In answer to the growing demand on professional services firms to demonstrate to relying parties that they have carried out adequate due diligence on remote eSignature and identify verification, VSiD has introduced an easy to use and unique new feature.
David Kern, CEO of VSiD explains, “We have a number of conveyancing and legal claims clients who are being asked by banks, mortgage lenders or insurance companies to provide evidence that the appropriate due diligence has been carried out on their clients’ identity and bank account before they will release funds. As VSiD conforms to UK ICO-eIDAS standards for eSignatures it has the ability to issue authentication certificates for transactions and we enhanced our existing software to allow third parties to reverify them. Not only does this help to speed up the claims or completion process, it acts as a way of demonstrating that these firms are making an effort to reduce the risk of identity and finance fraud. We already issue conveyancers’ certificates to satisfy HMLR requirements and I believe this type of additional certification will soon become a common requirement in other professional services arenas as industry regulators are increasingly insisting on seeing evidence that compliance checks have been undertaken properly.”
VSiD is a leading regulatory technology provider, with a range of solutions designed predominantly for the legal, fintech, property and accountancy sectors. Its applications facilitate Know Your Client (KYC), Know Your Business (KYB) and Anti Money Laundering (AML) checks. It also offers all three levels of eSignature; Simple, Advanced and Qualified. Clients can pick and choose whichever suits their particular level of risk. Also available through its platform are dynamic, intelligent, AI driven SmartForms that can transform a previously disjointed workflow into a secure and seamless process.
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