Popular on TelAve
- L2 Aviation Announces Strategic Growth Investment from Argentum - 107
- Sycamore Hills Dentistry Welcomes the Yomi Robot: The Future of Dental Implant Surgery
- Desert Water SL and Planet Alpha Corp. map carbon for the country of Sierra Leone using satellite data for conservation and the creation of carbon
- Hoffman Homes Unveils New Brand
- GitKraken Launches DevEx Advance Partner Program to Help Atlassian Solution Partners Elevate Their Clients' Developer & DevOps Team Productivity
- Zoiko Telecom joins BT Wholesale's Partner Plus to bring enhanced connectivity to UK customers
- Acquisition of Clinics Generating $100 Million to Complement Progress on Accelerated Drug Approval for Bipolar Depression NRx Pharmaceuticals: NRXP
- Energies Media: Unifying Insights Across the Energy Spectrum
- Tobu Railway Group's Tobu Kogyo Division Has Renovated the Kotoku Cattle Farm in Nikko National Park and Reopened it as of July 1, 2024
- CCHR Seeks Redress for Those Forcibly Held and Harmed in Behavioral Facilities
Similar on TelAve
- HandicapMD Brings Industry-Leading Online Handicap Parking Permit Services to Pennsylvania
- ICTFAX SP Version 6.0 Released, The Best Open Source Fax Server Software
- Evergreen Property Partners Announces DJ Van Keuren's Recognition as One of the World's Top 50 Family Capital Advisors
- TurnMississippiBlue.org Pledges A New Way Forward
- ALLTRA SmartChain (OZZ METALS LTD) Secures Full Funding
- Boston Industrial Solutions, Inc. Glass Primer delivers unmatched UV ink durability for glass, tiles, and ceramics
- Bent Danholm's Innovative Targeted Marketing Approach Sells Homes Faster and More Profitable
- Pine Networks to Showcase Innovative Open Broadband Solutions at Network X 2024
- Frank Metayer Appointed as Commissioner to the City of Chula Vista's Board of Appeals and Advisors
- Diana Partners With OpsVeda To Leverage AI-ML To Get Closer To Its Consumers
VerifyNow Launches Groundbreaking FICA Compliance Platform for South African Businesses
TelAve News/10840801
VerifyNow launches a comprehensive RegTech platform offering South African businesses instant KYC verification, identity verification, and a free RMCP generator.
JOHANNESBURG - TelAve -- VerifyNow Launches Groundbreaking FICA Compliance Platform for South African Businesses
VerifyNow.co.za, a proudly South African company, today announced the launch of its innovative all-in-one dashboard platform that offers FICA compliance tools and instant Know Your Customer (KYC) verification at the click of a button. Designed to cater to businesses of all sizes, the platform aims to simplify compliance processes and protect companies against the rising tide of identity fraud and non-compliance penalties.
According to recent studies, South Africa faces a significant challenge with identity fraud, costing businesses millions of rand each year. Non-compliance with the Financial Intelligence Centre Act (FICA) not only exposes companies to hefty fines but also tarnishes their reputations. VerifyNow addresses these critical issues by providing an easy-to-use platform that streamlines compliance and verification processes.
"Our mission is to empower South African businesses to navigate the complexities of FICA compliance effortlessly," said Ru Foster, CEO of VerifyNow. "We understand the risks that identity fraud and non-compliance pose to companies. Our platform offers a simple, efficient solution that can be tailored to the needs of any business, whether small or large."
More on TelAve News
The VerifyNow platform features:
Real-World Impact
A recent study by the South African Banking Risk Information Centre (SABRIC) highlights the critical need for robust FICA compliance solutions. In 2024, identity fraud cases in South Africa increased by 22% compared to the previous year, resulting in estimated losses of R4.2 billion to businesses and individuals.
More on TelAve News
A pilot program conducted with a mid-sized company in Johannesburg demonstrated the effectiveness of VerifyNow's platform. An industry expert commented, "VerifyNow's platform has transformed our compliance processes. We've significantly reduced our risk exposure while freeing up resources to focus on core business activities. It's been a game-changer for us."
