Admirals implements online KYC & ID verification to speed up the customer onboarding
Learn how the leading financial services company has implemented automatic customer identity verification and reduced the registration time to 6 minutes.
Head of Global Compliance at Admirals
While even more important we have been able to open up new countries as a result of our ability to successfully verify clients from countries where previously we did not have such an option.
Case and History
Admiral Markets is the leading provider of financial solutions for the European securities market. The company serves over 30 thousand people a month from more than 130 countries.
On the one hand, the company seeks to ensure the convenience and safety of work for customers. On the other hand, it is obliged to guarantee reliability and compliance with financial regulators’ requirements. It used to take too long to check with operators. The client had to wait a long time for the results.
Global customer onboarding according to regulations, KYC automation and fraud prevention
The customer verification process, with the help of operators, used to take much time. Therefore clients had to wait a long time for the results. Due to changing regulatory requirements and the company’s global presence, the compliance staff had to be continuously trained. These factors created a weak link in the company’s onboarding process.
Process and Results
The company has set itself to automate the customer verification system and find a solution that would be friendly to the end-users and provide professional customer data checks. The main goal was the speed and quality of data processing and the ability to enter the markets of other countries faster. GetID has helped Admiral Markets to solve this problem efficiently. Thanks to AI and unique technical solutions, the global identity verification process has become much more manageable. In most cases, operator participation is no longer required. Moreover, Admiral Markets is now able to attract customers from countries that were previously out of reach.
The company can see verification results inside the administrative portal in real-time. The customer’s profile data is divided into more than 20 components that make the results clear and comprehensive. It also enables the compliance team to respond immediately if a violation or an error occurs. All data can be downloaded as a full-fledged report.
Increased global customer reach.
Reduced verification time by 90%!
It’s important to note that Admiral Markets could easily integrate the GetID solution into its system interface both on the web and mobile applications. As a result, the KYC process has become significantly faster and more professional, regardless of where the client is.
ID documents verification
document validity and authenticity
GetID administrative portal
AML Watchlists screening
While even more important we have been able to open up new countries as a result of our ability to successfully verify clients from countries where previously we...
Head of Global Compliance at Admirals
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