{"id":132358,"date":"2021-07-15T18:24:15","date_gmt":"2021-07-15T18:24:15","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132358"},"modified":"2021-07-15T18:24:15","modified_gmt":"2021-07-15T18:24:15","slug":"the-financial-commission-partners-with-identity-verification-service-getid","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/the-financial-commission-partners-with-identity-verification-service-getid\/","title":{"rendered":"The Financial Commission Partners with Identity Verification Service GetID"},"content":{"rendered":"<p>The Financial Commission (FinaCom) announced on Thursday that it arranged a partnership with GetID, an identity verification service, to allow FinaCom\u2019s members to get entitled to around 50 free verifications. According to the press release shared with <em>Finance Magnates<\/em>, the new offering will enable brokers that are already using the service to increase their conversions up to 40% and cut down verification by 90%, citing a recent case study.<\/p>\n<p>The integration allows brokers to integrate GetID into their operations with several options offered by the service, including Mobile and Web SDKs, API, or Cloud-based verification page. Specifically, the Financial Commission stated: \u201cBroker members can conduct swift and remote KYC and onboarding; reduce workloads for compliance teams; save on compliance and legal expenses; quickly capture necessary data and speed up the processing; customize their onboarding process to their company\u2019s needs.\u201d<\/p>\n<p>Moreover, by onboarding GetID into the processes of the brokers\u2019 operations, entitled firms could get the latest feature of the verification service dubbed \u201cKYC flow builder,\u201d which allows developers and compliance officers to implement online verification systems under specific regulatory requirements. \u201cBrokers can take advantage of the system\u2019s flexibility by using the administration portal, which allows operations and compliance departments to oversee verification results, easily manage processes and collaborate with team members,\u201d the FinaCom added.<\/p>\n<h2>Conditions for the Verification<\/h2>\n<p>However, the Financial Commission clarified that the GetID service provides 50 complimentary identification verifications for broker members who are in good standing with the FinaCom per the Commission\u2019s rules and guidelines.<\/p>\n<p>In recent developments related to the commission, <em>Finance Magnates<\/em> reported that FinaCom announced Cypriot broker Fxview became a newly approved member of the self-regulatory organization. The brokerage\u2019s joining the self-regulator amid increased interest and demand for independent external dispute resolution (EDR) services among FX industry participants.<\/p>\n<p>The commission also green-lighted the foreign exchange brokerage, Opoforex, as the new Commission member recently.<\/p>\n<p>Source: <a href=\"https:\/\/www.financemagnates.com\/forex\/the-financial-commission-partners-with-identity-verification-service-getid\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Commission (FinaCom) announced on Thursday<\/p>\n","protected":false},"author":3,"featured_media":132357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Financial Commission Partners with Identity Verification Service GetID - 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