Veriphy Ltd.

Veriphy Ltd. is an award-winning specialist SaaS business providing KYC and AML compliance solutions. It serves regulated and parallel entities such as legal, accounting, financial, banking, property, and insurance sectors. The company has been operating since 2007 and is part of Davies. It offers a single platform for complete compliance control from onboarding to ongoing monitoring.

The platform offers a range of specific checks including JMLSG-compliant AML/KYC checks, credit screens, 360 Check, company checks, lawyer bank account checks, and biometric scanning with liveness detection. It also provides PEP/sanction monitoring on people, entities, vessels, and aircraft, as well as Experian Fraud Score and adverse credit data screening. These tools are designed to verify customers, companies, and employees throughout the full lifecycle.

Veriphy offers a pay-as-you-go service model with no annual platform fee, no platform renewal fee, and no monthly subscription fee. Prices start from £6.00 for an AML & anti-fraud check with biometric and PEP/Sanction monitoring options. Other standalone options include biometric checks for £3.50/£5.00, PEP/Sanctions screens for £1.50, and entity sanctions screens for £1.00. A bespoke quote is available for large businesses requiring a full product range.

To get started, users can create an account and log in for smaller businesses, or access the platform via batch or integration for larger organizations. The process involves running the specific checks needed, such as biometric and document scanning with liveness detection. Veriphy provides a free demo upon request, and their experts will create a customized demo once the form is submitted.

The platform is designed to help regulated entities maintain AML regulatory compliance, increase client onboarding speed, and minimize time-to-revenue. It aims to mitigate and control risk within a secure data environment while providing a flexible and user-friendly customer experience. The services align with AML, POCA regulations, and JMLSG guidelines to help avoid regulatory penalties and minimize fraud exposure.

All transmissions to and from Veriphy's servers are encrypted using GlobalSign certificates, which is described as the world's leading organization in online security. The company operates an ISO27001-certified secure verification platform that offers a unique combination of checks from multiple digital sources. This ensures data security while providing flexibility and rapid support for users.

Veriphy is recognized by the Joint Money Laundering Steering Group (JMLSG), which provides guidance to regulators like the FCA, ICAEW, CCAB, OFT, and Law Society. With the introduction of the 5th EU Money Laundering Directive, electronic verification has been encouraged and endorsed by regulators and professional bodies. This recognition helps businesses align with current regulatory requirements effectively.

The platform offers a flexible API that can be seamlessly integrated with existing management systems to streamline client onboarding. Users can orchestrate, automate, and optimize perpetual compliance and onboarding processes through this integration. The API allows for quick verification and validation of client information to get them onboarded efficiently.

Veriphy's website states that it is the only AML & Compliance platform that can provide maximum flexibility while delivering top-quality compliance. It allows users to align costs with usage to help control risk management expenditure. The unique payment model supports both SMEs and large corporate organizations with ease.

Recent Trustburn reviews from 2023 highlight that the platform is easy to navigate and the process is simple. Users praise the customer support team for being helpful and responsive. The verification process is described as quick, hassle-free, and efficient by multiple reviewers.

Veriphy serves sectors such as finance, legal, and real estate, targeting businesses of various sizes requiring regulatory compliance and fraud detection. The platform is tailored for regulated and parallel entities who need to maintain AML and regulatory compliance. It covers areas from legal to insurance, ensuring broad applicability across different industries.

Veriphy offers a free demo for new users, allowing them to explore the platform before committing. The onboarding fee is an affordable one-off cost, followed by payment for the checks carried out. This model ensures flexibility and affordability for businesses of all sizes looking to implement compliance solutions.

You can reach Veriphy Ltd. by e-mail at [email protected].

The official website of Veriphy Ltd. is veriphy.com.

On Trustburn, Veriphy Ltd. has a rating of 4.1 out of 5 based on 10 reviews.