech Verification Flow

Background

As one of services AML System provides a verification onboarding. The most critical part is how clients will submit documents and prove their identity. For fintech and banking apps this is the weakest spots where around 65% of the clients lose interest and drop the app.

Problem

Identity verification is one of the most tedious and slow part of on boarding. It requers different amount of data and questions from clients.

Solution

Make the onboarding based on different types of client, clear requirements and simplify the flow. In most EU countrues we manged to get to three steps: basic information, photo of the ID and selfie. The rest is done by AML System internal systems or by technologies in the backend.

To showcase the process was developed a demo video.

The flow can be altered depends on a country, location or type of client. It changes on the go and adds steps or requests. For example, for clients in CIS is requerd to ask for two documents. Based on nationality – the second document is added in the flow.

For corporate clients the process is more complex and requers 12 steps. It covers shareholders, directors and company’s info.

Demo apps can be downloaded in Google Play Store and App Store. For web flow please request a demo from AML System.