Secure Customer Onboarding & Servicing
Protect your customers and your organization from fraud and compliance breaches by enabling frictionless multilayer security strategies for KYC and customer authentication without slowing sales and service experiences.
PHOTO ID VERIFICATION
Detect Fraudulent ID in Seconds
Determine whether your customer’s ID is authentic by allowing users to submit their passport, driver’s license or other government-issued photo directly from their cell phone — for quick and convenient ID verification. AI algorithms analyze the authenticity and validity of the photo ID to determine whether the document is genuine or fraudulent.
Automate The Onboarding Experience
Say goodbye to manually inputting customer data from the collected ID into the CRM. Using OCR technology, Lightico is able to extract multiple data points from government-issued ID and documents to be stored in the customer records — including names, dates, images, addresses and more.
FACIAL COMPARISON IDENTITY VERIFICATION
Ensure Customers Are Who They Say They Are
Make sure your agents are talking to the customer matching the submitted ID by collecting a selfie photo to match with the customer’s photo ID. This enables the agent to confirm that the customer they are speaking to is genuine.
The Most Advanced ID Verification Method to Deter Fraudsters
Worried that when taking the selfie picture, fraudsters might take a picture of a static image of the person they are trying to impersonate? We have that covered. Liveness detection algorithms validate that the captured image is of a live scene, which confirms that the selfie image was taken live.
DOCUMENT COLLECTION & VERIFICATION
Instantly Determine Proof of Customer Information
Simplify onboarding processes by enabling customers to use their cellphones to easily snap and submit photos of documents such as utility bills, proof of income and bank statements in real time.
Verify & Authenticate Customers Without Friction
KBA is an essential component that requires the knowledge of private information of the individual to prove that the customer providing the identity information is the owner of the identity. Lightico uses both static “shared secrets” and dynamic “out-of-wallet” questions to prove the customer’s identity at the start of a Lightico session.
ONE-TIME PASSWORD (OTP)
Protect Your Customers from Fraudulent Replay Attacks
Leverage one-time passwords which require end-users to provide the OTP through both voice and digital channels. OTP is a password or PIN that is only valid for one transaction. In addition, two-factor authentication is used to ensure that the customer is verified over multiple channels, bolstering agents’ confidence in the legitimacy of the customer on the call.
Capture a Full Timeline of Time-Stamped Events
Every Lightico interaction is recorded with a fully time-stamped audit trail containing details of the type of identity checks (e.g., photo ID and KBA) performed, along with the results. This includes the request/response in JSON format with the details of the check performed.
Add a Layer of Security to Your Customer Transactions
Verify customers by validating ownership of the mobile phone that they are calling from. The agent sends a text message to the customer’s mobile phone, and when they vocally confirm they have received the text message and click on it, they are verifying that they are in possession of the phone.
Ensure Compliance and Protect Your Customers’ Information
For elevated risk transactions that involve PPI or other sensitive data, additional layers of verification and security can be added to guarantee customer data privacy. Lightico adheres to the toughest security and compliance standards to ensure that all your communication and data are encrypted both in rest and motion.
Customers’ identities are verified in real time from their cell phones. This reduces the need for in-person visits and eliminates the need to chase customers for documents via email and fax.See in it Action
Smooth and intuitive identity verification and authentication ensures maximum fraud protection and customer security while maintaining efficiency and customer experience.See it in Action
Call agents can guide customers through the ID verification process while on the phone to ensure processes are completed instantly. This eliminates any customer confusion and errors that could harm completion rates and turnaround time.See it in Action
How Lightico Photo ID Verification Can Impact Your Business
Accelerate ID&V for Smooth Onboarding
Stop bouncing your customers around multiple touchpoints like scanners, emails and branch visits to complete compliance requirements. Enable customers to instantly provide ID on-the-go, which can be verified in seconds.
Fraud Detection & Prevention
Protect your organization from fraud with multi-modal spoofing detection, forensic-level forgery, counterfeiting, selfie-to-ID face matching, and risk factor auto-detection.
Enable Effective KYC and AML
Quickly and accurately verify your customer’s identity in accordance with KYC (Know Your Customer) and AML (Anti Money Laundering) requirements and check for potential risks to your organization in seconds.
Lightico Photo ID Verification FAQ
ID verification refers to the ability to prove a person’s claim to a certain identity is legitimate. There are many technological services and capabilities that enable ID to be verified practically beyond a shadow of a doubt. Such services are critical in an era when identity theft schemes are more sophisticated than ever.
Furthermore, companies, particularly financial institutions, are concerned with complying with Anti-Money Laundering and (AML) and Know Your Customer (KYC) regulations. ID verification is a critical aspect of satisfying these measures.
ID verification works differently depending on the particular method or software that’s being used. Lightico’s ID verification capability is able to confirm an individual’s identity through an entirely digital process. Here’s how it works:
Government Issued ID can be verified straight from a customer’s cellphone, wherever they are. The customer simply takes a photo of their ID and a live selfie using their cell phone camera, they are matched and verified in seconds using the latest AI technology. This convenience is not only efficient for the business but also very convenient for customers.
- A company representative sends the customer a text message with a link that opens to a secure mobile session.
