HyperVerge Identity Verification Platform
NEED FOR KYC

Why KYC & AML for Remittance?

HyperVerge Marketplace

Ensuring the integrity of transactions

KYC and AML procedures help ensure the accuracy

Security of customer information and transactions

HyperVerge marketplace

Maintaining reputation and integrity

An effective KYC and AML procedures can help you establish trust

Easy credibility maintains with regulators and customers

speed of KYC

Improve operational efficiency

Streamlining KYC and AML processes can improve operational efficiency

We can reduce manual effort and errors upto 90%

Prevent fraud

Protection from fraud and illegal activities

Protect your business and your customers from fraud and other illegal activities

Easy credibility maintains with regulators and customers

compliance law

Compliance with laws and regulations

Follow KYC and AML procedures to comply with legal requirements and avoid penalties

We can reduce manual effort and errors upto 90%

~25% to ~5%

Reduced Drop-Off Rate

95%

Straight-through Processing

$300M+

Saved in fraud losses

~10 Sec

Document collection TAT

WHY CHOOSE US

How we stand out?

Transform your business. Our solutions help businesses save time and resources, with an average processing time of less than 5 seconds.

Integration & SupportBusiness Impact
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Technical support

We have a CSAT score of 4.46/5 and NPS score of 72%. 24/7 expert guidance available.
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Flexible pricing

Scalable pricing options with cost savings of up to 50% compared to other solutions.
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4 hour integration

Easy, hassle-free integration with our low-code workflow. Go live within 4 hours.
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Global Coverage

We offer coverage for 195+ countries. Compliance across 10+ industry verticals.
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Eliminate frauds

Reduce the risk of fraud by screening users for global sanctions, PEPs etc.
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Enhanced User Experience

Improve CX and boost user conversions by verifying liveness with just a selfie
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Customisable UI

Flexible UI/UX & customisable workflows to meet the unique needs of your business
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Accuracy & Reliability

Fast, secure verification with 99.5% accuracy and 99.9% uptime.
TESTIMONIALS
Customers love HyperVerge !
Bala Parthasarathy
Bala Parthasarathy

Bala Parthasarathy

CEO, MoneyTap

“We want to make credit much easier and faster for the larger population and not only the elite few. HyperVerge is a team of very smart people from reputed colleges in India and they have cracked the process of identity verification using Al/ML”

Rachel Nguyen
Rachel Nguyen

Rachel Nguyen

Director, CIMB Vietnam

“CIMB is proud to be associated with HyperVerge over the past year. We’ve had a phenomenal experience partnering with them for our eKYC journey.”

Krishna Mohan Vedula
Krishna Mohan Vedula

Krishna Mohan Vedula

VP Payments, MPL

“We were able to reduce the number of cases of cyber crime complaints or chargebacks after we went live with HyperVerge, ”

Mahima Garg
Mahima Garg

Mahima Garg

Chief Risk Officer, slice

“Even at scale, we’ve never had escalations. Teams have resolved any issues with the HV team seamlessly. This is exactly what we want.”

Dhinesh Potnuru
Dhinesh Potnuru

Dhinesh Potnuru

Product Head, IndMoney

HyperVerge made our lives easier through the whole customer acquisition and activation process. We were achieving high business impact after we built in their solutions where there were previously very high drop-offs for the users.

Nikhil Joy
Nikhil Joy

Nikhil Joy

Head of Product, Zest Money

By using HyperVerge’s APIs, we cut short the document validation process from 8-10 mins to 10 seconds.

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Customer Stories

Learn how we supercharge businesses
across industries

Reduce drop-offs at the top of the funnel while providing the most seamless experience

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HyperVerge client feedback SBI HyperVerge client

Frequently
asked Questions

Still have questions?
Connect with our friendly team

Chat with our team
HyperVerge Support

What are the specific regulations and compliance requirements for KYC and AML in the remittance industry?

What are the specific regulations and compliance requirements for KYC and AML in the remittance industry?

  1. The USA PATRIOT Act
  2. The Financial Action Task Force (FATF) recommendations
  3. The European Union (EU) Directive

What are the potential risks and challenges of implementing KYC and AML solutions in the remittance industry?

Some potential risks & challenges include:

  1. Compliance with complex and changing regulations
  2. High costs of implementing and maintaining KYC and AML solutions
  3. Loss of customers due to KYC and AML processes
  4. Difficulty in accurately identifying and verifying customers
  5. False positives in transaction monitoring
  6. Reputational risks from association with money laundering

What are the best practices for implementing KYC and AML solutions in the remittance industry?

Some best practices include:

  1. Conducting thorough risk assessments
  2. Implementing robust customer identification and verification processes
  3. Developing effective transaction monitoring systems
  4. Establishing clear policies and procedures for reporting suspicious activities
  5. Conducting regular internal audits and reviews
  6. Seeking guidance and support from regulatory authorities and industry associations.

Latest Blogs

The latest news, updates and more about KYC industries & related market resources from our team.

View more Blogs
Curbing Frauds in Cross-Border Remittance December 8, 2022

Curbing Frauds in Cross-Border Remittance

Cross-border remittance frauds are on the rise. Here's how businesses can prevent them with HyperVerge.

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Real-Time Income Validation for Lending | HyperVerge

AI-driven real-time income validation is revolutionizing lending. It is improving accuracy, reducing fraud, and accelerating loan approvals.

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