How can Onfido help?
Onfido set the gold standard in terms of client onboarding. Acting as a true partner, we felt supported with best practices and knowledge-sharing. As part of our ongoing efforts to improve conversion and customer experience, Onfido has collaborated closely with us to optimize our performance. Whether it’s their developers or UX Design experts, they have been open and accessible.
Peter Lu, Credit & Lending Product Lead, KOHORead the case study
What are KYC regulations in Canada?
The Proceeds of Crime (Money Laundering) and Terrorist Financing Act of 2001 (PCMLTFA) primarily applies to financial services businesses, with the aim of combating money laundering and terrorist financing. Compliance is managed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). It outlines the methods that regulated businesses can use to verify the identity of their customers.
How can Canadian businesses verify identity?
PCMLTFA regulation allows for a number of remote identity verification methods. Users can scan their government ID using a smartphone or electronic device to be analyzed for authenticity, and also take a selfie photo — to be matched against the photo on their ID. So customers can sign-up for financial services in seconds from anywhere.
Identity verification solutions for Canada
Document and Biometric Verification
Have confidence in your customer’s identity by verifying supported Canadian-issued photo IDs such as a driver’s licence, passport, residence permit, service ID, and indigenous card. Powered by Atlas™ AI, our Onfido document verification uses advanced techniques to assess documents for authenticity.
Build identity verification workflows according to your needs in our drag-and-drop orchestration tool. Users are automatically routed to the path that makes the most sense for them to maximize conversion and minimize risk.
Make document and biometric capture seamless with our Smart Capture SDKs. They feature glare and blur detection, multi-frame image capture, and WCAG AA accessibility features.
Validate user-submitted data against a range of trusted data sources globally and locally. Choose a range of database verification methods including Identity Record, PEPs and Sanctions Watchlists, and more.
Fraud Detection Signals
Analyze passive fraud signals like phone and device intelligence to catch organized fraud without introducing additional user friction.