The best solution to
business tasks of KYC,
AML and verification
procedure
BASIS ID is a company of ZignSec group. Our software
verifies over 5,000 government-issued documents from
more than 190 countries. That’s millions of verified
identities a year and a lot of people working behind the
scenes to help make the lives of millions, and one day
billions, of people safer online.
In order to follow FATF¹ recommendations and prevent money
laundering, terrorist financing and fraud, FinTechs use KYC²
procedures - BASIS ID s product makes it possible to satisfy all
existing regulations
However, current KYC solutions:
Do not work with hieroglyphs and Cyrillic characters
Require full price for re-check Do not have integrated eIDs
Are difficult to integrate Are not flexible Struggle to verify Asian documents
¹ Financial Action Task Force
² Know Your Customer
'
ABOUT BASIS ID
BASIS ID is a company of a ZignSec group. Our software verifies over 3,000 government-issued documents
from more than 190 countries. That s millions of verified identities a year and a lot of people working behind
the scenes to help make the lives of millions, and one day billions, of people safer online.
We are a listed company group in NASDAQ First North Sweden ZIGN SE0012930105 and follow every
regulatory obligation meaning strong reporting, corporate governance, licensing, and compliance with
international laws such as GPDR, data localization laws, and FATF. Our internal processes are audited on a
quarterly basis by EY and Deloi e.
Usually, we provide our software, our own intellectual property developed and supported in-house, in
addition to consulting and development teams for special integrations or customization according to your
plan. We sell solutions to your challenge, not features.
We’re completely driven by our customers.
We focus on what ma ers to them: cost, speed, convenience, and coverage.
tt
tt
'
(
:
)
KYC & AML workflow management platform
• Ensures compliance • Takes minutes to integrate • Provides micro services
• Works with documents • Increases conversion (biometric matching, AML
from all over the world • Saves money if your screening, OCR, fraud
including Asia customer needs more than detection and others) for
• Adjusts to customer one attempt at verification. an independent
needs integration.
Verification methods
1 Document 2 Liveness check / 3
Background
verification Biometric verification verification
• Fake detection • 500 video frames for biometric • AML/OFAC/PEP/Sanction/
• Optical characters recognition analysis and liveness check Adverse media screening
• Structure & data validation • 3D face modelling for motion, • 42800 screening databases
• Sample comparison rotation and blinking analysis • Ongoing screening
• Proof of address • Facial expressions analysis • Application risk scoring
• Proof of income • Comparison with document • Alerts and reporting system
• GDPR compliance
Friendly UX
Multilingual
support
Intuitive
3 possible workflows:
1. Fully automatic: user gets approved/
declined by BASIS ID algorithms. AML
settings are under applicable laws of
your country.
2. Hybrid approach: BASIS ID compliance
team does post-moderation and makes
a final decision to approve/decline a
customer based on your internal KYC
policies.
3. Semi-auto: BASIS ID system is provided
as a tool. Client does manual reviews
and makes a decision to approve a
customer.
Dashboard
All the relevant information
on the customer and their
verification process is
available in a convenient
dashboard on-demand.
Regulatory compliance
BASIS ID works with trusted partners such as
Experian, BitFury, Thomson Reuters, MSIG and PwC,
which enables top-level performance and regulatory
compliance. Besides, we have been presented to and
supported by different regulators and central banks:
Monetary Authority of Singapore, SEC Thailand,
FINMA, FSA. BASIS ID is fully compliant with the
modern eKYC guidelines in Europe, Asia and the US.
Additionally, BASIS ID has gone through an audit by
Deloitte and proved to be more accurate than
manual KYC.
Coindeal case
Coindeal is one of the most powerful cryptocurrency exchange platforms in the world.
Challenge: When comparing the number of registering customers to the number of
customers that actually start using the service, Coindeal was disappointed - the
automatic system of one of the largest KYC solution suppliers could not handle the
biometric comparison and document verification, so end-users were often rejected. The
task was to provide high-quality verification, especially for users from APAC region and
some European countries.
Outcome:
• Coindeal implemented the elements of the BASIS ID widget as microservices to
collect the data necessary for the verification of documents, liveness check, and
user identity.
• The number of users approved to use the service has increased, while being fully
compliant.
