Cheqly, as a full-stack neobank, has constantly been upgrading itself to adapt to the various changes in the evolving digital banking landscape. One of the latest features we’ve added is client verification via Socure, our third-party partner. In today’s digital landscape, it becomes essential to safeguard our banking methods, and due diligence is naturally required when it comes to identity verification. 

Online transactions and remote account access have become commonplace in today’s world; it is necessary to ensure the identity of customers. Socure helps organizations mitigate fraud and reduces the risk associated with identity-related crimes using ID and Face Verification. They use AI and machine learning to verify the digital identities of individuals. Socure Identity verification is used by various industries such as, in the financial sector. As mentioned earlier, they enhance security, reduce fraud and streamline onboarding processes.

How do Cheqly clients benefit from this new verification feature using Socure?

Cheqly now leverages Socure’s brilliant tools and technology to enhance account security and achieve compliance with regulations like Know Your Customer (KYC) and Anti-Money Laundering (AML) by verifying the identities of our clients through face and ID verification. This elevates Cheqly’s stance in preventing fraud, thereby maintaining truly high standards for financial transactions and customer onboarding. 

Cheqly client verification also helps with various factors, such as:

  • Enhancing security for their financial transactions and fraudulent account accesses
  • Allowing quicker and easier onboarding of clients. i.e. opening new accounts and accessing accounts
  • Better compliance with KYC and AML

How does the new client verification feature work?

The Cheqly client verification process is mandatory during the onboarding process for all clients. They must undergo a face & ID verification. The verification process consists of a few simple steps:

After the applicant submits the application for a business account for their company, a QR code for the verification is sent to their mobile number (this is valid for 72 hours). Make sure you have provided a valid mobile number.

  • On clicking the link to QR code, you will be required to take a live face and ID verification. This only takes a few minutes.
  • Upon completion, close the page, and one of our representatives from Cheqly will reach out.

This verification needs to be done by all the individual shareholders and UBOs. If there are more than one shareholder or if the applicant is not a shareholder, then Cheqly will send the link to a QR code separately to the other shareholder’s/UBO’s email address as well.

If the link to QR code expires and you are unable to complete the process, you can always write to [email protected] with the name of the respective company, and a new link of a QR code will be sent.

The process is quick, efficient and convenient. The entire process is secure and can take no more than two minutes to complete.

Safeguard Your Account with Cheqly’s New Feature

In the rapidly changing digital world of today, client verification is essential for securing online transactions and safeguarding financial integrity. Cheqly recognizes this imperative and has taken decisive steps to fortify its platform by collaborating with Socure, a leading identity verification technology provider.

Hence, by leveraging Socure’s cutting-edge AI and machine learning solutions, Cheqly enhances the security of financial transactions and fortifies defenses against fraudulent account access. 

This strategic partnership simplifies onboarding, aligns with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, and fosters a streamlined, user-friendly experience for clients. If you’re considering opening a business account with Cheqly or need to know more about our services, we’re here to assist you every step of the way. Your financial security and success are our top priorities. Reach out today for more information.

Join Cheqly

Never miss any payment or leave your company without an opportunity to keep rolling.

Get Started

Join Cheqly

Never miss any payment or leave your company without an opportunity to keep rolling.

Get Started