Income Verification

One method to verify a customer's income is through Open Banking. In this approach, customers consent to share their data via secure APIs. FOCAL then retrieves raw transaction data from the accounts and employs sophisticated algorithms for income detection and verification. This process results in a detailed verification report that includes a breakdown of income and other details. If, however, there is a need to verify specific aspects of an individual's income, such as solely their monthly salary, simpler alternatives are available. These include native integrations with trusted data providers, offering a streamlined and efficient means to access targeted financial information.

Yes, FOCAL customizable platform capabilities enables a tailored Verification and Customer Due Diligence solution to our client’s unique needs and risk profiles. Allowing you to select what products and features they need.

We understand the complexity of different organization’s goals, timelines and infrastructure. Hence FOCAL is built around the concept of adaptability. Choose what works best for you, integrate our technology through API to enable auto-sync with internal systems or simply adopt our user friendly UI for instant functionality.

Proactivity is your best defense. By staying ahead during your onboarding process, you not only enhance operational efficiency by introducing automation and improving customer experience but also combat fraud and maintain AML compliance in a constantly evolving environment. This approach solidifies your organization's reputation and strengthens customer trust.

Absolutely, FOCAL is designed to adhere to industry standards and regulatory requirements, helping you maintain compliance and avoid potential legal repercussions.