KYC AML SERVICE PROVIDERS FOR IDENTITY VERIFICATION AND RISK MITIGATION
Get better protection ever for your business financial assets right away from an industry dominant kyc aml service providers Shamla tech!
In today’s modern cum advanced world, there is an increased risk of fraudulence or scam threats for businesses that rely on the internet. Such threats stand real and unavoidable with a lot of harmful impacts over the business operations. The only way for businesses to safeguard them from such hacking attacks is the utilization of powerful KYC AML Service.
Yes, reliable KYC AML service providers are of prime importance for any legal business entity looking to on-board a broad range of customers from a global audience base. They can help businesses mitigate the financial risks by enriching the reputation level right from a legal regulatory standpoint.
What is all about KYC?
KYC stands for ‘Know your customer compliance’ which is nothing but a risk assessment procedure. It is a fundamental security practice for any kind of business inclusive of ICOs and financial entities to avoid losses resulting from illegal fund transactions.
It involves getting to know about the identity and the value that the customers hold, their financial information, and the associated risks.
Being an entrepreneur, Have you ever thought of knowing your customers? Yes, you ought to have a focus always on that. Else there might be a chance that you may get stuck with the security issues threatening the industry.
So, it is the perfect time to know your customers the most than anything to make your business get rid of all the reputational damages with ease.
Crucial components of KYC:
- CIP or Customer Identification Program:
Identity counterfeit becomes a major threat these days wherever we go. It is something more than an unbearable financial risk for entities that do businesses online.
In order to overcome this threat, CIP comes in as a necessary provision that needs to be followed by businesses globally. Of course, it mandates the aspect that every individual who is going to do business transactions in a particular system must have his identity verified with no deviations.
- Due diligence:
The first and foremost aspect for any business entity to be made for the progress is the research on the trust level of a potential client. This can be made sure only with the help of a critical component called CDD or Customer due diligence. It helps the entrepreneurs in eliminating the risks on behalf of the aspect of customer trust.
The three most important levels of due diligence include the basic customer due diligence, simplified due diligence, and enhanced due diligence.
- Monitoring of customers’ ongoing activities:
It is actually not that enough to just analyze your customers manually. Instead, you certainly need a special program that can let you monitor your customers in an ongoing manner. This is where the ongoing monitoring function finds its importance. It is responsible for making insights into the customers’ accounts and their respective transactions. Here the level of monitoring depends purely on the level of threshold that a customer’s account holds for risks.
Role of KYC in ICOs:
The KYC verification procedures have been coming up as a necessary standard today for the ICO token sale events and the cryptocurrency exchanges. With more and more people attracted right towards making cryptocurrency transactions, there is a rise in demand for the concept of customer identification. The benefits that the KYC checks bring in for ICOs include the safety and credibility with the investors’ assets.
What is all about AML?
Anti-money laundering abbreviated as AML makes us combat the financial crimes that happen accidentally when it comes to a business transaction. It is much better when compared to KYC in terms of operational efficiency and cost-effectiveness.
AML solutions are best known for their abilities in regards to customers’ data analysis and discrepancy detections. Besides, they account for the quick tracking of suspicious activities that can be done in a customer account.
Here in the procedure of AML, the verification is done usually with the help of eIDV, which is nothing but the electronic identity verification.
Shamla Tech – a versatile kyc aml service provider for all your legalization demands:
Are you an entrepreneur belonging to the Technology industry looking out for the best players providing world-class identity verification services online?
Join the professional team of Shamla tech to get done with complete fraudulence protection for your business.
Being one of the innovative entrants in the identity verification business space, Shamla Tech excels in bringing out the necessary standards of compliance for your business in no time to make it stand strong among its real-time competitors.
Unique features of our kyc aml service:
- Result-driven and customizable nature.
- Real-time business prospects.
- Enterprise-grade verification checks.
- White-label service integrations.
- API powered modules.
- Implementation of data analytics.
- Automated identity verification.
- E-signature services.
- Support for multiple jurisdictional requirements.
- Digital authentication and dynamic KBA.
- Comprehensive fraudulence monitoring.
- Industry best timeline practices for verification.
- Out of box AML screening techniques.
How we can help you in terms of bringing compliance?
Next-gen flexible KYC AML Service for extra-ordinary compliance: Our team can aid you in making your customers verify their identity proofs online with ease. Here the id proofs denote passport or driving license.
As an extensive KYC compliance service provider in the industry, we can make you link the data from a diverse variety of authentic sources to come up with an effective KYC strategy ever.
Our kyc aml services operate on the basis of the state of the art AI (artificial intelligence) technology and this is the reason that makes us extend our services across multiple languages and nations on the go with ease.
Our end-to-end authentication methodologies will let you streamline your business processes in a tremendous way so that you can be able to adhere to the industry standards with free of hassles.
By the way, being the leader of global security solutions, we think that we would be the best fit for your business, whether it might be a small or large (corporate) enterprise.