USE CASE

Know Your Customer (KYC) ID Verification

Strengthen KYC compliance with HID’s ID document reading and verification technology, ensuring seamless screening against identity fraud and streamlined data capture.

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Fortify In-Person KYC Practices

Stringent Know Your Customer (KYC) regulations mandate robust identity verification to combat fraud. However, traditional manual checks of ID documents are error-prone and inefficient — causing delays and frustrating customers. HID’s document reading technology delivers a better way. With almost instant biographic data capture and ID document authentication, HID technology can help verify identities in seconds with data accuracy.

Common KYC Terms

KYC means Know Your Customer. However, the process is not only defined as KYC. It may also fall under one of the following terms:

Anti-Money Laundering (AML)

AML policies drive financial integrity; KYC is key in its initial phase for institutions combating financial crimes

Customer Due Diligence (CDD)

CDD supports KYC by continuously evaluating customer risk through transaction monitoring and regular reviews

Enhanced Due Diligence (EDD)

EDD comes into play in high-risk scenarios necessitating deeper research or additional documentation

Know Your Guest

Used in the hospitality industry when guest identity verification is required

Know Your Employee

Used in recruitment when authenticating the identity of potential hires

The Value to Businesses

With the prospect of fines and even criminal prosecution for failing to comply with legislation, it’s only natural that the demand for know your customer practices is sweeping through various industries.

Financial Services

Adhering to anti-money laundering and counter-terrorist financing regulations

KYC for banks

Casinos and Gaming

Enabling confirmation of legal gambling age, streamlined player registration, addiction prevention measures and fraud controls

Retail

Following regulations for age-restricted product sales and preventing fraud in high-value transactions

Hospitality

Supporting Know Your Guest practices to comply with safety regulations, prevent unauthorized property access and provide enhanced service at check-in

Recruitment

Ensuring legal work authorization for compliance, preventing penalties and supporting vital security screenings to safeguard companies

Real Estate

Complying with AML laws preventing criminals and sanctioned individuals from laundering illicit funds through high-value property purchases

ID Verification for KYC

Identity verification is a critical step within the in-person KYC process to ensure the current or prospective customers are who they claim to be.

HID’s ID scanners and verification software enable the system to carry out checks on KYC documents, such as passports or driving licenses, in seconds.

How ID Scanners Improve In-Person KYC

ID scanners and document readers provide dual advantages: automating data capture and enabling fraudulent documents to be detected, leading to the following benefits:

Seamless Integration

Enhance operations by seamlessly transferring document data to electronic systems for screening

Increased Data Accuracy

Reduce the risk of error associated with paper-based checks and false positives during screening

Enhanced Sustainability

Eliminate the need for paper usage, manual copying and storage of ID document copies

Improved Customer Experience

Remove the need for an ID to leave the customer’s view and speed up ID checks

Reduced Staff Burden

Eliminate specialized user training, enabling staff to perform KYC tasks with confidence

Compliance Confidence

Conduct KYC checks under local regulations

Unlock the perfect ID scanner for KYC

Seeking an eKYC Solution?

Streamline customer verification swiftly and securely with HID’s digital ID verification solution leveraging cutting-edge biometric facial recognition technology — the perfect solution for digital businesses that need smooth customer verification.

Explore HID’s AI-powered technology for streamlined digital onboarding

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