Why FICA Compliance Matters
Non-compliance with FICA regulations can result in fines up to R100 million or imprisonment for up to 15 years. With financial crimes on the rise, regulators are enforcing stricter measures to ensure businesses are not inadvertently facilitating illegal activities. VerifyNow's platform assists companies in meeting these obligations efficiently, reducing risk and ensuring peace of mind.
Join the Compliance Revolution
Businesses interested in safeguarding themselves against fraud and non-compliance penalties are encouraged to visit www.verifynow.co.za to learn more about the platform's features and subscription plans.
About VerifyNow
VerifyNow is a Johannesburg-based technology company committed to providing innovative online solutions for FICA compliance and KYC verification. VerifyNow strictly adheres to compliance standards and is fully compliant with the Protection of Personal Information Act (POPIA) and SOC 2® requirements. This ensures that all data handled by the platform is managed securely and ethically, providing peace of mind to businesses and their customers.
Verify Now combines local expertise with advanced technology to serve the needs of businesses across South Africa.
VerifyNow.co.za, a proudly South African company, today announced the launch of its innovative all-in-one dashboard platform that offers FICA compliance tools and instant Know Your Customer (KYC) verification at the click of a button. Designed to cater to businesses of all sizes, the platform aims to simplify compliance processes and protect companies against the rising tide of identity fraud and non-compliance penalties.
According to recent studies, South Africa faces a significant challenge with identity fraud, costing businesses millions of rand each year. Non-compliance with the Financial Intelligence Centre Act (FICA) not only exposes companies to hefty fines but also tarnishes their reputations. VerifyNow addresses these critical issues by providing an easy-to-use platform that streamlines compliance and verification processes.
"Our mission is to empower South African businesses to navigate the complexities of FICA compliance effortlessly," said Ru Foster, CEO of VerifyNow. "We understand the risks that identity fraud and non-compliance pose to companies. Our platform offers a simple, efficient solution that can be tailored to the needs of any business, whether small or large."
More on TelAve News
- NBA Champion Derek Anderson and Jamie Anderson Celebrate Anniversary and Community Impact
- Dallas Cowboys Sign the State of Nayarit as their Official Mexican Tourism Destination
- Emory Healthcare Systemwide Allied Health Hiring Event at the High Museum of Art
- TurnMississippiBlue.org Pledges A New Way Forward
- HandicapMD Expands Leading Telemedicine Services for Disabled Parking Permits in Florida
The VerifyNow platform features:
- Identity Verification: Quickly confirm customer identities with ID and photo directly from the Department of Home Affairs to prevent fraud.
- Easy KYC - Automated Customer onboarding and KYC verification.
- KYC/AML/PEP Adverse Reports Compliance: Ensure adherence to Know Your Customer (KYC), Anti-Money Laundering (AML), and Politically Exposed Persons (PEP) regulations.
- Credit Risk Scores - Obtain swift credit scores with risk levels.
- Driver's License Checks - Instant Driver's License verification
- Customer Tracing: Detailed contact tracing including employment, addresses and phone numbers. Identify all ID numbers linked to a phone number for thorough FICA checks.
- Free Risk Management and Compliance Programme (RMCP) Generator: Create customized RMCPs to meet FICA requirements without additional costs.
- FICA Compliance Toolkit: Access a collection of free training resources and tools designed to simplify FICA compliance.
- User-Friendly Dashboard: Manage all compliance activities from a single, intuitive interface.
- Scalable Plans: Flexible subscription models suitable for startups to large enterprises.
- Secure Data Handling: Advanced encryption and security protocols to protect sensitive information.
Real-World Impact
A recent study by the South African Banking Risk Information Centre (SABRIC) highlights the critical need for robust FICA compliance solutions. In 2024, identity fraud cases in South Africa increased by 22% compared to the previous year, resulting in estimated losses of R4.2 billion to businesses and individuals.
