Request a Callback


    Download your Free eBook

      SME Guidance: Digitalizing Your Client Onboarding Will Ensure Business Continuity Amidst Social Distancing Rules

      Beware of Coronavirus-related Fraud & Money Laundering Schemes
      Beware of Coronavirus-related Fraud & Money Laundering Schemes
      April 22, 2020
      Housing Market Reopening – Prepare for the Influx of Transactions
      Housing Market Reopening – Prepare for the Influx of Transactions
      May 13, 2020

      To survive in the midst of unpredictability, your business must have the ability to perform essential functions during and after a crisis has occurred.

      Business Continuity: The need for proactive and adaptable practices

      In the midst of a national health crisis, the need for organisation’s to create and implement business continuity systems is apparent.

      It is true, no one could have predicted this pandemic nor its disastrous effects on enterprise.

      However, it is imperative to implement systems that can allow your business to operate as effectively as possible when facing external economically threating challenges.

      These systems should act both as a prevention & recovery mechanism. They should ultimately allow your organisation the ability to perform essential functions during and after a crisis has occurred.

      Business Resiliency: Think long-term

      Your business will inevitably face many events which will threaten to disrupt operations.

      An organisation that rises above the threat with innovation and resilience, that seeks to find new ways to operate is one that will ultimately thrive once the threat dissipates. Now is the time for business leaders to step out of traditional routines and instead adopt a digital-first approach.

      Implementing remote identity checking and digitalizing the customer onboarding experience is not something that is necessarily new nor untested.

      Rather, large corporations & banks have already implemented these systems for years with huge success.

      They have benefited from the transformative effect of Regtech on their daily functions and now continue to reap the rewards of a system that is fully operational in spite of social distancing measures.

      The fact is social distancing, whether the lockdown is relaxed or not, will be around for some time. To ensure your business can survive a highly likely & long period where social contact is prohibited in the interest of national public health – you must ask yourself:

      How is your business going to continue to attract and retain customers, remain AML & KYC compliant as well as adhere to a policy of no social contact?

      Eliminating Impact with Regtech

      Regtech is a fancy buzzword for regulatory technology.

      It is specifically designed to fulfill regulatory compliance obligations for professionals securely but efficiently, utilizing technology to verify individuals against various official data touchpoints in a matter of seconds.

      With social distancing here to stay, Regtech and identification verification systems allow organisations to continue to perform essential compliance functions efficiently and effectively.

      They remove the need for face-to-face meetings and physical handling of paper documentation, & provide an automatic audit trail to prove your organisation’s compliance efforts.

      The use of digitalizing compliance efforts has been strongly recommended by the authorities including the FATF;

      “With people around the world facing confinement or strict social distancing measures, in-person banking and access to other financial services is difficult, and unnecessarily exposes people to the risk of infection…digital onboarding reduce the risk of spreading the virus. In line with the FATF Standards, the FATF encourages the use of technology, including Fintech, Regtech and Suptech to the fullest extent possible.”

      Invest in Compliance with Veriphy

      Our unique model was designed with SMEs in mind. We have invested in access to top-quality data sources from leading industry data providers and brought these together into one secure platform that offers you the ability to benefit from all our products with ease and no capital cost.

      Access top of the range Regtech without restrictions.
      No Contract. No Prepayment. No Usage Quotas.
      Join Us
      • Dominic Gulati
        Loving your company's services! I switched to you from another provider, and what you deliver is much better, and your web interface is so much simpler to use.
        Dominic Gulati
        A K Gulati & Co Solicitors
      • Claire Thornton
        I absolutely love it. I can't believe how easy it is to use and how user friendly it is in its format.
        Claire Thornton
        TLW Solicitors
      • Jon Booth
        The system was extremely easy to set up and we were up and running with it very quickly… It made a refreshing change to be in that position so quickly.
        Jon Booth
        Booth & Co
      • Ross Findlater
        This is very user friendly – brilliant! I wish I’d discovered this at the start of trading.
        Ross Findlater
        Business Tax Solutions Ltd
      • Richard Nevill
        Very clear & simple. Used it, without reading the manual of course, just to give it a try. Excellent service.
        Richard Nevill
        Nevill Stormont & Co
      • Donald Inglis
        I have just used Veriphy for the first time. It is excellent – so much easier than the old non-digital methods.
        Donald Inglis
        Inglis Chartered Accountants