Your seamless KYC solution for Malaysia
Comply with Malaysian eKYC regulations while creating convenience for your business and customers.
Try it nowStay Compliant.
Maximise Conversions.
KYC has never been easier. Get your KYC processes fully automated with just a few lines of code, and empower your business to grow faster.
eKYC Process in Malaysia
The Bank Negara Malaysia (BNM) has issued regulations on electronic Know Your Customer (eKYC) procedures, which allow financial institutions to verify the identity of customers digitally, without requiring physical documents. The eKYC policy document outlines the principles and requirements that financial institutions must adhere to when implementing eKYC processes.
Some of the key requirements include ensuring that the eKYC process is secure, reliable, and accurate, and that it meets the legal and regulatory requirements for customer due diligence. Financial institutions must also have proper risk management controls and ensure the privacy and confidentiality of customer information.
The BNM’s main metric to control when using an e-KYC solution is the False Acceptance Rate (FAR), which must be below 5%. The BNM classifies the type of e-KYC checks under 3 categories of Identity Documents:
- MyKAD
- Passport
- Other official Identity Documents
With more than 80 Malaysian ID documents supported, and more than 12,000 ID documents globally, TRUSTDOCK has both your compliance team and your customers covered, by leveraging on automation and an incredibly seamless user experience, to ensure you can stay fully compliant while onboarding your customers from anywhere in the world, at any point of time.
TRUSTDOCK also leverages on the same technology as Singapore GovTech for face verification. With a FAR of 0.5% only, your compliance teams can rest assured they will comply with BNM regulatory requirements, while also leveraging on technology to automate their KYC processes.
Benefits
Be Compliant
Offer a peace of mind for your KYC teams with a fully compliant Identity Verification solution in Malaysia
Create Convenience
Empower your teams with a fully automated KYC solution that simplifies ID verification processes for your customers
Grow your business
Convert more customers with a seamless user experience, and enable your business to grow faster
How it works
With just a few lines of code, you can embed TRUSTDOCK's Identity Verification solutions on iOS, Android and Desktop, and allow your customers to verify their identity as per the Malaysian regulations.
TRUST ID
ID scan & Face comparison solution, to deliver a frictionless user experience for your customers:
- 80 Malaysian ID documents (including MyKad) supported & 12,000 globally
- Less than 30 seconds to complete the Identity Verification
- Automated detection of the ID document
- Form auto-fill with high OCR accuracy
- Passive liveness check and face matching
- FAR: 0.5%
Empower your compliance teams:
- Majority of submissions can be instantly approved
- Incorrect submissions instantly detected and rejected
- Only focus on suspicious customers
TRUST PASSPORT
e-Passport & Face comparison solution, to deliver a frictionless user experience and impress your customers with an advanced NFC technology.
- Less than 30 seconds to complete the Identity Verification
- Automated reading of the passport chip
- Form auto-fill: 100% accuracy on the passport information
- Passive liveness check and face matching
- FAR: 0.5%
Empower your compliance teams:
- Complete fraud-proof solution
- identity information returned with 100% accuracy
- Only focus on suspicious customers
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