Enhancing Global compliance for Remittances
Comprehensive KYC and AML solutions to reduce financial risk and enhance trust.
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NEED FOR KYC
Why KYC & AML for Remittance?
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.
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We have a CSAT score of 4.46/5 and NPS score of 72%. 24/7 expert guidance available.
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Scalable pricing options with cost savings of up to 50% compared to other solutions.
Easy, hassle-free integration with our low-code workflow. Go live within 4 hours.
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We offer coverage for 195+ countries. Compliance across 10+ industry verticals.
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Reduce the risk of fraud by screening users for global sanctions, PEPs etc.
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Improve CX and boost user conversions by verifying liveness with just a selfie
Flexible UI/UX & customisable workflows to meet the unique needs of your business
Instant authentication for enhanced screening verification with 99.5% accuracy
CUSTOMER STORIES
Customers love HyperVerge!
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.
"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."
“We were able to reduce the number of cases of cyber crime complaints or chargebacks after we went live with HyperVerge.”
“Even at scale, we’ve never had escalations. Teams have resolved any issues with the HV team seamlessly. This is exactly what we want.”
"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."
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
CUSTOMER STORIES
Frequently asked questions.
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The specific regulations and compliance requirements for KYC and AML in the remittance industry will vary depending on the country or jurisdiction in which the remittance company operates.
In general, however, there are several key regulations and compliance requirements that are commonly applicable to the remittance industry, including:
1. The USA PATRIOT Act
2. The Financial Action Task Force (FATF) recommendations
3. The European Union (EU) Directive
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
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.
