Electronic identity verification (e-IDV) enables solicitors and licensed conveyancers to verify the identity of their clients and onboard them remotely.
By removing the need to collect physical documents, e-IDV speeds up and streamlines client identity checks, frees up time and builds a more robust system for spotting fraudsters and preventing money laundering.
1. Address checks and PEPs and sanctions screening
The first step to verifying a client’s identity is to obtain a proof of address. Using basic information entered by the client, Thirdfort verifies their address with at least two sources using Experian. PEPs, sanctions and adverse media checks are also performed using LexisNexis and ComplyAdvantage.
2. Document verification
It is a regulatory requirement to see satisfactory photo evidence of the identity of every client. Thirdfort users take a photo of their identity document. The Onfido technology checks data consistency across the ID, performs image analysis and detects anomalies using the best combination of machine learning fraud detection and human experts.
3. Biometric verification
Thirdfort guides the user to take a selfie and short video. Onfido's texture analysis is used to ensure it is a genuine selfie, which is then compared to the ID photo to make sure the faces match. For extra assurance a ‘Liveness’ test guides users to take a short video on their phone. Audio processing, face tracking and mouth tracking is used to verify the video and ensures there isn’t any attempted spoofing.
If you'd like to find out how e-IDV can help you onboard clients remotely, you can get in touch with us here.