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
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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 may also be a good idea to analyze other subcategories of Identity Management Software gathered in our database of B2B software reviews.
Each organization has different wants and requires an application that can be customized for their size, kind of employees and buyers, and the specific industry they are in. For these reasons, no system can provide perfect features out-of-the-box. When you search a software product, first be sure what you require it for. Read some BASIS ID Identity Management Software reviews and ask yourself do you desire basic features or do you want sophisticated functionality? Are there any industry-specific features that you are seeking? Find the answers to these questions to help your search. There are plenty of aspects that you need to reflect on and these include your budget, particular business needs, your organization size, integration requirements etc. Take your time, use a few free trials, and finally select the platform that presents all that you want to boost your organization effectiveness and productivity.
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 are aware that when you make a decision to get a Identity Management Software it’s vital not only to find out how experts evaluate it in their reviews, but also to find out whether the actual people and companies that purchased these solutions are genuinely happy with the product. Because of that need we’ve created our behavior-based Customer Satisfaction Algorithm™ that gathers customer reviews, comments and BASIS ID reviews across a broad array of social media sites. The data is then presented in a simple to understand format indicating how many people had positive and negative experience with BASIS ID. With that information available you should be prepared to make an informed business 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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