KnowYourCustomer vs BioCred

Use this App to verify your identity with one of our partner companies to comply with international Anti Money Laundering Regulations. Your company will direct you to this app with an access code that unlocks the App and allows you to collect and electronically send your identification documents to our secure document server. The app will guide you through the process using the following steps: 1. Use the access code provided to you to unlock your account. 2. Enter or correct your personal data (name and address, etc.) 3. Take a photo of your face (selfie) and photos of the ID documents that the app will ask for. 4. Let the app upload the documents to our secure server. The documents will be processed and the company that requested the verification will notify you when the process is completed.

After a quick and user-friendly onboarding experience, you receive your own encrypted biometric credential, which is stored in the BioCred App in the form of a QR code, and an optional RFID tag. When you step up to the bank teller, you simply scan the QR code or tap the RFID on the BioCred reader, and the banker will be able to greet you by name and open-up your account. If the transaction warrants a biometric match, you will provide fingerprint on the BioCred scanner to match your credential, and the authentication will be complete; no need for the teller to ask you for your ID and to have to wait while you dig through your purse or wallet! And no risk of forgetting a PIN or keying it wrong! You can now avoid dated in branch log-in methods and improve your in-branch experience through simplified transactions and improved security, by using a convenient, biometrics-based authentication system. To enroll with BioCred, you will first need to download the BioCred app, then visit your participating bank branch. Provide the account manager with a verified ID and any other required KYC information, if you are a new customer. When the bank completes your ID verification, they will ask you to place your finger(s) on the BioCred reader to generate the encrypted biometric credential. It just takes a fraction of a second to capture the data and several seconds to provide it to the customer in the BioCred App: onboarding COMPLETE. The credential never leaves your app or RFID tag, nor does your biometric data, which means that security meets privacy. Thanks to BioCred, your financial institution can now optimize customer experience and satisfy bank security and compliance by ensuring SECURE and QUICK ACCESS to future transactions. Not only are BioCred scanners fun to use, they are also safe as they are self-sterilizing after each use thanks to the UV-C LED cleaning feature.