Sybrin and Regula to Provide a Secure Onboarding Solution for US Banks and Financial Services
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RESTON, Va. ~ Financial service businesses now have access to a comprehensive identity verification workflow, thanks to the joint solution offered by Sybrin and Regula. This solution combines Regula Document Reader SDK and Regula Face SDK with Sybrin's KYC (Know Your Customer) onboarding solution and orchestration engine, enabling banks and other financial institutions to securely onboard and verify their customers.

The integration of Regula Document Reader SDK allows businesses to read and verify nearly any identity document in the world. It is backed up by a proprietary document template database which is the largest on the market, containing over 13,000 document templates from 247 countries and territories. This ensures thorough ID verification for organizations operating in the USA alone.

Regula Face SDK provides an additional layer of security in the onboarding process by performing biometric checks and liveness verification. These checks eliminate fraud attempts by detecting static pictures, video injections, masks or filters on applicants' faces, and video replays.

The joint solution also enables businesses to confidently expand internationally while seamlessly adhering to regulatory demands across borders with Sybrin's global KYC orchestration engine. Furthermore, it drastically reduces the risk of falling victim to fraudsters interfering and tampering with data on mobile devices used for remote onboarding.

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The partnership between Sybrin and Regula promises tangible benefits for financial institutions and their customers alike such as enhanced customer experience due to a streamlined verification journey; improved security measures against fraud; accelerated project implementation; quicker customer acquisition; improved customer conversion rates; faster time-to-market; and reduced onboarding timeframes.

Stacey Japhta, Associate Director, Head of Exponential Growth at Sybrin commented: "We are thrilled to announce the strategic partnership between Sybrin and Regula, bringing together two legacy KYC businesses with over 60 years of combined experience. This collaboration is set to deliver a game-changing solution for financial service businesses."

Ihar Kliashchou, Chief Technology Officer at Regula added: "You can never overdo it with authenticity checks, especially in remote onboarding scenarios in financial institutions. The more robust technology you have, the better. The point is to find the perfect balance between reliability and user experience."

The initial focus of launching this joint solution will be on the financial services market but its flexibility allows for potential expansion into other sectors such as insurance, government, and retail - opening up new opportunities for growth beyond the core financial services segment.

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