VSiD launches SmartComply to help reduce risk and stay compliant
In response to the professional services sector’s increasing compliance needs, VSiD, the government accredited Identity Service Provider (IDSP) and pioneering RegTech company, has launched a new advanced digital onboarding solution. SmartComply makes it easier for businesses to improve automation and keep up with regulatory demands.
Almost every business now has a legal duty to know who they are dealing with, and heavy fines are being imposed on both companies and individuals for not completing sufficient diligence checks such as: Director & Business Ownership, Anti-Money Laundering, Fraud, PEPs & Sanctions and Bank checks, Right to Work, Right to Rent and Age Verification.
SmartComply is an all-in-one real-time identity verification solution with built in eSignature authentication and document exchange that streamlines the onboarding process, whilst reducing the risk of fraud and money laundering, and ensures you meet compliance needs. It enables you to accurately identify and verify any transaction linked to an individual, eSignature or entity. It also includes bank verified Source of Funds Reports and allows you to carry out AML, Fraud and PEP’s and Sanctions checks with automatic ongoing monitoring.
SmartComply also issues original authentication certificates for transactions and allows third parties, such as banks or insurance companies, to reverify them.
David Kern, CEO of VSiD explains “We wanted to provide a solution that guarantees compliance without compromise i.e. to navigate an increasingly complex regulatory landscape without either putting their business at risk or becoming liable for heavy fines. SmartComply enables you to automatically carry out ID, AML, KYC, KYB & Bank checks with ongoing monitoring all from one solution and provides certified proof that you have done all you need to”
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