BASIS ID Review
What is BASIS ID?
BASIS ID is an identity verification and management platform built to accelerate the onboarding process of their customers by automating and streamlining KYC/AML (Know Your Customers/Anti Money Laundering) procedures, enabling users to quickly know the risk level of their customers and potential clients. Aimed towards companies that offer financial products and services, BASIS ID can perform KYC/AML checks on customers from over 90 countries and is ready to go in five minutes or less.
With BASIS ID, users can increase their conversion rate. The software delivers powerful and optimized KYC experiences for users based on prevailing legislation and best practices. On top of that, BASIS ID’s infrastructure is compliant with international AML standards such as FINMA, MAS, HKMA, GDPR, SEC, FCA, and FinCEN regulations and guidelines.
Show MoreOverview of BASIS ID Benefits
Due Diligence Guaranteed
BASIS ID optimizes the onboarding process of your company by creating KYC and AML workflows based on prevailing legislation and compliance policies and industry standards. You will know everything you need about your customers’ AML risk level, helping you make crucial decisions and actions. Trusted by financial services providers and fintech institutions, BASIS ID gives you professional advice on your customers and potential clients as well as your financial product.
Eliminate Manual Verification
You don’t have to hire external verification agents and spend precious time and money validating your customers’ information. You can delegate the whole verification process to BASIS ID and free yourself from the trouble of determining whether your customers are a huge risk or not. The software performs a worldwide check on your customers, validating and filtering every account. It also immediately implements mitigation procedures when specific triggers are activated.
Increase Conversions
BASIS ID automatically identifies and follows up on customers who are lacking sufficient evidence in their initial application. This functionality empowers your customers to comply with your requirements, thus, improving your conversion rate. It improves customer retention as well.
Show MoreOverview of BASIS ID Features
- Compliant Worldwide
- Flexible KYC Settings
- Ongoing Screening
- Consent to Data Processing
- Data Storage & Localization
- Breach Notification
- Secure Data Storage
- Data Encryption
- Third-Party Testing
- Vulnerability Control
What Problems Will BASIS ID Solve?
Scenario 1: BASIS ID has a main provision of know your customer (KYC) services for FinTechs, banks, sharing platforms, and payment systems. They provide a service in full compliance with regulations. Furthermore, BASIS ID offers legal support.
Scenario 2: Financial institutions suffer from dynamic regulatory changes such as eKYC guidelines, anti-money laundering laws and data protection regulations country by country. BASIS ID allows full compliance with regulations of the onboarding CDD and AML procedures worldwide.
Scenario 3: For sponsoring regulated institutions (e-money issuers and bin sponsors), BASIS ID can be used to ensure your FinTech is effectively complying with regulations and corporate policies.
Awards & Quality Certificates
BASIS ID Position In Our Categories
Since businesses have specific business needs, it is only sensible they avoid preferring an all-encompassing, ideal business application. Nevertheless, it would be hard to discover such application even among branded software solutions. The right step to undertake is to list the several essential functions which need research including important features, price plans, skill capability of staff members, company size, etc. Then, you must conduct the research comprehensively. Have a look at these BASIS ID analyses and look over the other software options in your list in detail. Such comprehensive product research can make sure you drop mismatched apps and pay for the system that delivers all the function your company requires for success.
Position of BASIS ID in our main categories:
TOP
50
BASIS ID is one of the top 50 Identity Management Software products
If you are considering BASIS ID it might also be sensible to check out other subcategories of Identity Management Software collected in our base of SaaS software reviews.
There are trendy and widely used systems in each software category. But are they essentially the best fit for your organization’s special wants? A trendy software application may have thousands of users, but does it offer what you need? For this reason, do not blindly spend on popular systems. Read at least a few BASIS ID Identity Management Software reviews and think about the aspects that you desire in the software such as the cost, main tools, available integrations etc. Then, choose a few solutions that fit your wants. Try out the free trials of these apps, read online reviews, get explanations from the vendor, and do your research thoroughly. This profound research is certain to aid you select the most excellent software application for your organization’s special needs.
