The goal of e-KYC (electronic Know your Customer) is to reduce paperwork and shorten lead times by completing KYC formalities online and in real time in just a few simple steps. As legislation continues to change and we do less and less of our business face to face, it is more important than ever to be able to verify a customer’s identity and background as quickly and reliably as possible. After all, you want to admit your customer into your (online) environment as quickly as possible and without undue delays.

Besides confirming people’s identities, eKYC also provides real-time checks for risks to your business, such as money laundering and other criminal activities. This protects you against reputation damage for your organisation and other stakeholders.

The importance of eKYC

• Do you not check people’s age as part of your registration or login process? Only 25% of all customers enter their correct date of birth.
• 10.4% of your customers have moved and 141,000 people have passed away.
• In 2019, there were 38,343 reported cases of internet fraud. In the first quarter of 2019 alone, the number of internet fraud cases grew by 26%, compared to the first quarter of 2018.
• In 2019, 255,150 people were placed under guardianship and there was a 35% overlap in fraud cases between different sectors. Lastly, more credit cards are stolen in the Netherlands than in most other countries.

The time of blind faith without any guarantees has passed. CDDN allows you to quickly and thoroughly verify your visitors’ identity.

No more than three steps during registration

CDDN offers a three-step customer identification process. The first step is the fastest and does not affect a customer’s waiting time at all.

Up to 75% of a customer’s complete personal data are verified in under 200 milliseconds during the first step of the process (measured by other leading PSPs).

This includes a customer’s:

• Initials and surname
• Address
• (Fixed / Mobile) Telephone number
• Email adress
• Date of birth
• Gender (M/F)

The result is a simple seven-letter code that specifies exactly what information does and does not match the information someone has entered. You are then free to decide what to do with this information.

We are happy to tell you more about the underlying nuts and bolts of this process during a personal meeting.

Step 2:

The second step involves a check with iDIN. The benefits of identification through iDIN are:

• Secure via internet banking
• 100% reliable customer information
• Legal identification
• Suitable for any service or product
• Easy and familiar via a customer’s own bank
• No manual data entry required, reducing the risk of errors or inaccuracies
• Save costs compared to manual data entry

Step 3:

The third step in CDDN’s eKYC process is to inspect identification documents such as a passport, an ID card, a residence permit or a driver’s licence. The online ID check lets you easily verify the authenticity of any type of ID document.

• Save time and money with online verification
• Take no risks and avoid fines
• Real-time online ID checks

Types of ID checks

Depending on the purpose of the check, you can choose one of the following options:

• ID Check Basic – Fully automated MRZ check
• ID Check Plus – Fully automated MRZ check + check of a document’s picture and font by a document expert
• ID Check Expert – Complete check of the entire ID document performed by a document expert

How does it work?

CDDN checks the digitised identity document for security features using both automatic and visual inspections. The results of the check are available almost instantly. A check can have one of only three possible outcomes. The identity document is real, the identity document is fake or CDDN was unable to process the document. CDDN will then provide you with all the information retrieved from the document in a digital format.

Extra assurance

Besides validating people, CDDN also offers extra assurance in the form of information that can affect your admission process in real time. Having access to information about insolvencies or deaths. What about information on house value, buying versus renting a home or income?

Take the Register of Deceased Persons, for example. Up to 100% registration of deceased persons within three months. If possible, we will provide this information along with a proof of death (obituary).

The information was carefully compiled using public data, official registers and transaction data. Information on e.g. income and house value is represented in classes.

Enquire about the possibilities for your optimal eKYC solution without any further obligation and contact us by calling 088 – 835 70 00 or sending an email to info@cddn.nl