Technology and team: TrustCloud’s comprehensive proposal for greek financial onboarding

TrustCloud undertakes intensive adaptation work both with its human team and its cutting-edge technology to understand diverse contexts, no matter how specific, and to meet their needs. In this regard, our company understands that Greek financial institutions face the challenge of streamlining customer onboarding while complying with strict AML (Anti-Money Laundering) and terrorist financing prevention rules.

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t TrustCloud, we continuously improve our protocols and offer comprehensive solutions that simplify this process, minimizing risk and enhancing the customer experience. TrustCloud offers a unique combination of advanced technology and human expertise: 

• Video identification technology, VideoID, enables remote and secure customer identification, verifying their identity in real-time and reducing fraud. 
• Expert human team trained to the highest level. We have the most skilled video agents in Greek document fraud worldwide: a team of highly qualified professionals responsible for reviewing and validating user documentation, ensuring regulatory compliance. 
• In-depth knowledge of regulations. TrustCloud stays constantly updated on the latest AML, GDPR, etc., regulations, adapting its processes to the unique requirements of the Greek market. 
• We are familiar with all types of Greek identity documents, regardless of their age. 
• The TrustCloud team receives ongoing training in fraud detection techniques and other subjects, staying up to date in the fight against fraud and money laundering. 
• Additionally, we have access to an internationally referenced document database, allowing for precise and reliable verification. 

Let’s delve deeper into each part of this structure. 

VideoID: The foolproof identity verification platform 

TrustCloud VideoID is a technology seamlessly integrating live video calls with the most precise applications of artificial intelligence (AI). This enables the identification of individuals within seconds, with the same technical and legal security as in-person authentication. 

Our solution facilitates fully encrypted and private video calls, combining multiple layers of verification. This is done intuitively and closely, thanks to real-time support from our team of Fraud Experts, also known as Trust Referees. 

The onboarding process with VideoID unfolds as follows: the customer presents their official identification document to the camera, and the system scans and verifies its authenticity. Next, facial recognition technology is used to compare the customer’s real-time image with a selfie. Additional methods such as security questions, personal information, and two-factor authentication are employed to further reduce the probability of identity theft. 

Artificial intelligence is integrated into the process through Optical Character Recognition (AICR), allowing for the detection of suspicious patterns and behaviors. This enhances fraud detection and ensures a high level of security. 

The customer receives notifications about the verification progress and can access evidence through the platform’s API. TrustCloud Vault, our secure cloud architecture, safeguards records using physical and cryptographic measures. Furthermore, a subsequent back-office audit ensures the validity, quality, and legal value of the video call and its evidence. 

TrustCloud VideoID identity verification provides a secure, highly efficient experience for Greek financial institutions and their customers. 

Human Team: our Trust Referees 

TrustCloud’s human team is the cornerstone of VideoID’s success. These Fraud Prevention Experts (FPE) are highly trained and constantly update their protocols and operations to detect and prevent any type of identity fraud. Their experience and knowledge are essential for ensuring a secure and efficient identification process, accessible to all regardless of their familiarity with technology. 

The continuous training undergone by FPEs includes: 

• Psychology and body language techniques to detect fraud signals. 
• Updated legal training in data protection and AML (Anti-Money Laundering). 
• Focus on accessibility to ensure that the process is easy to use for everyone. 

The combination of human expertise and advanced technology sets TrustCloud apart from other companies. Their ongoing training enables them to be prepared to analyze new versions of documents and adapt to the latest fraud trends. 

Document database: A valuable asset for security 

TrustCloud has an extensive document database, which is a fundamental pillar for the security of the identification process. This database includes: 

• Information on all Greek identity documents, from the 1960s to the latest versions. 
• High-quality images of documents, both in their physical and digital versions. 
• Detailed information on the security features of each document. 
• Proven experience over 100 years of history, in line with TrustCloud’s values of trust and respect and those of its partners. 

This powerful document repository is constantly updated to include new documents issued and to reflect changes in security features. This allows our Referees to stay up to date on the latest trends in document counterfeiting. 

All types of greek identity documents 

TrustCloud offers a foolproof solution to verify the authenticity and validity of all Greek identity documents, regardless of their age. With a success rate of 99%, our system exceeds expectations in terms of accuracy and reliability. 

1. Passport:

The travel document allows the holder to travel to other countries. It contains the name, photo, date of birth, an individual passport number, and nationality. Greek passports are valid for 10 years for adults and 3 years for minors. The passport data page is printed on polycarbonate, a tamper-resistant material. 

2. Residence Permit:

It is a document authorizing a foreigner to reside in Greece for a specific period. It includes personal information such as name, photo, date of birth, nationality, foreigner identification number, and permit conditions. Residence permits can be temporary or permanent. 

The type of residence permit determines the activities the holder can engage in Greece, such as working or studying. 

3. Individual Identity Document:

Certifies the identity and nationality of the holder. It contains personal information such as name, photo, date of birth, identification number, and address. Greek identity documents are mandatory for all citizens over 14 years old and must be always carried. 

4. Greek Police Identification:

Accredits the holder’s police status. It includes name, photo, rank, identification number, and police unit. Also, the holder’s signature and the police unit’s seal. Police identification is necessary for police officers to carry out their duties. 

5. Driving License:

It is an official document authorizing its holder to drive a vehicle in Greece. It reflects certain data, such as name, photo, date of birth, identification number, and the categories of vehicles the holder is authorized to drive. Greek driving licenses are valid for up to 15 years. 

TrustCloud’s verification technology is prepared at the highest level to analyze a multitude of security elements found in different documents. 

• Special Papers: Tear-resistant, with visible fibers or watermarks when held against light. 
• Invisible Ink: Reacts to ultraviolet light or certain chemicals, revealing hidden information. 
• Microprints: Tiny texts or images difficult to reproduce, with specific details for each type of document. 
• Holograms: Three-dimensional images that change when the document is moved, with official logos or shields. 
• Tactile Elements: Special reliefs or textures in certain areas of the document, such as the national emblem or the holder’s signature. 
• Laser Perforations: Specific patterns of micro-perforations that are not easily replicated. 

The combination of innovative VideoID technology, knowledge of the Greek context, and TrustCloud’s dedicated human team ensures an exceptional onboarding experience for customers while protecting financial institutions from the risk of fraud and money laundering. 

Contact us and ask for a free demo now