How Much Does BASIS ID Cost?
BASIS ID Pricing Plans:
Free Trial
Starting from
$0.60/per verification
What are BASIS ID pricing details?
BASIS ID Pricing Plans:
Free Trial
Starting from
$0.60/per verification
BASIS ID offers the following options:
Identity verification
- ID structural validation
- ID digital forgery check
- ID OCR
- ID expiry date tracking
Supported documents
- Passports
- Identity cards
- Driver’s licenses
- Residence permits
- Other
Optical character recognition
- Alphabetical: Latin, Cyrillic, Greek, Armenian, Georgian, Hangu
- Logographic and Syllabic: Hanzi, Kana / Kanji, Hanja
- Abjad: Arabic, Hebrew
- Abugida: North Indic, South Indic, Ethiopic, Thaana, Canadian syllabics
- Automatic OCR autofill / data population
Biometric verification
- Selfie video approach (default)
- Selfie photo approach (optional)
- Biometric facial recognition
- Liveness check
- Spoofing detection
Proof of address
- Verification against ID (Where ID contains address details)
- Verification against Proof of Address document (i.e. Utility bill or Bank statement)
- Existence validation
Anti-money laundering Screening
- Ongoing AML screening
- PEP screening
- Sanctions screening
- Media screening
- AML rules
- Custom blacklists
- AML, CTF, OFAC, PEP, HMT, UN, sanction lists, financial and regulatory agencies law enforcement and courts,
business registers, ID/V and search directories, reference sources, adverse media screening across 245
countries and 42842 global, local and proprietary databases - Anti-money laundering (AML)
- Counter-terrorism financing (CTF)
- Office of Foreign Assets Control (OFAC)
- Her Majesty’s Treasury (HMT)
- United Nations (UN)
- Sanction lists
- Politically exposed persons (PEP)
- Adverse media
- Financial and regulatory agencies law enforcement and courts
- Business registers
- AML rule sets
- Configurable risk scoring
- Custom blacklists
Regulatory compliance
- GDPR compliance
- CCPA compliance
- Financial Action Task Force (FATF)
- 5th Anti-Money Laundering Directive (5AMLD)
- General Data Protection Regulation (GDPR)
- Monetary Authority of Singapore (MAS)
- Swiss Financial Market Supervisory Authority (FINMA)
- Cyprus Securities and Exchange Commission (CySEC)
- Bank Secrecy Act (BSA)
- Financial Conduct Authority (FCA)
STARTING FROM $0.60/per verification
User Satisfaction
Positive Social Media Mentions
234
Negative Social Media Mentions
13
We know that when you make a decision to buy a Identity Management Software it’s important not only to see how professionals rank it in their reviews, but also to find out if the actual people and businesses that use it are actually happy with the product. Because of that need we’ve devised our behavior-based Customer Satisfaction Algorithm™ that aggregates customer reviews, comments and BASIS ID reviews across a vast array of social media sites. The information is then presented in a simple to understand form revealing how many people had positive and negative experience with BASIS ID. With that information at hand you will be ready to make an informed purchasing choice that you won’t regret.
Video
Screenshots
Technical details
Devices Supported
- Web-based
Deployment
- Cloud Hosted
- Open API
Language Support
- English
- Chinese
- German
- Hindi
- Japanese
- Spanish
- French
- Russian
- Italian
- Dutch
- Portugese
- Polish
- Turkish
- Swedish
Pricing Model
- Monthly payment
Customer Types
- Small Business
- Large Enterprises
- Medium Business
What Support Does This Vendor Offer?
- phone
- live support
- training
- tickets
What integrations are available for BASIS ID?
- Application programming interface (API)
- Web software development kit (web-SDK)
- Mutilingual (web- SDK)
- Multi-step verification (via web-SDK)
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