Vouched offers identity verification requirements to provide a more robust KYB and KYC experience for your Account Opening process. With Vouched, once the application is submitted, applicants are prompted to upload identity verification directly within the Account Opening flow, taking a photo of their government-issued ID as well as a selfie. This second distinct Alloy workflow occurs after an initial evaluation in Alloy, only if your financial institution is integrated with Vouched. The Vouched workflow (recommended by Alloy), automatically approves, denies, or places the application in Manual Review (for example, if the image uploaded is blurry or the address does not match).
Vouched provides identity capture solutions for KYC and KYB:
- Vouched fully verifies the identity of users by leveraging artificial intelligence and performs identity checks against multiple points of data to build a data profile that compliments the Visual ID check itself, making it easier for financial institutions to detect and uncover fraud.
- In addition to visual identification and data verification, Vouched helps customers make more informed identity decisions by validating customer identification in the state DMV registry in real time.
Benefits
The benefits of incorporating Vouched into the Alloy workflow as a best practice to defend against fraud include:
- Avoid adding friction into the process for applicants who pass KYC seamlessly and are immediately auto-approved
- Decrease the amount of manual work required by your institution to review all "manual review" applications
- Ability and flexibility to customize, for example, your institution can also choose to add Vouched to sub-workflows that isolate specific product selections
Implementing Vouched
Narmi works with the Alloy team to integrate Vouched Credentials into the document verification workflow. If you are interested in adding Vouched to your Alloy package and workflow, please reach out to your Narmi General Manager or Implementations Project Manager.