- The customer snaps a picture of their ID and a live selfie with their mobile phone camera.
- The selfie is matched with the ID, and verified using AI technology.
- The customer can also upload documents, fill out forms, and provide an eSignature — all in the same session.
With more business than ever moving online, it’s critical to establish the legitimacy of online customers. Electronic ID verification uses a combination of personally and publicly available data to establish a person’s identity. Computerized systems are able to compare these pieces of information and determine if there’s a full match, a partial match, or no match.
ID verification enables businesses, particularly financial institutions, to prevent fraud, maintain compliance, and foster public trust in their company. In addition, governmental bodies such as the IRS frequently require ID verification, which checks the veracity of personal account numbers from credit cards, mortgages, student loans, home equity loans, and car loans.
In the case of the IRS and many other bodies, the ID verification process involves agents asking a series of questions that only the respondent knows the answer to. This significantly reduces the probability of fraud, but it’s also more time-consuming than some of the latest AI-based digital verification technologies. Companies that move to electronic ID verification will see their security improved without any negative impact on their efficiency.
Know Your Customer (KYC) verification refers to the process of identifying prospective customers to make sure they truly are who they claim to be. The term also refers to the anti-money laundering and compliance regulations that drive financial institutions’ determination of who is allowed to conduct banking, and who isn’t.
Yes. Banks are bound by regulations that require them to conduct KYC procedures. Whether it’s through face verification, ID card verification, or document verification, financial institutions need to have some way of verifying an applicant’s identity. The rules are stringent because the stakes are high: identity theft, money laundering, terrorist activity, and other schemes are all possible without KYC verification in place.
Anti-money laundering (AML) refers to rules, procedures, and regulations designed to prevent bad actors from concealing illegally obtained money or passing it off as legitimately earned. Not all banking transactions are regulated by AML laws, but some such as new customer onboarding are. Furthermore, banks continuously monitor their customers’ banking activity and are required to report suspicious behavior.
The terms KYC and AML are very similar, but not exactly the same. KYC refers to the process of banks verifying customers’ identities before permitting transactions. AML is a broader term that covers all measures financial institutions take to fight terrorist financing, money laundering, and other criminal actions.
KYC is a crucial component of any financial institution’s broader AML efforts. Any financial institution that onboards new customers will need to ensure KYC procedures are in place. While AML requires more than just KYC, KYC is an essential part of it for banks.
Just as KYC is a component of AML, Customer Due Diligence (CDD) is a component of KYC. It is a way of collecting customer data surrounding name, place of residence, and other identifying details — and then assessing the level of risk the customer presents.
Enhanced Due Diligence (EDD) is yet another aspect of the KYC process that’s reserved for customers deemed high risk. Whether it’s due to the location of their business, nature of their business, business or personal relationships held by the customer, or something else, some customers possess certain characteristics that make them more likely to be bad actors. Rather than just turn away everyone who presents as high risk (and lose out on legitimate business opportunities) banks employ EDD to keep a closer eye on these customers.
Know Your Customer (KYC) refers to the process by which banks ensure prospective customers are legitimate both before opening an account, and while conducting transactions while maintaining an account.
KYC is critical to the banking industry because it ensures that criminals and other bad actors can’t easily disguise or hide illegitimate funds. KYC processes protect banks from financial and reputational harm, and help ensure compliance with government regulations.
eKYC stands for Electronic Know Your Customer. It refers to digitized ways of verifying customer identities and preventing fraud. The major advantage of eKYC is that it’s far less time-consuming and cumbersome than traditional KYC, while maintaining or increasing adherence to regulations and rules.
Lightico makes fulfilling KYC compliance requirements simple for both banks and their customers through digitization. Customers simply send a government-issued ID to their bank, along with a live selfie with their mobile phone camera. Lightico uses forensic-level forgery and spoofing auto detection to determine whether there is a match. Lightico’s technology exceeds the regulatory requirements, making it a good choice for both security-minded and convenience-minded banks.
AML stands for Anti-Money Laundering. It refers to a broad set of measures banks take to reduce their exposure to bad actors using their banks to disguise illegitimate funds as legitimate income.
The AML process is critical for banks’ financial and reputational standing. First and foremost, there is no getting around AML — auditors and regulators require it, and banks’ compliance officers will in turn demand it. Due to new and more stringent regulations over the years, many banks are turning to digital, AI-based solutions to tackle compliance with greater efficiency.
Lightico’s digital ID verification capability allows banks to significantly reduce ID-related fraud through an AI-based system that compares customers’ selfies with uploaded IDs. It also reduces the cost of staying compliant and increases agent efficiency. It takes less than 10 seconds to authenticate ID using Lightico, which is more than 20 times faster than other products on the market.
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"Great tool to expedite customer service"
The most helpful thing about Lightico is the fast turnaround time, The upside is that you are giving your customer an easy way to respond quickly and efficiently. Lightico has cut work and waiting time as you can send customer forms via text and get them back quickly, very convenient for both parties.
"Great Service and Product"
I love the fact that I can send or request documents from a customer and it is easy to get the documents back in a secured site via text message. Our company switched from Docusign to Lightico, as Lightico is easier and more convenient than Docusign, as the customer can choose between receiving a text message or an email.