MEETING REGULATORY REQUIREMENTS FOR THE PAYMENT SECTOR
“Payment operators need to protect their businesses to ensure their platforms are not used for money laundering or other illicit activities”
Payment operators need to comply with the same high standards as banks and other financial services companies. Regulators demand that data and documents are gathered about the customers to ensure their identity, and to store these documents securely.
Knowing your customer is not only a regulatory requirement. It is also critical for the business to avoid your platform being taken over by money laundering and other illicit activities. Your reputation is your business - to work with you, banks must trust that you comply with all local and international regulations
Now with ML Directive 5, payments as little as 50 euros need to be fully qualified.
- Ensures a comprehensive identify check
- Provides access to reliable AML screening
- Reduces hours of administration to minutes
- Minimises error-prone, expensive manual processes
A COMPREHENSIVE SOLUTION, AT THE RIGHT PRICE
Knowing who is using your platform is the first step in ensuring that it is not misused. Dokstor provides an enterprise solution to KYC On-Boarding, but at a reasonable price point.
Dokstor performs PEP and sanction checks automatically as part of the initial On-Boarding process, ensuring that your customers are who they say they are and that they are good, not bad, actors. These integrated AML checks facilitate the validation of customer identities and intelligently reduces the labor of interpreting the results by helping filter false positives, reducing the administrative overhead.
WHAT IS DOKSTOR?
Dokstor is an AI-enabled, multi-channel KYC platform that accelerates and simplifies the On-Boarding of customers, whether individuals, corporates, or employees.
Dokstor’s On-Boarding process removes the administrative overhead of collecting documentation. It moves the process from one driven by the organisation to one that is self-administered by the end-customer, saving time for all concerned. Effectively, the organisation configures what data and documents are required, then the customer on-boards themselves. The organisation’s internal team moves from a labour intensive administration function to an efficient, exception-based, high value-add approach.
Documents are captured, machine read, tagged with their own metadata, and saved to the secure document repository. The identity, address, age, and AML screening status of the person can be automatically verified. As a result, much of the administrative overhead is removed, errors are reduced, and significant cost is stripped from the process, for both the On-Boarding team and the sales teams.
ALL DOCUMENTS IN ONE PLACE
It simplifies and automates the process of On-Boarding customers and clients by automating the capture, validating, and storage of ID documents. Dokstor also automates the process of identifying when documents are out of date and request of replacement document in line with the institutions policies on re-KYCing of customers.
It stores the client’s confidential documents securely and encrypted so you never need to go searching for them again.
Alerts and reminders
It will reminde you in advance when your documents are going to expire.
It makes it easy share and send documents to financial institutions when they need to be used for KYC and On-Boarding, whilst keeping all this data in a GDPR compliant manner.
Easy and simple for employees to manage and send all the documentation when hired