If you know some parts about online KYC (Know Your Customer or Client), then you might wonder what kind of documents and papers are needed. The great advantage of the online KYC process is that it is very simple. It might be much more simple than you have imagined.
Valid Documents for Online KYC
You only need two.
- Valid ID documents – Passport, Driver’s License, Government ID
Questions might arise such as how can those two can be enough for the online identity verification process? It connects to previous related posts such as ‘Why Selfie ID Verification for KYC?’ and ‘Selfie Verification and ID photos for KYC’. When verifying a person, government-approved documents such as a driver’s license and passport are needed and usually, they are already a strong tool for the verification process.
ID Photos and Selfie Photos
The photo shown on valid government-approved ID cards works as a foundation for identity verification. Therefore, comparing a face shown on a valid id document and a provided selfie photo works as a stronger tool for the online verification process. It works stronger than a fingerprint or iris.
This is why Argos KYC asks users to provide two documents, a valid ID with a photo and a photo of themselves. With the provided information, AI technology will compare and verify whether the information – the photo – does match or not.
Valid Tool for Online Identity Verification
Verifying identities online is valid and trustworthy. This is why more and more finance companies including online banks and virtual asset service providers are actively using online KYC to verify their users. Online leads to lots of great opportunities, however, at the same time can have negative effects due to anonymity.
Make your business safe by verifying your potential users using Argos KYC to verify identities. Got you covered!