Introduction

In today's digital age, financial institutions face the ongoing challenge of complying with strict Know Your Customer (KYC) regulations. These regulations, set forth by governing bodies such as FINRA, the Bank Secrecy Act (BSA), the USA PATRIOT Act, and FinCEN, require financial institutions to diligently identify and retain the identity of every customer and person acting on their behalf. Failure to comply can result in severe penalties and reputational damage. To address this challenge, Authenticate is proud to introduce ReAuthenticate™, a revolutionary free eKYC service. With just a verified email or phone number and a selfie, ReAuthenticate™ allows any customer of Authenticate to eKYC a user onto their platform effortlessly. This groundbreaking solution eliminates the need for time-consuming manual processes and significantly streamlines the customer onboarding journey.

The Power of ReAuthenticate™:

ReAuthenticate™ leverages the verified credentials that were used to prove a customer's identity the first time their face was seen. By simply providing an email or phone number and taking a selfie, financial institutions can now access these verified credentials, saving time and effort. This service is particularly valuable for banks, brokers, and exchanges that are required by law to perform KYC procedures.

Benefits of ReAuthenticate™:

1. Compliance with KYC Regulations: ReAuthenticate™ enables financial institutions to meet the KYC requirements set forth by FINRA, the BSA, the USA PATRIOT Act, and FinCEN. By utili zing this service, institutions can ensure they are following the necessary procedures to deter illegal financial activities.
2. Streamlined Customer Onboarding: By eliminating the need for customers to repeat the identity verification process, ReAuthenticate™ simplifies and accelerates the onboarding journey. This not only enhances the customer experience but also improves operational efficiency for financial institutions.
3. Cost-Effective Solution: ReAuthenticate™ is a free service offered by Authenticate, making it an excellent cost-saving option for financial institutions. By reducing the need for manual verification processes, institutions can allocate their resources more effectively.

Conclusion:

ReAuthenticate™ is a game-changer for financial institutions seeking to comply with KYC regulations while optimizing their customer onboarding process. By leveraging the power of verified credentials and utilizing a simple email or phone number and a selfie, institutions can streamline their KYC procedures, saving time and resources.

To learn more about ReAuthenticate™ and how it can benefit your institution, visit the Authenticate website at https://authenticate.com/products/reauthenticate. Stay ahead of the competition and ensure compliance with KYC regulations with this revolutionary free eKYC service from Authenticate.