FAQS.

Frequently Asked Questions

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faq

TrueCheck Automated onboarding refers to the use of technology to streamline the process of enrolling new customers or users, reducing manual intervention, and speeding up the verification and approval process by 7X.

Importent Features
1. Spam Protection
2. Customer Deduplication (Input)
3. (Paperless & Paperbased) Automated Onboarding (Tamper Detection, Form Prefiling)
4. Cutomer Deduplication (Documents)
5. (Paperless & Paperbased) Automated Underwriting (KYC)
6. Automated Verification (Paperless) (E-KYC, O-KYC), (Paperbased) Video KYC)
7. Cutomer Profiling
8. Re-KYC
9. (Paperless & Paperbased) Financial Analytics (Extraction and Processing)
10.Financial Underwriting (Verification, Fraud Prevention)
11.Financial Profiling
12. (Paperbased) Medical Analytics (Extraction and Processing)
13.Medical Underwriting (Verification, Risk Assessment)
14.Medical Profiling
15.Profiling & Risk Managment (Rating, Scoring)

Spam Protection & Deduplication with Customer Data!

Paperless
TrueCheck platform uses AI and machine learning to validate government api data, match Facial recognition, validate digital Signature for Automated Onboarding,

Paperbase
TrueCheck platform uses AI and machine learning to prefilled & validate scanned Documents, match Signature & Facial recognition for Automated Onboarding,

After Automated or Manual Onboarding, it does cross-check (Automated Underwriting) user information against internal and external databases (Deduplication) to ensure the authenticity of the unique and trusted identity for customer Profiling.

The platform typically supports the verification of various Paperless -Goverment Services & paperbased documents such as

KYC (Passport, Driving License, Pan Card, Voter Card & Aadhaar Card)

Financial (Bank Statement, Cheque, ITR, Form16, Form26AS, NACH, PaySlip & PNL)

Medical (Test Reports, Hospital RateCard & Medicine Bills)

Utility, Mobile, Electricity, Invoice bills and more.

The platform is designed to comply with global and local regulations, such as KYC (Know Your Customer) and AML (Anti-Money Laundering), ensuring that businesses meet all legal requirements.

It also complies with other Indian authorities, such as IRDA, RBI, SEBI, and TRAI.

Yes, the platform employs encryption, secure data storage, and other security measures to protect sensitive information during the verification process.
Most platforms offer API integrations, allowing seamless connection with CRM systems, financial services, popular DMS and other business applications.

The onboarding and verification process is typically completed within a minute or two,

depending on the complexity of the product and services offered
or
the provided customer documents required by the usecase.

If a document fails verification, the platform may prompt the user to provide additional information or documents against the trigger requirement via "Business Rules Engine" (BRE),

or it may flag the account for manual review (Manual Underwriting).

KYC typically System has 97% Field Level and 92% Document level STP using Automated Underwriting.

Financial typically System has 94% Field Level and 90% Document level STP using Automated Underwriting.

Medical typically System has 98% Field Level and 95% Document level STP using Automated Underwriting.

Yes, advanced fraud detection features are integrated, using AI to identify suspicious patterns and flag potential fraud attempts.

Offline Tamper Detection using CFA, Data Pattern Validation, Face and Signature Verification!

Online BlockChain, Internal Deduplication, External Deduplication (Government Services - API, Social Profiling and Scanning)!

Industries such as
Banks,
NBFC,
Insurance,
Telecommunications,
E-Commerce,
Healthcare,
Education and
Defence
can benefit from the platform, as it ensures secure and efficient customer onboarding.

Financial Risk Management (FRM)

What are the key components of a financial risk management strategy?
The key components include risk identification, risk assessment, risk mitigation strategies, continuous monitoring, and reporting. Effective strategies also involve stress testing, scenario analysis, and regulatory compliance.

What role does technology play in financial risk management?
Technology plays a critical role by providing tools for real-time monitoring, data analysis, predictive modeling, and automation of compliance processes. This enhances the accuracy and efficiency of risk management efforts.

How can organizations balance financial risk management with business growth?
Organizations can balance risk management with growth by integrating risk management into their strategic planning, adopting a proactive approach to risk, leveraging technology to streamline processes, and maintaining flexibility to adapt to changing market conditions.

What are the consequences of non-compliance with financial regulations?
Non-compliance can lead to severe penalties, including fines, legal sanctions, reputational damage, and loss of business licenses. Organizations may also face increased scrutiny from regulators.

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