how verification eases compliance for card
how verification eases compliance for card

How Verification Eases Compliance For Card Products: Our Work With Credpal


According to a forecast by Statista, by 2024 there might be an increase to roughly 478 million online buyers in Africa alone, about double the number in 2019. With the current digitization of virtually all aspects of human interactions, including business-to-customer activities, knowing who your customers are without face-to-face contact can be a big task to perform. Although the advancement in digital and online purchases is a good development to the e-commerce industry, it also has its challenges. The burden of confirming a customer’s identity remains a dominant concern. However, the solution is not far-fetched: compliance to KYC and AML policies.

In regulating cybercrimes and online fraud, national and international authorities have successfully introduced various KYC and AML policies. These policies are in the form of regulations and becoming increasingly rigorous for financial institutions to better verify customers’ identities during the opening and maintaining of accounts due to the high risk of fraud experienced in the past few years. KYC policies necessitate Reasonable Due Diligence to know (and retain) the necessary details concerning every customer. Today, companies of all sizes are embracing KYC procedures to protect themselves and their customers.

Although KYC and AML compliance is mandatory for businesses providing financial solutions, because of their roles in enabling customers to open accounts and perform financial transactions on their preferred device, it is imperative to note that many companies are still encountering some difficulties in complying with these policies. Customers want to make purchases online, but fintech companies must contend with AML and KYC requirements while also fighting fraud, financial crime, and mitigating high-risk transactions.


Credpal is a credit card company that allows its users to borrow funds to make payments at the point of purchase. With Credpal’s credit cards, users can purchase items without cash or cheques and withdraw from ATMs.

Credpal is also an innovative solution that allows businesses and individuals to make purchases and pay for them in instalments across online and offline merchants by granting them instant access to credit at the point of checkout.

For them to meet up with the ever-increasing KYC obligations, they use identity pass’ verification solutions designed to help their business deliver both conveniences to their customers and protect their business.

How to Support Credpal:

  • Mobile and web-enabled solutions leveraging on-device technology

Identity Pass enables Credpal’s users to smoothly verify their identities from any location through their mobile or web-enabled devices. In so doing, the prevention of fraud by protecting user’s accounts and offering them the comfort of engaging in business transactions from any part of the world is being achieved.

  • Verification through Biometric authentication

Identity Pass allows businesses such as Credpal to make decisions, explore and manage fraud using a high accuracy face recognition system with liveness detection. Our fully automated facial recognition technology verifies customers’ identities within seconds by simply taking a selfie. AI Image capture technology makes first-time user authentication possible on the first trial. The accuracy of our face detection and biometric verification solutions are highly authentic, empowering Credpal to achieve accurate identity results within a seamless digital environment that meets the users’ desires.

  • Multiple KYC products and services

Our range of verification products and services platforms provides flexible and easy access to a wide range of KYC services. With a secs API technology, companies like Credpal, now easily onboard their customers with multiple verification options making them acquire more users of different categories even as they earn their trusts.

Want to Get a smarter onboarding Process like Credpal?

My Identity Pass is currently available to businesses who desire to have their customers/clients’ and intended partners’ identities verified before engaging in business transactions with them in a fast and easy manner. You can contact our team to get started as a new user. We have a combination of resources for you to get started with My Identity Pass

We are ecstatic about our contribution in powering the growth of different companies ranging from Fin-tech, cryptocurrency, e-commerce, education, and healthcare, and others utilizing IdentityPass’s verification engine to verify identities across the globe. Our most profound aim is to keep developing the most potent, adaptable, and simple identity verification solutions as we proceed on this journey.

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