Nethone KYC: the best approach to KYC and AML compliance

Learn why using Nethone KYC is the best approach to KYC and AML compliance.

Maciej Jamiołkowski

Business Development Lead

10 November 2022


4 min read

The continuing growth in digital financial services - which is increasingly going mobile - has led to a necessity for a smooth customer onboarding process. Every sign-up must be quick and avoid unnecessary customer friction with invasive identity verification measures. We understand it can be tough finding the perfect Know Your Customer (KYC) and Anti-money laundering (AML) vendors, which is why we have created Nethone KYC. With our solution, you can reap the benefits of being both KYC and AML compliant, while ensuring your worldwide customers have a frictionless sign-up process, all while keeping the risk of fraud to a minimum.

The benefits of Nethone KYC over other KYC vendors

First impressions count with every personal interaction, and the concept of signing up for a new digital service is no different. If a potential customer encounters a complex and invasive sign-up process, they will likely be easily scared away. Your business risks breaking the crucial customer relationship at step 1. By choosing an effective KYC and AML solution, you can build a connection with customers from the very beginning by performing practical ID verifications. This first positive impression experienced by your new customers will lead to the build-up of trust and a desire to use your services further.

A secure, positive and frictionless customer UX is possible with Nethone KYC, which works in partnership with Authologic - a trusted orchestrator of KYC & AML - to ensure a seamless ID verification process. Time-consuming and costly manual processes are efficiently eliminated thanks to KYC automation, with your business benefiting from using two advanced services rolled into one solution.


How does Nethone KYC work?

With Nethone’s advanced fraud solution, we can detect suspicious behaviours which may indicate a likely fraud attempt. In such cases, the suspicious user’s sign-up process is prevented from proceeding - saving you time and money by avoiding further, unnecessary KYC checks. This is all performed in real-time, allowing only legitimate users to pass through the process. During the whole process, it is also possible to screen new and existing customers to verify if they are on any sanctions or PEP lists.

Crucially, with Nethone KYC, every user’s location is considered, being compliant with country-specific KYC checks. We can provide various verification processes, from stricter to simplified KYC checks, which are derived from our profiling pre-score of each user. Every single transaction is treated uniquely and an applicable verification path is chosen, based on risk thresholds you are willing to accept in your business:


Nethone KYC: based on the level of risk for each user, an applicable KYC verification process is used

KYC and AML compliance can be easily achieved with machine learning models

The key to effective risk management is to understand the intentions of every single service user. Using behavioural biometrics and digital fingerprinting, we add an effective additional layer to the authentication of users to beat fraud and financial crimes. All analyses take place automatically and in real-time to detect thousands of risks, all powered by machine learning models, which include user behaviours and their intentions and device and network setups.

Knowing all these factors, whether or not a user is making efforts to mask their true identities, device/network settings and locations is essential to understanding the risks posed by each individual user. With Nethone KYC, you can detect and prevent users if they try to sign-up with fake or stolen IDs and credit cards, detect automated bots, and also identify suspicious money movements.


Nethone KYC - a trusted KYC solution

We have a proven track record amongst our customers in providing advanced fraud solutions which aid a seamless customer UX by cutting out unnecessary friction through each step of the customer journey. Nethone KYC is one part of an overall approach to evaluating and eliminating fraud risks. This is possible through the use of machine learning models that power the KYC and AML compliance processes. Our approach is advanced and continually evolving. It’s proven effective, yielding positive results - and lower fraud rates through frictionless experiences.

If you are looking for the perfect KYC solution (one that is KYC and AML compliant), then Nethone KYC can help you in this crucial process. Gaining customers, maintaining ongoing relationships and UX is vital. And it can all be easily achieved, allowing you to focus on growing your business operations more effectively.

Ready for effective KYC?

Ready for effective KYC?

If you wish to learn more about Nethone KYC and how you can implement advanced fraud detection that is both KYC and AML compliant, let's arrange as call.

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