Proofenance
KYCAMLPay
Why?
What comprises your buyer?
Sellers must verify that buyers making purchases worth over €10,000 are not on a sanction list and that the money can be traced (Anti Money Laundering).
Without a national Identity system, UK businesses must use the Know Your Customer method to confirm a person's identity by cross-checking their name and address with other regulated businesses and government departments.
At Point of Sale, funds must be cleared before the customer can leave with their goods.
This sensitive data must be archived safely through its lifecycle for auditing and reporting purposes.
Know Your Customer
Proofenance has partnered with Yoti Identity Verification to validate ID documents in real time.
Your customer hands over a single ID document they are already carrying, like a driving license or passport, and staff are guided through the process of verification with Yoti. Simply take a photo of the ID using a phone and confirm to Proofenance that the person pictured is the same.
Through Yoti, Proofenance can accept and prove identity documents from every country globally.
Anti Money Laundering
Proofenance has partnered with Nordigen GoCardless to source customer bank account data and transactions history.
Within moments, a customer can securely authorise you to view up to 2 years of their financial transactions history, all from their phone. All UK and EU banking institutions are supported, along with most credit providers.
Deposits and expenditures are enriched above traditional data to include the sender name, and purpose. We use our AI to identify extraordinary income lump sums along with normal monthly income.
Payment
Proofenance has partnered with Trilo to execute UK & EU Open Banking payments, and Stripe to execute global payments.
Your customer will be presented with payment options seamlessly in the same format as their AML flow, reducing customer payment anxiety.
It is always possible to fall back to your own payment methods if required.
Secure Archive and Export
Proofenance has partnered with AWS S3 to securely store customer's sensitive data and Personally Identifiable information.
Customer identification document copies and bank history details are encrypted and password protected. These can be viewed in your Saleshboard, or a time limited secure link sent to your verified email address.
You control your data lifecycle: Proofenance can store your data for your required minimum period, or all data can be fully wiped from our servers when the transaction concludes.
