VerifyNow launches a comprehensive RegTech platform offering South African businesses instant KYC verification, identity verification, and a free RMCP generator.

JOHANNESBURG - Sept. 17, 2024 - PRLog -- VerifyNow.co.za, a proudly South African company, today announced the launch of its innovative all-in-one dashboard platform that offers FICA compliance tools and instant Know Your Customer (KYC) verification at the click of a button. Designed to cater to businesses of all sizes, the platform aims to simplify compliance processes and protect companies against the rising tide of identity fraud and non-compliance penalties.

According to recent studies, South Africa faces a significant challenge with identity fraud, costing businesses millions of rand each year. Non-compliance with the Financial Intelligence Centre Act (FICA) not only exposes companies to hefty fines but also tarnishes their reputations. VerifyNow addresses these critical issues by providing an easy-to-use platform that streamlines compliance and verification processes.

"Our mission is to empower South African businesses to navigate the complexities of FICA compliance effortlessly," said Ru Foster, CEO of VerifyNow. "We understand the risks that identity fraud and non-compliance pose to companies. Our platform offers a simple, efficient solution that can be tailored to the needs of any business, whether small or large."

The VerifyNow platform features:

• Identity Verification: Quickly confirm customer identities with ID and photo directly from the Department of Home Affairs to prevent fraud.
• Easy KYC - Automated Customer onboarding and KYC verification.
• KYC/AML/PEP Adverse Reports Compliance: Ensure adherence to Know Your Customer (KYC), Anti-Money Laundering (AML), and Politically Exposed Persons (PEP) regulations.
• Credit Risk Scores - Obtain swift credit scores with risk levels.
• Driver's License Checks - Instant Driver's License verification
• Customer Tracing: Detailed contact tracing including employment, addresses and phone numbers. Identify all ID numbers linked to a phone number for thorough FICA checks.
• Free Risk Management and Compliance Programme (RMCP) Generator: Create customized RMCPs to meet FICA requirements without additional costs.
• FICA Compliance Toolkit: Access a collection of free training resources and tools designed to simplify FICA compliance.
• User-Friendly Dashboard: Manage all compliance activities from a single, intuitive interface.
• Scalable Plans: Flexible subscription models suitable for startups to large enterprises.
• Secure Data Handling: Advanced encryption and security protocols to protect sensitive information.