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Identity Verification & Know Your Customer (IDV/KYC) Post Covid Changing Landscape & Regulatory Need
iinked Sign and Video Signing Room to add ID Verification Features
Syngrafii is pleased to confirm that it will release to the market, in Q4 2022, additional functionality to its iinked Sign™ and Video Signing Room™ platform, which meets and exceeds the requirements of The Law Society of Ontario (LSO) for the verification by its Licenses of individuals by use of video conferencing technology. This will be accomplished by enabling connected identity verification (IDV) through one or more third-party IDV providers, in a fully integrated offering.
These services will be offered via a consumption-based per-transaction fee consistent with Syngrafii’s Pay-As-You-Sign™ pricing model for its iinked Sign™.
LSO statement:
Effective January 1, 2023, licensees who choose to verify the identity of an individual using video conferencing technology or other forms of virtual communication will be required to authenticate the government-issued photo identification document. Verifying identity by only viewing an individual and their government-issued photo identification virtually will no longer be permitted.
https://lso.ca/news-events/news/latest-news-2022/new-requirements-for-virtual-verification-of-clien
These verification features will augment iinked Sign™ and Video Signing Room™ current ability to collect and include identification documents in its workflow and audit trail.
Syngrafii’s ID verification and know your client function will first be released in Canada and then expand to all of its global markets.
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