nCino KYC Africa, formerly known as DocFox Africa, has not only undergone a name change but has spent the last few months reimagining what the future of Financial Intelligence Centre Act (FICA) compliance looks like.
In a world that is growing increasingly remote and relying on digitised verification and authentication of data and information, criminals too have evolved to become smarter in their tactics. This has made it more challenging for businesses to verify people’s identities and marks the end of the days where you can simply look at a picture on an ID and accept it as being authentic.
As financial crimes continue to evolve, so should technologies that help combat these crimes. To truly make an impact in mitigating money laundering, human intelligence and technology need to work together effectively and progressively to be successful.
The role of technology in fighting financial crime
Technology has become a critical tool in the fight against financial crimes. From simplifying how businesses onboard their customers, automatically performing ongoing monitoring and risk management to automating mundane tasks, it has become an essential component of any business.
In addition to having smart technology, for FICA compliance to be correctly implemented throughout your business, you need to have a compliance partner you can rely on for advice, insights, trends and industry know-how. Keeping up with evolving regulations and risks can be challenging, which is why having a reliable expert you can count on for timely and accurate guidance is essential.
nCino KYC Africa will enhance your business's FICA compliance by delivering unmatched expertise, smart solutions and unbeatable service – to help your business become and stay FICA compliant.
The company aims to create a FICA compliance process that is easy on your business, and customers, and frustrating for criminals. One way it is powering this new era is by integrating biometric liveness and facial authentication and verification into its software, allowing you to ensure a person transacting is who they say they are. By validating data through a secure triangulated authentication process, it proves that a person is real and transacting in the present moment. This seamless process eliminates the need for manual document collection, ensuring fast and secure identity verification.
nCino KYC Africa is powering a new era in FICA compliance and working with South Africa's leading businesses to fight and combat the scourge of financial crime.
To find out how nCino KYC can automate your FICA process, request a demo.
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nCino KYC Africa