KYC Verification with Covery Service

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The Tool Covery.ai that is called ‘Know Your Client’ or ‘Know Your Customer’ (KYC) is a process when clients are giving their data to the banks or other financial organizations in order to prove their identity. KYC Verification together with AML Service are needed to prevent frauds with SEPA credit transfers, Online payments, direct debit and credit card frauds, identity thefts, fake IDs and many other undesirable activities of scammers in the USA and Europe.

Covery benefits for KYC Verification

Covery provides a highly reliable Service that automates kyc check and AML procedure. It implements actual PEPs lists and is using complex risk logic giving the following advantages:

Fast onboarding

With the help of this toll customer onboarding time is reducing while conversion is increasing. You will get real-time decisions for your business in less than 1 second.

Seamless integration

This kyc check can be integrated into different payment gateways, and further customized for a specific business models of the client.

Ongoing monitoring

With KYC Verification and AML customers’ journey stages can be easily analyzed on a daily basis.

Full automation

No more manual kyc check — everything is automated for your convenience. Therefore, operational time, money, and other resources will be diminished.

Custom rules

False positives are excluded due customize rule scenarios, as well as conversions are optimized.

Compliance

KYC Verification secures transactions against AML. It complies with the latest requirements.

Global coverage

International databases are readily available for your kyc check.

Competitive pricing

This KYC Verification solution is both reliable and has an affordable price.

How does KYC Verification with Covery work?

If you want to try this option, the steps are the following:

  1. Send KYC profile of a user or submitted data via API.
  2. A user profile will be created in the system.
  3. User’s presence in PEPs, sanctions, and other watch lists will be checked.
  4. After combination of search results the system will make the decision: accept, reject, or check manually. Any additional possible actions are also going to be presented for you.

Therefore, such suitable and user-friendly system will definitely help you to secure your business and stay safe.


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