ViewTrade, the force that powers fintech, has enhanced its customer onboarding service with three new modules designed to help its clients onboard retail financial customers more efficiently and with greater security.
With the enhancements, clients can activate any of the new modules and make them part of their custom identity verification and background check process.
Key Features of the New Modules
Jurisdiction Block enables account managers to block users from opening accounts from certain global regions, countries or a US state before the account is passed to the custodian, effectively halting account creation before other KYC verifications are conducted. Account managers can create their own list of jurisdictions to block and/or allow account creation. This module is fully customizable and available on a branch level, enabling brokers to toggle their lists to either fully block entire regions, or only accept account creation from specific countries or states.
Person Block works similarly to Jurisdiction Block by enabling account managers to fully block certain persons from opening accounts. Managers can create their own list of banned profiles and identities that can be updated as needed and published immediately. This functionality can be activated as a background check module and be part of the branch-specific identity verification flow.
Continuous ID verifies account identities through multiple sanction lists, government exposure and risk databases on a daily basis once activated. The module also enables administrators to mark false-positive matches to be skipped on future system runs, so only relevant matches will be flagged after each scan.
“ViewTrade’s continuous investment in our product suite ensures we can continue to offer ever more comprehensive and flexible technology to our clients,” said Sergei Lishchenko, Digital Experience Technology Services. “With these enhancements, clients can further streamline their customer’s experience and digitally onboard them, compliantly and at scale – a critical enabler to sustainable and responsible growth.”
ViewTrade’s Global Identity Verification Service provides a tailored experience for each client including customized logic and KYC/CIP vendor selection to confirm the authenticity of an identity, the ability to accommodate the challenge of common names and compliance rule customization. Services also include identity verification services to confirm the authenticity of a wide range of government-issued ID documents, including driver’s licenses, passports and more during the onboarding/account opening process.
“Ingrained in our leading solutions is the global market expertise needed to deliver a fast, reliable and seamless onboarding experience to the investors of today and tomorrow,” said Mark Ford, Chief Compliance Officer at ViewTrade. “These enhancements address and eliminate pain points that existing solutions do not. The new modules will allow our clients to permanently prevent individuals who are not compliant with their onboarding rules from creating accounts, providing greater control, increased approval rates and improved workflows.”