It pays to be trUUthful
truuth KYC is a service that digitally verifies the identity of customers and/or employees during the onboarding process to identify and prevent potentially fraudulent behaviour. Complying with Know Your Customer (KYC) processes is a regulatory requirement for several industries (e.g. financial services) and is considered good practice for onboarding customers to most services.
How does it work?
Users download the truth app: Typically users are sent an email request and click on a link in the email that takes them directly to the app. One click and the app is downloaded.
Scan an identity document: Users can choose to verify their identity by scanning a range of different identity documents including passport, drivers licence, Medicare card and birth certificate.
Take a selfie: Users are guided to take a selfie to prove they are human and that their image matches their ID document.
Top Use Cases
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Why truuth KYC?
truuth KYC uses Machine Learning (ML) to perform multiple tests of authenticity on the identity document scanned by the user including checks for holograms, microprint, watermarks, fonts, and signs of manipulation. We check that identity details such as name and date of birth are a match across all documents and test the photos against the given face scan.
Enhanced User Experience
truuth KYC typically takes less than 3 minutes to complete. It does not require face-to-face sessions. Users can choose to securely store the verified KYC outcome in the form of a digital identity so it can be re-used for future verifications. Companies can configure their user experience according to the level of security they require.
Reduction in Total Cost of Ownership
truuth KYC reduces the cost of onboarding a customer to as little as $2 which is substantially lower than face-to-face channels and competing digital solutions. Our security features also reduce the risk of facing costs associated with identity fraud and data breach.