The compliance onboarding process is seen by most as a tiresome and costly admin intensive process, but with the integration of the world’s best digital identity and security technologies, this has all but been eliminated. Dare we say it, onboarding that requires RICA or FICA as part of onboarding just got easier.
DocQnet’s FICA & RICA Service includes a highly secure digital vault coupled with blockchain audit capability, and rapid configuration that can address a customer’s unique onboarding requirements. This can include white-labelling of the service, as well as integration into the customer’s back-end systems.
This award-winning governance platform is the ideal solution for organisations wishing to be 100% compliant, while still concerned about improving the customer on-boarding experience.
The framework is designed to not only align to RICA and FICA, but also complies with POPI as it does not allow for customer profiling. The system enables comprehensive reporting and enquiry facilities to meet the demands of the regulatory bodies, as well as simple good business practice.
Along with the mandatory system requirements, DocQnets FICA & RICA Service includes significant advancements for the industry, including:
Biometric Features
Using the latest Biometric technologies available, the framework is able to accurately identify and validate the customer - cross checking data quickly and accurately. Biometric checks include fingerprint and facial recognition.
Remote (Know Your Client) KYC capability
Previously, only face-to-face verification was accepted for KYC; however, advances in our technology have made digital facial recognition a viable and approved alternative. Call centre agents can now conduct an interactive video session with the customer and using “IDSCAN” (Facial Recognition) together with Geo Spatial information on mobile devices, they are able to facilitate the on-boarding process – be it in rural areas, at home or wherever they may be, all digitally. The facial recognition match is 99,7% accurate and assists in the prevention of ID fraud, whilst making the process much friendlier and service orientated for the Customer.
Tamper Proof Audit
The security and end-to-end auditability of the framework is based on the principles of “Block Chain” methodology. This security encompasses all the commissioners of oath and beneficiaries in the process. Data is traceable and incontrovertibly associated with the relevant officer doing the enrolment and the beneficiary, through the use of automated digital signatures, along with time and date stamp functionality. History of any change or action performed is traced and audited, providing a completely transparent and secure platform.
Speed to Authentication
Processing customers used to take days! The DocQnet FICA & RICA framework allows for a dramatic reduction in processing time. With the correct input from the customer, the system can process and verify within mere minutes. This reduces expensive man hours, increases customer satisfaction, and impacts overall turnaround.
