KYC stands for Know Your Customer, a process used to verify the identity of customers which helps us to prevent fraud, money laundering and other illegal activities by ensuring that businesses know who their customers are and can assess the risks associated. Below you can see a summary of the onboarding process that every user needs to follow:
User Registration
The customer begins the onboarding process by registering on the Simur mobile app. We collect personal information such as email address and country of birth and it is required to verify your email address before continuing with the onboarding process.
Biometric verification
At Simur we use biometric verification which is a way to confirm someone's identity using unique physical or behavioral traits such as fingerprints, iris patterns, facial features and voiceprints.
Powered by AI, this technology enhances security, offers convenience with faster authentication than traditional methods like passwords or ID cards that can be forgotten easily, and reduces fraud and identity theft by making it challenging to fake biometric traits.
During the onboarding process, you will be asked to use biometric data for security purposes, such as fingerprints or facial recognition, depending on the capabilities of your device.
Document verification
Once your information is collected, the next step is to verify it using official documents. You must submit government-issued identity documents such as your passport, ID national card or driver's license. You will need to provide a front and back photo of the document for verification purposes.
NFC verification
If available, we use this feature to read the information stored in the chip of the ID document and then compare it with the data on the document itself.
Liveness Detection
To ensure the verification process is secure, we use liveness detection. This feature verifies that the person undergoing verification is present in real-time, safeguarding against fraudulent attempts using static images or pre-recorded videos. It adds an additional level of security, assuring our users that their identity verification is thorough and reliable.
During the onboarding process you will be asked to turn on your camera, smile and move your head to the right. This fast and simple process will help us detect your face, recognize and locate facial features and track facial expressions such as smiling or closing your eyes. This will provide us with the information we need to safely verify your identity through a selfie and a short video.
Risk Assessment and Compliance Checks
We conduct checks to ensure compliance with regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) regulations.