Yoti’s advanced identity verification technology is set to enhance the onboarding experience for financial services and help tackle identity fraud. Synectics Solutions have integrated our Doc Scan technology to deliver simple, private and secure KYC checks when people apply for financial services products.
For over 27 years Synectics Solutions has been at the forefront of developing leading-edge, data driven solutions for its clients, to help them create effective risk management systems and reduce their losses to fraud and other financial crime. Synectics’ clients have saved over £4.8 billion collectively through the use of these market leading link analysis, fraud prevention and predictive analysis solutions – National SIRA, Orion and Precision.
Synectics Solutions have integrated our state-of-the-art identity verification solution, Yoti Doc Scan, to enable their customers to digitally verify their identity from anywhere in the world. The product integrates seamlessly into existing business flows so that customers can easily verify themselves on a website, app or in terminals.
End customers simply take a photo of their official ID document and perform a liveness test to prove they’re a real person, and Yoti does the rest. Using a combination of expert AI and our team of super recognisers, Yoti checks their ID is authentic and matches it to their biometric template created during the liveness test.
Yoti’s partnership with Synectics Solutions offers regulated financial services institutions the ability to:
Russell Mackintosh, Head of Partnerships at Synectics Solutions said: “We’re delighted to announce this partnership with Yoti as it further demonstrates our recognition that improving methods of authenticating and identifying genuine customers lies at the heart of addressing issues of fraud and financial crime for our clients.
“As a company we’re committed to continually investing in the services we offer and Yoti’s Doc Scan provides access to the leading edge ID&V technology to help our clients improve their ability to authenticate genuine customers faster and more effectively.”
Gareth Narinesingh, Commercial Director at Yoti said: “Our partnership with Synectics Solutions is a key proposition for UK-regulated financial services. Verified identities delivered through our Doc Scan platform compliments best-in-class data services provided by Synectics Solutions.
“Financial services clients now have an end-to-end solution for onboarding new and remediating existing customers. This will lead to better and quicker customer outcomes for good actors, whilst employing much tighter controls around keeping out bad actors. This will be good news for both compliance officers and heads of retail banking and consumer finance businesses.”