Newcastle Building Society replaced its paper-based ID verification process for new applicants with an online system provided by GB Group.
The implementation of the GB Group's URU system in the branch has led to:
- improved speed & accuracy of ‘Know Your Customer’ (KYC) identity processing
- improved regulatory compliance & extensive audit trail
- greater corporate confidence, security & risk based decisions
- standardised identity verification procedures
The UK-based building society is now planning to roll out the system across other routes to market, including the Internet, call centres and to process third party applications.
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