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You asked, we listened. For the first time in NZ, you can now invite your customers to link their bank accounts to support onboarding and compliance processes.

Cloudcheck has teamed up with Akahu, the open finance platform that provides integrations with NZ banks. As any compliance manager knows, it’s never one-size-fits-all. Which means we’re seeing a range of different bank integration use cases from our clients. Popular examples include:

• Link the customer to their claimed identity: Verify the holder(s) of the connected bank account as a replacement or alternative to biometric verification.
• Address verification: Verify the address from the bank account to increase automatic match rates and reduce manual follow up.
• Bank account verification: Verify the holder(s) and account number before accepting deposits or processing withdrawals.

And, you can take advantage of these options as a standalone service, or as an additional measure alongside one of our existing verification methods such as Cloudcheck Go.

Akahu: ‘’Our purpose is to empower kiwi consumers to gracefully control and leverage their data’’

During the verification process, your customer is redirected to Akahu where they are given the option to link their bank account and consent to sharing the requested information. Akahu’s integrations with NZ banks will then retrieve the permissioned information from the selected bank account and return this information to Cloudcheck to pass or fail the verification. All without us ever seeing any banking credentials of your customer.

All data collected is deleted from our system after 7 days, providing assurance to your customers that their data is only held whilst needed for the specified purpose.

Vincent McCartney, Managing Director of Cloudcheck commented;

‘’By teaming up with Akahu, our clients feel more secure with the ability to verify their customers (and their accounts) through a service which speaks directly to the bank itself.’’

Our goal is to simplify your customer due diligence processes and support your compliance with AML/CFT obligations. Cloudcheck’s partnership with Akahu is another step to remain at the forefront of compliance solutions in New Zealand.

If you are an existing customer, or have never tried us before and would like a free two-week trial of Cloudcheck with Akahu, you can call us on (New Zealand) 0800 283743, (Australia) 1300 849 290 or email us at sales@verifidentity.com.

Contact Us — Verifi Identity Services — Electronic identity verification (EV) and AML services for New Zealand business. (verifidentity.com)

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