For organisations, know your customer (KYC) is all about finding efficient ways to prove that potential customers are who they say they are. Organisations need secure and reliable information to ensure they are providing accurate services to their customers. For individuals, they want more ownership of their data and simple onboarding processes to ensure an exceptional customer experience occurs and trust is developed. Between this, an effective KYC solution should be in place to ensure these transactions between organisation and customer are secure and frictionless.
Banking CIO Outlook recognises this challenge, and hosts a distinguished selection panel comprising CEOs, CIOs, VCs, and their editorial board to select a list of the top KYC solution providers that leverage innovative technologies and strategies to enhance today's KYC processes. These providers showcase the ability to solve current challenges, relating to data security, accuracy of risk assessment, KYC compliance, and customer experience.
This year, SingleSource has been listing among the Top 10 KYC Solution Providers. To be acknowledged among the top 10 companies worldwide offering innovative KYC solutions is a true honour. This award provides financial institutions peace of mind that the SingleSource eKYC solution has been analysed effectively, and approved by other seasoned professionals in the field.
“What differentiates us is that, unlike our competitors who leverage publicly available data such as from social media sites to verify KYC credentials, our API-driven eKYC gives you access to numerous data sources from government registries including Thomson Reuters and Interpol,” explains Kelvin Chandran, SingleSource CEO.
The current SingleSource eKYC offering includes services like email and device verification, background checks, address verification, biometric check and identity verification. A holistic risk score covering fraud, identity theft, crime, sanctions and financial risk, is calculated from an analysis of the customers’ data points using proprietary algorithms and machine learning in SingleSource's Fraud Intelligence Engine.