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Eprecus Identity and KYC

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The easiest way to verify identities. Eprecus Identity lets you programmatically confirm the identity of global users so you can prevent attacks from fraudsters

Converting users and fighting fraud shouldn’t come at a cost to the other — whether you’re processing loans, issuing credit cards, or automating account openings. Mitigate fraud and stay on top of shifting regulations like KYC/AML and guidance from agencies like FinCEN and FINRA while providing the best user experience possible. Brand your identity flows to fit natively within your platform to build trust.

  • ID document vs selfie verification
  • SSN and TRN number lookup
  • Verify government IDs from over 100 countries
  • Biometric photo ID-matching with selfie
  • Validate name, date of birth, and local ID number
  • Capture IDs with a conversion-optimized verification flow
  • Retrieve extracted data from documents
  • Access collected images of ID documents and selfies
  • Programmatically delete user data
  • Limit sensitive data access with restricted API keys
  • Access pre-built privacy FAQ templates
  • Phone and Email verification
Features

We Have Some Easy Way to Features Working

Security and privacy are paramount to a trusted relationship. That’s why Eprecus is compliant and certified to the highest industry standards and committed to protecting you and your customers' privacy.

Ensure global compliance wherever you operate with customizable KYC/AML processes that can improve your conversion rates

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Identify more fraudsters

Make better decisions by consolidating risk signals from both Eprecus and third parties in one place. Streamline fraud investigations with a custom hub and intuitive link analysis.

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Orchestrate user identity

Automate all your identity processes within Eprecus. Follow up with users, update systems of records, and more — all without heavy engineering or operational resources.

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Increase trust & safety

Reduce the number of scammers and bad actors to increase the credibility of your marketplace or community.

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Streamline KYC

Make it easy for users to prove their identity at onboarding while fulfilling a crucial part of your compliance requirements.

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Verify global users

Fragmented government ID standards make it challenging to verify identities for global users. With Eprecus Identity, you can confidently verify the authenticity of ID documents from over 100 countries.

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Maximize conversion

Poor image capture is the most common reason legitimate users are mistakenly rejected. Eprecus Identity guides users through photo-taking and automatically scores each frame to select the most readable image, maximizing success rates.

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More about Eprecus's identity verification technology

Eprecus's identity verification technology uses computer vision to create biometric identifiers of your face from the selfies and the picture on your photo ID – and compares the two. This mimics what a person does to verify that your face matches the face on your ID document in person, similar to a cashier who reviews your driving licence to verify that it's real and then checks that you look like the photo on the ID document.

We are constantly improving the accuracy of our biometric technology (which matches a selfie with a photo on the ID document) to reduce cases where we falsely reject legitimate users or approve fraudsters pretending to be someone else. This is why we ask for your permission to use your images for training purposes.

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FAQ

Frequently Asked Question

When you interact with businesses in person, identity verification happens all the time. For example:
  • When purchasing alcohol, a cashier may ask for a photo ID to check your age.
  • When making a transaction at a bank, a teller may ask for an ID document to make sure that you're the owner of the account.
  • When checking into a hotel, a concierge may ask to make a photocopy of your passport for insurance purposes.
As more businesses move online and no longer interact with customers face-to-face, Eprecus Identity helps these businesses confirm that you are who you claim to be.

There are multiple ways businesses can choose to confirm your identity through Eprecus, including:
  • Verify the authenticity of your ID document: Eprecus will typically review images of your government-issued photo ID to ensure that the document is authentic. We've built automated identity verification technology that looks for patterns to help determine if an ID document is real or fake. This process is similar to a bank teller checking your ID document to confirm that it's real.
  • Match your ID with photos of your face: Eprecus will review photos of your face that you provide to us to confirm that the photo ID belongs to you. We've built automated identity verification technology that uses distinctive physiological characteristics of your face (known as biometric identifiers) to match the photos of your face with the photo on the ID document. This process is similar to a bank teller confirming that the photo on your ID document is you based on your appearance, but it's higher-tech and a more accurate way to identify you as a unique person. Additionally, Eprecus will attempt to match new selfies with past selfies to ensure each verification attempt corresponds to a valid identity.
  • Validate your ID number against global databases: Eprecus will collect your name, date of birth and government ID number, such as the last four digits of your SSN in the USA, and check this information against a global set of databases to confirm that it exists.

The Bank Secrecy Act, among other things, requires financial institutions, including broker-dealers, to develop and implement AML compliance programs. Members are also governed by the anti-money laundering rule in FINRA Rule 3310. FINRA Rule 3310 sets forth minimum standards for broker-dealers' AML compliance programs. It requires firms to develop and implement a written AML compliance program. The program has to be approved in writing by a member of senior management and be reasonably designed to achieve and monitor the member's ongoing compliance with the requirements of the Bank Secrecy Act and the implementing regulations promulgated thereunder. Consistent with the Bank Secrecy Act, FINRA Rule 3310 also requires firms, at a minimum, to:
  • establish and implement policies and procedures that can be reasonably expected to detect and cause the reporting of suspicious transactions;
  • establish and implement policies, procedures, and internal controls reasonably designed to achieve compliance with the Bank Secrecy Act and implementing regulations;
  • provide for annual (on a calendar-year basis) independent testing for compliance to be conducted by member personnel or by a qualified outside party. If the firm does not execute transactions with customers or otherwise hold customer accounts or act as an introducing broker with respect to customer accounts (e.g. engages solely in proprietary trading or conducts business only with other broker-dealers), the independent testing is required every two years (on a calendar-year basis);
  • designate and identify to FINRA (by name, title, mailing address, e-mail address, telephone number, and facsimile number) an individual or individuals responsible for implementing and monitoring the day-to-day operations and internal controls of the program. Such individual or individuals are associated persons of the firm with respect to functions undertaken on behalf of the firm. Each member must review and, if necessary, update the information regarding a change to its AML compliance person within 30 days following the change and verify such information within 17 business days after the end of each calendar year;
  • provide ongoing training for appropriate personnel; and,
  • include appropriate risk-based procedures for conducting ongoing customer due diligence, including (i) understanding the nature and purpose of customer relationships for the purpose of developing a customer risk profile; and (ii) conducting ongoing monitoring to identify and report suspicious transactions and, on a risk basis, to maintain and update customer information, including information regarding the beneficial owners of legal entity customers.

Money laundering is a dangerous criminal activity that involves disguising the illicit origins of funds obtained through illegal means and presenting them as legitimate income. Criminals engaged in illegal activities often receive payments in the form of cash, which cannot be easily used without drawing attention. To circumvent this challenge, money launderers employ various techniques to convert their illegal proceeds into seemingly lawful assets.

Rather than depositing large sums of money in a single transaction, they opt for a gradual approach, making smaller deposits over time. This helps to avoid suspicion and scrutiny from financial institutions. Furthermore, money launderers may collaborate with smugglers to move their illicit funds to countries where money laundering regulations are less stringent or poorly enforced.

By exploiting vulnerabilities in the global financial system, money laundering effectively "washes" the tainted money, making it appear legitimate and concealing the underlying criminal activities. However, governments and international organizations are taking extensive measures to combat this pervasive threat. Individuals involved in money laundering face severe penalties, including substantial fines and imprisonment, as authorities strive to safeguard the integrity of financial systems worldwide.

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