By Legal Futures Associate Checkboard [1]
Onboarding with confidence isn’t just about identifying criminal risk among your clients, it’s also about ensuring the very system you use to onboard these individuals is secure and reliable.
Checkboard allows you to quickly and seamlessly identify and isolate money laundering risk with the confidence that your end-client data is being kept safe across the whole workflow.
Here are three ways Checkboard promotes and improves security, trust, and confidence across its systems.
- Separate workspaces
If your firm has several different departments or business areas, the Checkboard dashboard can be divided into separate workspaces to cater for each team.
This gives each team visibility only over the information they need to see, which in turn improves functionality and efficiency, particularly for larger firms with multiple, non-overlapping departments.
It’s also more secure. By siloing data from different parts of the business you can protect the privacy of your clients from prying eyes and ensure your information management meets the stringent GDPR rules.
- App-based model
Checkboard operates on an app-based model. This means users are sent a secure download link to upload documents and complete identity verification on a single, easy-to-use app.
This has two key advantages over a browser-based model.
Firstly, apps are run in an isolated, controlled environment known as a sandbox. This protects users by keeping the app separate from the data and systems on their devices, and by allowing developers to test code in a safe environment. This means users’ data is protected, reducing the risk of leaks and criminal threats.
Secondly, an-app based model enables biometric ID. This is useful both for actually accessing the app using fingerprints and facial recognition, and for NFC passport scans that are essential for meeting HMLR’s Safe Harbour standard of ID verification. Because this requires users to scan the NFC chip in their passport, it can only be done using an app.
- Security certification
Any claims about security mean nothing if there’s nobody holding them to account. Fortunately, Checkboard has the evidence and accreditation to back our claims up.
As a payments provider, Checkboard is regulated by the FCA. We must meet strict standards for information security, in theory putting us at an advantage over other onboarding solutions without FCA accreditation.
We are also ISO 27001 compliant. This is an international requirement for information security, demanding an extremely high standard of compliance. It mandates that data held by Checkboard must be:
- confidential;
- accurate;
- available to the user.
For a firm dealing in large amounts of user data, this is a non-negotiable standard, so meeting it is a signal that we – and therefore our partners – are taking these duties seriously. This protects Checkboard, our partners, and their own clients from criminal risk and cyberthreats. It helps firms build trust and confidence, boosting their reputation.