Synectics Solutions has partnered with the digital identity platform Yoti to leverage advanced identity verification technology and enhance customer onboarding for its clients. The partnership will help tackle identity fraud and prevent bad actors from accessing and using financial services to commit serious crimes.Synectics will utilise Yoti Doc Scan to digitally transform the customer experience – offering individuals a simple, private and secure way of proving their identity for KYC when applying for financial services. The innovative move will provide Synectics' clients with the ability to:● Verify the identity of end-customers to a high level of assurance in the UK or over 175 nationalities using government-approved documents including passports, driving licenses, and national ID cards.● Allow consumers to prove who they are remotely and securely, globally.● Streamline the approach to customer onboarding and customer due diligence.● Reduce user journey friction and deliver products and services faster than before.● Enhance regulatory compliance through a best-in-class technology solution.As new digital technologies disrupt markets, complex organizations need to move from traditional information management approaches to modern solutions if they want to remain secure and competitive.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.Yoti provides global coverage for businesses through being able to authenticate government-issued ID documents from 175 countries. It uses cutting edge AI to determine that a person is real, through a fast and simple liveness test, and that they are the person who they claim to be through matching their face to the presented ID document. This can offer significant benefits to many regulated firms who still require customers to present certified paper copy proof of identity documents over the counter. 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 – Financial Services at Yoti said: “Our partnership with Synectics Solutions is a key proposition for UK regulated financial services. Verified identities delivered through our Yoti Doc Scan platform compliments best-in-class data services provided by Synectics Solutions. Financial services clients can now look to an end-to-end solution for onboarding new customers or remediating existing customer files, through a comprehensive digital journey. 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.”
Synectics Solutions partners with Yoti
