What Is Telpo Banking KYC Solution?

Banking is an industry with extremely high risk of financial frauds and money laundering, so it is necessary to perform background investigation on customers to mitigate fraudulent or misuse activities. 

Background

In the past, if customer wants to open an account, the bank staff will generally compare customer's face with picture on ID card. However, it will undoubtedly increase bank staff burden on identify identification as it is hard to recognize whether personnel information is real with similar faces and poor handwriting. Besides, it will enhance potential risk of information leakage caused by document lost or stolen. 



Introduction 

KYC is quite a safe, effective and mandatory method to verify customers’ identification and behavior, which has widely recognized by governments and financial institutions. Aiming to provide a smooth customer onboarding experience that complies with KYC regulations and minimizes the risk of fraud, Telpo launched a banking KYC solution or called ID verification solution recently.

Compared with the traditional verification process, Telpo will offer biometric terminal to enable bank staff take customer's picture or capture his fingerprint to compare with ID card. With unique and specific biometric characteristic, personnel identification will be truly recognized. And the e-document service will certainly ease staff burden on managing and keeping personnel information. 

The encryption technology is conductive to protect user account and identification, reduce the risk of identity theft, money laundering, financial fraud, and the financing of criminal organizations.



Biometric Terminal 

KYC biometric terminal usually contains fingerprint scanner, camera, etc, which can timely transfer user’s personnel information and authorized signatures to the platform or compare the authenticity with the database of established identities. 

Take Telpo biometric terminal TPS360 as an example. It adopts FBI PIV and FBI Mobile ID certified FAP20 optical scanner, which supports multi dynamic range (MDR) technology, live fingerprint detection (LFD) technology. Importantly, it is complies with NIST certified interoperable image & template format standards (ANSI-378, ISO19794-2/4) and image compression standard (WSQ), ensuring collect and record user fingerprint in a fast, safe and efficient way.

Multiple scanner & card reader modules can be chosen include NFC scanner, smart card reader, secure access module (SAM) card reader, front& back camera, etc. As different countries have various demands on opening an account, it will be better to choose the most suitable configuration. If you want to more details, welcome to contact us directly. 


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