in this video we'll demonstrate the KYC verification process in just three steps but before let's get to know what is K YC k YC or no your customer is a regulatory requirement which the banks and financial Institute's need to fulfill by identifying their customers kyc verification helps online businesses in verifying their customers preventing online fraud and financial crimes and complying with kyc and AML regulation let's see how online merchants can perform kyc process in three steps first collect personal information from customers during online account registration this step lays the foundation of the entire kyc verification
process here personally identifiable information or PII includes the following first name and last name date of birth email address social security number driver's license number and financial information such as credit card info collect this data and ensure that it is safely stored under the gdpr guidelines or the law of your respective jurisdiction second ask the user to provide the supporting document this document can be a passport an ID card a driving license or a credit or debit card the information from this document is extracted after identifying the type of document this step is important since
it ensures that the user is the one who he says he is its clerk verify the information entered by the user against the data on the provided document this step ensures that the user has entered the correct information the data from the test document is extracted using optical character recognition or OCR technology this data is then verified against the information that the user has entered if both match the user is verified let's see how shifty Pro performs kyc verification through a demo first select the verification service then click Next select any one of the two
verification modes select YES for OCR feature for information extraction select the country click Next after selecting the document type select the verification details to be verified against it click finish then click Next in the next step upload a clear picture of the document click continue to proceed make sure that your document contains the following information wait for image to upload now enter the required information into the fields and click Next wait till the document is verified with just one API integration your business can comply with global and local AML regulations with 1700 plus data sources
that include AML watch lists sanctioned lists and politically exposed person records real-time AML screening is performed to identify the risks associated with customers this helps you build a clean customer base free of money launderers and teres financers with shifty pros seamless identity verification solution you can verify billions of users around the globe we support 3,000 plus ID documents in more than 230 countries and territories and in 150 languages we have satisfied clients in every major industry including the finance industry ecommerce Real Estate's and many more shifty Pro enables businesses to combat online frauds and payment
scams with robust identity verification services that fulfill kyc and AML requirements for a 15 day free trial visit WWF t procom [Music]