More on TelAve News
- Democracy at Work & The Left Forum Presents Seminar with Professor Richard D. Wolff based on "Understanding Capitalism"
- Decorate for Fall with Braided Rugs
- HandicapMD.com Expands Its Leading Telemedicine Service for Disabled Parking Placards in California
- ALLTRA SmartChain (OZZ METALS LTD) Secures Full Funding
- Boston Industrial Solutions, Inc. Glass Primer delivers unmatched UV ink durability for glass, tiles, and ceramics
A pilot program conducted with a mid-sized company in Johannesburg demonstrated the effectiveness of VerifyNow's platform. An industry expert commented, "VerifyNow's platform has transformed our compliance processes. We've significantly reduced our risk exposure while freeing up resources to focus on core business activities. It's been a game-changer for us."
Why FICA Compliance Matters
Non-compliance with FICA regulations can result in fines up to R100 million or imprisonment for up to 15 years. With financial crimes on the rise, regulators are enforcing stricter measures to ensure businesses are not inadvertently facilitating illegal activities. VerifyNow's platform assists companies in meeting these obligations efficiently, reducing risk and ensuring peace of mind.
Join the Compliance Revolution
Businesses interested in safeguarding themselves against fraud and non-compliance penalties are encouraged to visit www.verifynow.co.za to learn more about the platform's features and subscription plans.
About VerifyNow
VerifyNow is a Johannesburg-based technology company committed to providing innovative online solutions for FICA compliance and KYC verification. VerifyNow strictly adheres to compliance standards and is fully compliant with the Protection of Personal Information Act (POPIA) and SOC 2® requirements. This ensures that all data handled by the platform is managed securely and ethically, providing peace of mind to businesses and their customers.
Verify Now combines local expertise with advanced technology to serve the needs of businesses across South Africa.
Source: Verify Now
Filed Under: Software, Information Technology
0 Comments
Latest on TelAve News
- Webinar Announcement: Creative Methods for Tracing Assets
- NEMTAC Announces New Board of Directors Officers for 2024-2025
- Dehy Mills Welcomes Two New Board Members to Support Future Growth
- Stars of Netflix's 'Skywalkers:A Love Story' Scale World's Tallest Bridge Inspired by $DOGS Community
- CCHR: "Family Estrangement" Used to Detain and Abuse Children in Psych Hospitals
- GoGo Roofing Introduces Expanded Services: Now Offering Roofing Solutions in New Georgia Communities
- Atlas Elite Entertainment Releases New Single "Forever"
- "Monotheism and Devils" is the theologically dedicated sequel of "Prince of Eurasia" of the Islamic cleric and executive producer Prince Oak Oakleyski
- Vantiva Wins CSI Award for "Best Sustainability Project or Initiative" for Eco-Friendly V7c Android TV Set Top Box
- Inframark Announces New Chief Financial Officer
- Cellhire Wins Connectivity Gold at the Paris 2024 Games
- VVC Ready for Deployment: An Exclusive Conversation with Lukasz Litwic at IBC 2024
- Hayloft Big Creek Now Pre-Leasing
- Green Office Partner Ranked #1 on Crain's 2024 List of Best Places to Work in Chicago
- Diversified Industrial Acquisition Agreement, Plus Major Contract Award for Large Fleet Trucking Provider: MingZhu Logistics: Stock Symbol: YGMZ
- Messageware Z-Day Guard v1.5 Expands MDR Security to Azure, Exchange, and Windows Servers
- The Ripple Effect Arts, has launched its latest product, Organic Wild Yam Cream, capitalizing on the company's recent viral success on TikTok
- Prince of Eurasia: Monotheism and Devils — the ultrarare Eurasian theological documentary of executive producer Prince Oak Oakleyski
- Vimaan Named in the Gartner® Hype Cycle™ Reports, 2024 for Autonomous Data Collection and Inspection
- Vantiva Unveils ONYX, its latest Smart Media Device with Advanced AI Capabilities at IBC 2024