ARIE Finance MEA has announced the launch of a new Electronic KYC process for onboarding and meeting the ongoing compliance needs of its clients. This new process will enable ARIE Finance to provide a more streamlined experience for its clients by speeding up the onboarding and verification processes while complying with the Financial Services Commissions regulations.
ARIE Finance MEA has already significantly improved the holistic business and investment banking experience using multiple state-of-the-art APIs and automated tools, connected to its existing onboarding solution and digital platform. The introduction of this Electronic KYC process is just part of the benefits a native digital bank can offer and a significant shift from the traditional, laborious, paper-based process where clients need to provide original paper documents to complete the verification process.
The Electronic Verification tools that form part of the KYC process include verification of identity and address of natural persons and verification of corporate clients’ details.
“The launch of our new e-verification process is clear evolution for ARIE Finance”, said Aisha Sudally, Managing Director Middle East, Asia, and Africa. “Our new process meets all the local regulatory requirements and have already been communicated to the Financial Services Commission. We believe that this new e-verification process will not only improve the experience of our clients and efficiencies of our processes, but it will also form the industry standard in Mauritius moving forward”.
As part of this new process, ARIE Finance is also implementing electronic signatures for client signed documents moving forward, with multiple authentication methods in place to ensure the documents are being signed by the actual recipient.
Sudally continued, “ARIE Finance strongly believes that independent verifications made through the reputable and reliable service providers go well beyond the requirement for certification and as such provide much more assurance to the Commission of its intent to be a pillar for the new age of compliance in Mauritius. We are looking forward to working closely with them to implement more digital processes into a fast-moving and evolving industry”.