• CoinDeal got the opportunity to work with users who have documents that are
not supported by other providers of automatic verification.
• Return On Marketing Investment ROMI has increased.
(
)
TOP 5 CFD Trading Platform
This company is a leader in three areas: CFD Trading, currency exchange, and FX data
services.
Challenge:
1. This cooperation’s business objective is to enable future customers to verify themselves
remotely in any convenient way. The word "any" means verification through biometric
analysis & identity documents and national electronic identification services.
2. Optimize the pool of tools and technologies used by the company to aggregate,
analyze, and keep up-to-date all incoming data as efficiently as possible.
Outcome:
The BASIS ID solution is excellent for restructuring the onboarding toolbox. In this
case, a globally operating company uses several local verification services that are
optimal for specific countries. It also uses data from local databases and begins to
implement national electronic ID systems. At the same time, the data must be kept
continuously up to date. Additionally, support and repeated requests for verification
require special attention.
With a high-level team and a willingness to actively respond to customers’ business
tasks, BASIS ID has developed solutions for each country where services are
provided. This allowed us to optimize costs and improve user experience.
Aerapass
Aerapass is the best way to arrange the issuance of prepaid Visa, Mastercard, or Union
Pay cards, build a payment or currency exchange system, or get a comprehensive risk and
compliance management system for a fund, fintech or crypto company.
Challenge:
1. Provide Aerapass program managers with a convenient platform for monitoring the
onboarding of their users - both individuals and legal entities.
2. Provide Aerapass with the custom tailored verification procedure and processing of the
data while offering a convenient compliance ecosystem
to work with reports for regulators and supervisors.
Outcome:
Based on the solution BASIS ID has developed, all Aerapass partners will have access
to a personal program that will allow to verify users with customly designed
algorithms, conduct risk assessment, monitor users, constantly keep information up-
to-date, as well as compose immediate reports with various data taken into account.
Verification of individuals and shareholders of companies also includes media
screening, PEP database verification, and accurate AML verification.
Sprout
Sprout helps with incorporation and secretarial service worldwide, and BASIS ID
successfully assists the company.
Challenge:
1. To automate the work of compliance team and speed up the verification procedure to
ensure fast onboarding.
2. To provide the compliance team with a convenient dashboard for monitoring purposes
and access to all the details of the verification process.
3. To provide full compliance with the applicable regulatory requirements and additional
criteria driven by the risk appetite of Sprout, such as verification through MyInfo by
SingPass.
Outcome:
The customer onboarding management platform allows analysts to draw conclusions
on the most frequent fraud cases and to adjust the risk appetite of the company
without deviating from requirements by MAS. Sprout monitors critical factors and
conducts ongoing customer screening, such as keeping track of the document
expiration dates or changes in AML and PEP records.
aPay
aPay is an online payment solution for the future. With a stable legal basis, the service is
constantly improving its verification process to mitigate risks and ensure legal
compliance.
Challenge:
The collaboration between aPay and BASIS ID has two objectives: to provide the fastest
onboarding to all categories of service users and to provide a convenient tool to risk and
compliance specialists, as well as money laundering reporting officers MLRO .
Outcome:
1. Implementation of the solution from BASIS ID has allowed us to ensure the fastest
possible onboarding of users. Data verification happens nearly instantly.
2. The churn rate has decreased significantly due to our work with the provided data
and additional requests.
3. Document and data verification with Chinese characters using BASIS ID s cutting-
edge solution is the peak of opportunity among all the available solutions.
4. aPay is fully satisfied with the successful collaboration and is happy to onboard
users by applying the KYC solution from BASIS ID.
(
'
)
Document proofing Liveness check includes
utilising AI motion capture and deep
fake detection
Biometric facial
recognition Configurable Sanctions &
Watchlist Screening, PEP
& Adverse Media
Address validation Screening
Fake detection
Additional customizable
development
Optical characters
recognition
Available to give reference
Timm Schneider Mats Taraldsson
CEO at ZignSec Deputy General Manager at MasterCard
Trust in BASIS ID
10M verifications 5000+ supported documents 240+ countries
Partners:
For more information
Max Klyuchev +372 58504228 max@basisid.com
Client Solutions Lead
