MetaTrader 5 Incorporates Trader KYC Verification From Sum&Substance
LIMASSOL, Cyprus, December 16, 2019 (Newswire.com) - MetaQuotes' Press Service has announced the trading platform integration with the Sum&Substance KYC service, which enables the validation of client personal data and documents with one click. The new functionality provides further automation of client onboarding procedures for MetaTrader 5 brokers and the minimization of manual operations. The data check process, from form and document submission to account verification, takes on average around two minutes:
- When requesting a preliminary account from the desktop or mobile terminal, the trader fills a registration form and uploads the documents.
- A preliminary account allocated on the server is linked to the client record. The account details along with the documents are copied to the record.
- The data and the documents are automatically forwarded to the KYC provider's system. The confirmed or rejected status is then set based on the document checking result.
Upon confirmation, the trader's preliminary account is moved to a real group. The client can make a deposit and start trading.
The KYC provider verifies user data using the most advanced technologies such as computer vision, AI and machine learning, and thus, the identity can be confirmed almost instantly. To ensure high-level data protection, Sum&Substance uses crypto monitoring and data transmission via secure communication channels.
Sum&Substance provides GDPR-compliant services and ensures the necessary infrastructure for the safe storage of user information.
Sum&Substance provides an all-in-one technical and legal toolkit to cover KYC/KYB/AML needs. It is a single powerful platform to convert more customers, speed up the verification processes, reduce costs and detect digital fraud.
Global coverage of over 200 countries and top market technologies, combined with the legal expertise, helps companies to meet financial requirements across the globe (FCA, CySec, MAS, FINMA, BaFin, etc.) and expand into new regions.
Sum&Substance clients: Exness, WebPay, FXOpen, Maxi Partners, Bank Dobrobyt, BlaBlaCar, Gett, ESL Gaming, JobToday, Wheely, Vk.com, Yandex and Decta, among others.
Source: MetaQuotes Ltd.