ComplyCube, the London-based AI company has unveiled Flow™, a cloud-based Know Your Customer (KYC) solution that enables businesses to reduce their AML/KYC compliance and fraud risks significantly. The solution will complement ComplyCube’s market-leading Software as a Service (SaaS) and API platform.
The Global KYC firm has recently reported a growth of 500 percent growth of biometric KYC business. The launch of Flow™ capitalizes on the current biometric security boom amid the substantial global digitalization drive caused by the pandemic.
The Digital Identity firm says that Flow™ is a GDPR-compliant web-based solution that businesses can start using “in minutes”, with no coding needed. It allows people to verify their identities by following a secure URL.
The highly customizable Flow™ guides users through a slick User Interface (UI), securely collecting identity documents, biometrics, and proof of address – all in less than 30 seconds. Once documents and biometrics are submitted, Flow™ automatically conducts authenticity and identity checks and sends real-time alerts to the business indicating any red flags and providing rich explains.
ComplyCube’s Flow™ integrates cutting-edge certified liveness detection technology, which prevents face biometric spoofing and presentation attacks, including 3D Masks, without additional user friction. It also allows companies to leverage a detailed audit trail for compliance purposes in line with the Financial Action Task Force (FATF) recommendations.
Flow™ will appeal to businesses that are still undertaking identity verification checks manually, with documents sent via email, which is costly, time-consuming, prone to human error, and not adequately secure. Similarly, businesses with legacy KYC solutions can leverage Flow™ to simplify onboarding processes and reduce the Total Cost of Ownership.
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