The startup offers a client due diligence platform that enables businesses to efficiently capture, verify, and store customer identity documents to meet AML and KYC compliance requirements. Its web portal and mobile applications facilitate real-time customer identification, reducing complexity, costs, and risks associated with regulatory compliance.
Funding
$10.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses face increasing complexity, costs, and risks associated with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory compliance when onboarding new clients. Traditional client due diligence processes often involve inefficient manual methods for capturing, verifying, and storing customer identity documents.
Solution
ID-Pal offers a client due diligence platform that streamlines the process of capturing, verifying, and storing customer identity documents, ensuring businesses meet AML and KYC compliance requirements efficiently. The platform leverages 100% AI-powered identity verification technology, blending biometric, document, and database checks for real-time results. With zero access to customer data, ID-Pal's multi-layered verification process automates decision-making and configures workflows to meet specific business needs. The platform offers seamless integration options, including plug-n'-play and API/SDK integrations, enabling same-day deployment and customization.
Target Audience
ID-Pal serves businesses across various industries, including accountancy, fund administration, wealth management, credit unions, payments, insurance, financial services, digital banks, and fintech companies, that require efficient and compliant client onboarding processes.
Features
- Real-time identity verification using 100% AI-powered technology
- Instant identity document verification with a 70-point check per document
- Biometric facial matching to confirm the face in a submitted ID matches the person present
- Liveness testing to confirm a real, live person is completing the identity verification process
- Automatic address verification against multiple databases
- AML screening against global watchlists, PEP databases, and sanctions lists
- Customizable platform that can be branded and configured in minutes
- Client Due Diligence Report generated for secure storage and instant audit trail
- Salesforce integration
- SDK/API integrations