Learn how FaceVerify supports your compliance with South Africa’s Financial Intelligence Centre Act (FICA) through secure, data-driven identity verification.
The Financial Intelligence Centre Act (FICA) requires accountable institutions, including financial service providers, to identify and verify the identities of their customers to prevent money laundering, terrorist financing, and financial crime.
FaceVerify provides secure, automated identity verification tools that help organizations meet FICA’s Know Your Customer (KYC) obligations. Our platform captures and validates personal and biometric information to confirm customer identities accurately and efficiently.
Through our verification technology, FaceVerify enables businesses to conduct enhanced Customer Due Diligence (CDD) by collecting and validating identity documents, facial recognition data, and proof of residence, in compliance with Section 21 of FICA.
All verification data is validated in real-time to ensure accuracy and authenticity. Our AI-driven verification checks reduce human error and strengthen the reliability of FICA compliance processes.
In accordance with FICA Section 22, FaceVerify ensures that customer verification records are securely stored and accessible to clients for the legally required retention period. These records are encrypted and stored within South Africa, aligning with POPIA requirements.
All data processed through FaceVerify is treated as strictly confidential. We apply strong encryption, access control, and secure AWS hosting in South Africa to ensure full compliance with both FICA and POPIA standards for data protection.
FaceVerify partners with banks, fintechs, insurers, and government-regulated entities to help them automate FICA compliance through seamless API integrations and reliable verification services.
We regularly update our verification standards and technology to align with changes in FICA regulations, ensuring our clients remain compliant and protected against financial crimes.