eKYC for Banks & Financial Services
Stronger regulatory compliance without an army!
Despite a rapid shift to digital and mobile in more recent times, many onboarding platforms still rely on outdated processes. These not only limit your potential, but hinder customer experience too.
iMeta provides an end-to-end eKYC solution which combines your existing in-house data, vendor data and customer self-service, so you can accelerate compliant customer onboarding and minimise manual effort for both you and your customers.
Customers save time by signing up online to a self-service portal where they can easily submit their details and identity documents.
Because iMeta re-uses centralised data it already holds, and can connect in real-time to external data sources, the data can be pre-populated, quickly checked and verified and the customer’s risk profile and rating can be determined.
What is eKYC?
eKYC simply stands for ‘electronic know your customer’. With the majority of customers now searching for your services and products through digital channels, it’s vital that businesses make the customer journey more efficient by integrating digital processes into the workflow. This is where iMeta eKYC comes in, allowing you to carry out faster, more accurate background checks which in turn allow your customers to access your services more quickly.
Features & Benefits of eKYC
iMeta is a specialist in providing effective eKYC for banks and other financial services. iMeta eKYC delivers many benefits to both the firm and customer – ensuring the relationship gets off to a great start:
- Always accessible; customers can sign up from anywhere, at any time that is convenient for them
- Full compliance; firms can ensure regulatory compliance with accurate up-to-date data at all times
- Single client view; data can be re-used to ensure single source of truth in one place across organisation
- Increased efficiency; rapid onboarding times = faster time to revenue
- Accurate, reliable data; eliminates mistakes made by manual error, as there is no need to duplicate processes and rekey same information
- Real-time updates; improves efficiency and control of data through online registration and straight through, real-time processing and verification of KYC data
- Reduced costs; eKYC enables greater costs savings due to automation and the reduction in repetitive data processing
- Greater control; gives you better control over data across organisation with a single source of truth for each client.
- Clarity; delivers transparency and promotes collaboration across business.
- Greater insight; creates a solution to facilitate better business decisions, based on a true view of accurate data
- Enhanced customer experience; improves customer service which leads to enhanced reputation. This in turn leads to a more competitive and agile organisation
iMeta is trusted by many top tier banks to manage their client journeys, from onboarding through to offboarding, and everything in between.
Why your data is better with iMeta:
Configured by you
iMeta's platform is built with a highly flexible data model and business rules engine that can be configured by you, so you can comply with new classification and regulatory requirements
Integration readiness
iMeta can integrate with numerous complex data sources - external data providers and industry utilities, and internal disparate transaction and records systems; all across multiple jurisdictions, business lines, product areas and roles
Re-usability of data
Data can be re-used across the business - across multiple roles, relationships, hierarchies and jurisdictions, so customers can be identified quickly. This also reduces the need for customers having to repeatedly provide their information
Data mastery
iMeta enables you to unlock your data and re-use it. As the platform is designed around your data rather than process, it understands what information is required and builds the process to collect what is missing
Automated processes
Automates key processes by eliminating unwanted processes and only using the information required. iMeta streamlines your client data management - reducing time and money wasted on unnecessary tasks
Validated Data
Delivers assured continuous, refreshed and validated data. iMeta delivers 'one-touch' data in one central place, connected for your whole organisation to use at any time