AI-powered KYC for the UK
Financial services have to comply with KYC requirements overseen by the UK Financial Conduct Authority (FCA). At Onfido we help over 1000 businesses navigate KYC and AML requirements, build best-in-class onboarding experiences, and stop sophisticated fraud — all in one, end-to-end platform.
How Can Entrust Help Your Business?
Navigate FCA requirements
Meet due diligence KYC requirements with document, biometric, and data validation solutions.
Convert more applicants
Build delightful onboarding experiences that maximise conversion.
Automate onboarding processes
Reduce the cost of identity verification workflows with an end-to-end platform.
How Can UK Businesses Verify Identity?
The UK Financial Conduct Authority (FCA) is well known for its forward-thinking approach to innovation, with the UK ranking as the second strongest ecosystem in the world according to FATF. It favours a risk-based approach, focussing on outputs rather than prescriptive AML rules stating: “firms must have in place policies and procedures in relation to customer due diligence… but neither the law nor rules prescribe in detail how firms have to do this.”
Similarly the Joint Money Laundering Steering Group (JMLSG) does not prescribe a particular eKYC technology. Instead it sets out the overarching requirement that, “when using an electronic source or digital identity to verify a customer’s identity, firms should ensure that they are able to demonstrate that they have both verified that the customer exists, and satisfied themselves that the individual seeking the business relationship is, in fact, that customer.” How this requirement is satisfied is left to a business' discretion. Many opt for document and biometric journeys, in order to reduce costs, combat fraud, and optimise user experience.
Is Entrust Trust Framework Certified?
Entrust participates in the UK’s Digital Identity and Attributes Trust Framework as an Identity Service Provider providing identity verification services in accordance with the government’s GPG 45 guidelines.
We enable some of the UK’s leading businesses to automate identity verification with certification to both medium confidence (M1A profile) and high confidence (H1A and H2B profiles) levels for Right to Work, Right to Rent, and Disclosure and Barring Service’s (DBS) screening checks.
The trust framework is part of the UK government’s wider plan to make it easier and more secure for people to prove their identity online. It provides a set of rules for organizations to adhere to in order to provide secure and trustworthy digital identity.
Onfido (now part of Entrust) has really aligned with our priorities, working with us to achieve our desired delivery by rapidly responding and iterating on their offering. Direct contact between our engineering teams has fostered a mutually beneficial partnership—identifying problems early, collaborating on solutions and improving the overall integration.
The experience that I've had with Onfido (now part of Entrust) working with them quite closely throughout the whole project, has been really positive.
We're building a digital first, customer-first banking service, going above and beyond the 'benchmark' set by branches. A key part of that is making a sign-up experience that is compliant and frictionless. Onfido (now part of Entrust) helps us do that.
What Are KYC Regulations in the UK?
For financial services the UK recognises the Financial Action Task Force (FATF) as the "international standard setter" for AML and KYC requirements. There are various UK laws that govern AML and KYC requirements, primarily:
The Terrorism Act 2000
Mandated that financial services must take steps to prevent terrorist financing, including customer due diligence (CDD), transaction monitoring, and reporting obligations. It has been amended numerous times, including the Terrorism Act 2006, the Terrorism Act 2000, and the Proceeds of Crime Act 2002 (Amendment) Regulations 2007.
The Proceeds of Crime Act (POCA) 2002
This is the UK’s primary AML regulation. Under POCA, banks and financial institutions must take the necessary steps to detect money laundering activities. These steps include customer due diligence (CDD), transaction monitoring and suspicious activity reporting.
The Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs 2017)
Another key piece of AML legislation in the UK and transposes the obligations set out in the EU’s 4AMLD, and subsequently, 5AMLD via The Money Laundering and Terrorist Financing (Amendment) Regulations 2019. It also introduced the requirement that firms implement a written AML and CFT risk assessment.
The 2017 MLRs were then amended in 2022 to focus on helping businesses operating in the UK comply with international AML standards on virtual assets, and examine the requirement to perform risk assessments on proliferation financing.
The UK government also issued a forward-looking review of AML in June 2022, concluding that the current regime is broadly fit for purpose and required no wholesale changes for the time being.
Identity Verification Solutions for the UK
Document and Biometric Verification
Have confidence in your customer’s identity by verifying 2500+ UK and global photo IDs. Powered by award-winning AI, our Entrust document verification uses advanced techniques to assess documents for authenticity.
Entrust is Built Around Privacy and Security
SOC 2 Type II compliance
Strong safeguarding protocols keep customer data safe.
Certified to ISO 27001
Under certificate number IS 660122.
ICO Regulatory Sandbox partner
We defined our approach to algorithmic bias and data processing with the ICO.
GDPR compliance
Hundreds of businesses stay GDPR compliant when using our solutions.
Keep Up to Date with Identity News and Insights
How is UK Cryptocurrency Regulation Changing?
Learn how crypto KYC regulation is evolving in comparison to other financial services.
Compliance Manager's Guide to Identity
Our guide summarises the KYC / AML regulatory landscape, the best practices for building idenity workflows.
Ready to get started?
Our identity experts are available to talk through your requirements, answer questions, and set up a demo.