IDnow allows an automatic identification verification answer for extremely regulated use instances, complying with Anti-Money-Laundering-Law in Europe, together with Germany.
IDnow, a number one European Platform-as-a-Service supplier for identification verification, is increasing its automated answer AutoIdent for extra extremely regulated use instances, together with areas regulated by the Anti Money Laundering Act (AML/GwG), corresponding to banks and monetary service suppliers.
IDnow AutoIdent is an AML Act compliant identification verification answer that operates as an automatic course of and meets the high-security requirement. It serves a variety of industries and use instances, corresponding to opening a checking account, signing a mortgage settlement, or onboarding a participant for on-line gaming. Taking benefit of a Qualified Electronic Signature (QES) and current on-line financial institution accounts of the consumer, it seamlessly blends state-of-the-art applied sciences with current identification and banking knowledge into a straightforward, safe and absolutely compliant identification verification course of.
IDnow AutoIdent together with QES, is licensed by a conformity evaluation physique and is authorised by an EU Member State National Regulator for issuing QES (Qualified Electronic Signature) in accordance to eIDAS Regulation Article 24 (1) d). The course of can embrace a one-cent-bank switch, turning it into a totally compliant distant onboarding answer in accordance with the German AML Act – Geldwäschegesetz (GwG), below Section §12 sentence 1 Nr 3. According to the AML legislation, automated identification proofing in reference to a reference transaction is permitted, pursuant to Article 32 eIDAS.
“Our perception in offering a complicated identification verification platform which will increase safety improves conversion and streamlines our clients’ onboarding course of throughout geographical borders drives us ahead. By making our automated answer AML-compliant with extra laws, our clients can provide a sooner course of and due to this fact a greater consumer expertise whereas guaranteeing excessive safety and regulatory requirements. This offers our clients, who function in a consistently evolving surroundings, the peace of thoughts and the flexibility to select the answer that meets their wants greatest,” says Andreas Bodczek, CEO at IDnow.
The IDnow platform, which incorporates AutoIdent as a constructing block, effortlessly orchestrates all essential parts right into a seamless, safe and AML-compliant identification verification.
Depending on the buyer’s wants, the onboarding course of affords whole flexibility. Further parts of the IDnow platform can added, e.g., eSign, the add-on for the digital contract signing opening up extra use instances corresponding to taking out a shopper mortgage in an entirely digital course of.
In latest years, IDnow has expanded its function far past providing particular identification verification merchandise and has grow to be an overarching platform for digital identities with a number of million transactions per yr, utilized by over 800 clients worldwide. In 2021, IDnow acquired the French market chief for identification expertise, ARIADNEXT, and the German identification Trust Management AG, enabling IDnow to provide its clients one in every of the broadest identification options by means of a single, built-in platform.