KYC Batch Automation API
How the KYC Batch Automation API works
Data Submission & Collection: Businesses can submit batches of customer data to the API, including personal information such as names, addresses, and identification information.
Verification: The API processes the submitted data and verifies it against various golden source databases, such as government records, credit bureaus, and watchlists, to confirm the customers' Identities, addresses, contact data, and source of funds and ensure FICA compliance.
Compliance Checks: The API conducts compliance checks to ensure that customers meet regulatory requirements, such as anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, including adherence to FICA guidelines. Customer records are comprehensively screened against D&F -PEP, D&F -PIP, Sanctions, Enforcements & Adverse media lists globally.
Automatic AML Matching: The infinite brand caters for automatic matching of customers that are screened through the global AML lists, the API utilises a highly configured scorecard to automatically assign customer records to a matched, partial match or false positive/no result grouping.
Scoring and Risk Assessment: Our API can generate a risk score for each screened customer based on verified data and compliance checks, provided that businesses share their risk rules or RMCP with us.
Reporting and Monitoring: The API provides real-time updates and reports on the status of KYC requests, allowing businesses to monitor the verification process's progress and take necessary actions to maintain FICA compliance.
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Key benefits of the KYC Batch Automation API
Efficiency
Automating manual processes allows businesses to reduce the time and steps required for KYC compliance, enabling faster customer onboarding and decision-making while ensuring adherence to FICA regulations.
Accuracy
The API employs advanced algorithms and data matching techniques to ensure the accuracy and reliability of customer data verification, minimizing errors and false positives in FICA-related processes.
Cost Savings
Automation helps businesses lower operational costs associated with KYC compliance, such as labour and administrative expenses, while maintaining FICA compliance standards.
Regulatory Compliance
The API helps businesses meet regulatory requirements and standards, reducing non-compliance risk and potential penalties, including FICA regulations.
KYC Infinite Brand
KYC Infinite is a groundbreaking software that aims to combine customer experience and assist businesses in achieving FICA compliance seamlessly.
The Infinite brand comprises three modules:
- Infinite Live
- Infinite Batch
- Infinite Monitor
These modules are designed to work harmoniously to ensure complete FICA compliance across any organisation. They are industry-first, offering comprehensive compliance treatments that align flawlessly with FIC Legislation in customer onboarding and customer management spaces.
KYC Infinite is API-driven and boasts a single API per module that seamlessly integrates data, AI, decision-making, customer experience, and technology to transform FICA compliance from a business challenge to a business strength.
KYC Infinite is your one-stop solution, providing all the essential golden source data assets for due diligence and a wide range of alternate data sources for insights. It's particularly effective in addressing the needs of new-to-credit or thin-file consumers.
Identity validation
Address & Contact Verification
Source of Funds
AML screening – Automated decision matching
KYC Infinite Value
Infinite Live
Strategy Alignment
Complete Due Diligence
Customer Experience
Accurate Risk Rating
Premium AML Matching
Real-Time
Market First
Infinite Batch
Customer Centric KYC
Group Leveraged Insights
Shift in Effort Allocation
Seamless Screening
Single API
Secure
Infinite Monitoring
Perpetual KYC
Early Risk Detection
Opportunity Detection
Scaling Insights
Managing Risk
KYC Infinite – Live
Live provides real-time information and decisioning, catering to the dynamic needs of customers during the live (real-time) account opening process.
KYC Infinite - Batch
Batch offers complete automation of the file batch KYC process, with a focus on the golden source data processing, decisioning, and reporting.
This innovative solution ensures compliance with FICA and provides a secure, robust, and seamless platform for our customers.
KYC Infinite - Monitoring
Our solution-driven automation can host and maintain millions of records in a private petitioned cloud. We have provisioned delta values to be returned via API to ensure our clients can integrate into any platform or core system within their environment.
Interactive front-end dashboards are also available to ensure clients receive detailed reporting and Insights.
Our monitoring solution takes the hassle out of audits and compliance reviews, allowing clients to focus on leveraging insights for strategic business decisions.