Using VOI and VOF offers you a range of advantages, such as fully electronic ID checks and authentication of sources of funds helping you to meet your compliance obligations, while also providing protection to your clients that helps to prevent fraudulent and criminal activity. It also minimises the risk of errors that can lead to insurance claims for all parties involved in a transaction, including lenders, clients, and agents.
Book a Demo Make an EnquiryVOI – Verification of Identity
VOI helps to improve the security, compliance, efficiency, and cost-effectiveness of the client onboarding process. By automating and streamlining the identity verification process, businesses can ensure that they are meeting regulatory requirements and protecting themselves from fraud and other security risks, while also providing a better experience for their clients.
Our VOI solution is a powerful, bank-grade identification tool that uses biometrics to authenticate your clients’ identities quickly and easily from anywhere in the world. By introducing biometrics to the identity process, individual user risk is eliminated, and a definitive answer is available in seconds. Compliance can be tracked on an individual client or at a companywide level.
Functionality
The Highlights
- Enhanced security: VOI helps to ensure that your client onboarding process is secure by verifying the identity of your clients.
- Better customer experience: An easier and quicker solution, making the onboarding process more efficient and less burdensome.
- Improved compliance: Using VOI helps you to meet regulatory requirements related to customer due diligence, anti-money laundering, and other requirements related to customer onboarding.
- Streamlined process: if offers a streamlined identity verification process, which can save time and reduce errors that might arise in a manual process.
VOF – Verification of Funds
VOF is a user-friendly and mobile-optimized digital solution that retrieves real-time data from your client’s bank accounts to authenticate the origin of funds. It enables your clients to conveniently access their bank accounts through their secure eCOS client onboarding solution, eliminating the need for email or uploaded PDFs. Instead, the captured data is sent directly back to your case, making the process more secure and less vulnerable to potential fraud. VOF is fully encrypted and has access to the most extensive bank and neobank networks in Europe. The use of VOF empowers your clients and enhances the security of your client onboarding process.
Functionality
The Highlights
- Real-time verification: VOF captures real-time data from your client’s bank accounts, ensuring that the information is accurate and up-to-date.
- User-friendly interface: VOF is a seamless and mobile-optimized tool that is easy to use, allowing your clients to access their bank accounts securely within their eCOS client onboarding solution.
- Enhanced security: Using VOF eliminates the need for email or uploaded PDFs, which can be insecure.
- Extensive network: VOF has access to the largest bank and neobank networks in Europe, providing a broad coverage of banking institutions that your clients may use.
- VOF streamlines the client onboarding process: it improves the security of your operations, and provides clients with a convenient, secure, and reliable tool to verify their funds.
One-click ordering for Client Due Diligence
eCOS VOI and AML check
eCOS AML Checks enable one-click ordering for Client Due Diligence; By integrating with our eCOS Verification of Identity we can collect the inputs for the AML Check directly from a scan of your customer’s ID Document.
eCOS AML Checks are verified against the following datasets:
1
Verified ID Document (Customer Passport, Driving License etc.)
2
Politically Exposed Person (PEP) Dataset
3
Current Sanctions Dataset
4
Credit Database & Address Register
5
Full Electoral Roll
6
Cifas (UK Fraud Prevention Service)
7
County Court Judgements (CCJ)
8
Bankruptcy Records (If revealed as a CCJ)
9
UK Edited Electoral Roll
10
UK National Change of Address (NCOA)
11
UK Mortality Register
12
BT Landline Dataset
Each check is valid for 12 months
Each check includes 12 months of ongoing monitoring where you will receive an updated report for the following changes:
- A new PEP is revealed
- A new Sanction is revealed
- A PEP is removed
- A Sanction is removed
- An existing PEP is amended (e.g. a new position is added)
- The Document used in the ID Check expires
- The eCOS AML Check expires
Our report combines the results of the eCOS Verification of Identity (VOI) with the results of the AML Check. You will receive one report as soon as the VOI is completed, and an additional report combined with the results of the AML Check.
Our AML Check has two possible results:
Compliant or Non-Compliant (the outcome of the results will be explained further in the report)
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Electronic Client Onboarding (eCOS)
Replaces inefficient and outdated steps with a faster, digital process.
Anti Money Laundering
Conduct risk assessments, perform due diligence checks, and monitor transactions in real time
Residential Conveyancing
A few examples of what else we offer
Due Diligence
Top-tier due diligence services that are integrated directly into the same platform where you handle your other essential conveyancing tasks
Property Reports
Our streamlined reporting allows you to produce a report on title in just 15 minutes
AP1
Cutting-edge management software is designed to seamlessly interact with HM Land Registry
