Financial Commission approved broker member, DealFX has announced that it has launched the AutoCamPass (B version) for its operations relating to KYC processes. The broker will now be able to move swiftly and accurately process customer documents during onboarding procedures.

The AutoCamPass system “automatically reads the information and authenticity of KYC-related documents submitted by customers and uses its own algorithm to automatically determine whether or not it is the document of the submitter. In addition, AutoCamPass conducts screening using the World-Check database, it has a function to scan customer information at the same time in order to prevent unauthorized financial transactions and credit card usage”.

This type of approach to automating onboarding processes is a great way to increase efficiency, but also security, by adding technology to create an additional layer of protection without sacrificing processing time.