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General Questions
What Is KYC?
Know Your Customer. As part of AML, financial institutions need to establish customer identity and do Customer Due Diligence (CDD) to ensure that they know the source of the customer’s funds and determine the associated risk of doing business with them.
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Know Your Merchant (KYM) is a security measure that organizations are obligated to undertake upon entering into a relationship with a merchant.
The main aim of KYM is to perform a due diligence process on the new partner or client in order to verify their identity, establish the legitimacy of their service or business, and evaluate possible risks involved.
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Verification Process
How Much Time Does It Take To Verify a User?
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There is a 1-hour session for the entire identification process, which starts from the ‘Consent to the Processing of Personal Data’ to the photo of the document. When taking a selfie photo, a person has to follow certain instructions, i.e. to get closer, not to move, to retreat further and so on. If these instructions are not followed and the person does not move, the session is terminated after 30 seconds.
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Identifications
What Is Identity Verification?
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What Is Active Liveness?
Active liveness is an is an ISO certified liveness check technology, which ensures automated liveness detection. It contains 3D FaceMap and is not publicly available online. Ondato ensures the user is physically present, and prevents photos, masks, or deepfakes from fooling the system. 3D face scan – this funcionality checks if a person willing to start identification process is real and prove’s liveness of a person. It requires user to perfrom set of instructions to prove that he or she is a live person. Instructions are as follows: ‘move closer’, ‘frame your face’ ‘move away’.
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Data
What Is Data Controller/Service Provider?
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User data storage depends on every client’s Service Agreement.
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Safety And Compliance
Is Ondato Safe?
Ondato takes the security of systems seriously and our priority is to pay close attention to data security. The data servers and information infrastructures are protected with 24/7 monitoring. Ondato is GDPR compliant and certified by International security standart (ISO/IEC 27001:2013).
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Ondato is based on the basic requirements of AML regulation, but this flow can be customized.
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Ondato OS
What Is Ondato OS?
Ondato OS is a pioneering compliance platform that incorporates all the necessary KYC and AML tools and services for a safe client onboarding and lifecycle management.
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