The Financial Intelligence Centre mandates that sellers of high value goods comply with Financial Intelligence Centre Act (FICA) requirements before entering a transaction with a client. At its core, it is about verifying the identity of clients to ensure that you engage with legitimate individuals or entities.

Fraudsters will often exploit client onboarding processes by using false identities, forged documents, or stolen credentials. Weaknesses in your processes open the door for such fraudulent activity.

Yet too often, FICA compliance creates time-consuming document collection, slowing down deals and frustrating buyers.

The solution? Leverage smart technology to streamline and speed up this process.

FICA compliance software and services provider nCino KYC’s biometric authentication and verification feature offers exactly that. It enables clients to verify their identity in just a few clicks, cutting down on admin, ensuring FICA compliance, and keeping your sales process moving forward.

nCino KYC is powering a new era in FICA. It takes the hours and complexity out of FICA compliance by giving your team the software and services to work faster, smarter and with complete confidence.

The nCino KYC solution delivers speed with flexibility, with instant identity verification through database checks and biometric matching, reducing onboarding time while maintaining compliance standards.

It also offers advanced fraud protection, where biometric liveness detection and real-time validation create multi-layered security.

A well-designed compliant onboarding process which is aligned to FICA requirements enables only legitimate customers to enter the financial system, protecting both your business and the broader system from financial crime.

With identity theft on the rise, staying ahead is no longer optional. This means adopting the latest technology is no longer an option either, but a necessity.

By using a solution like nCino KYC you can speed up your onboarding while still providing irrefutable proof of customer identity.