Introduction

FrankieOne provides onboarding and fraud prevention solutions in the financial technology sector in the form of a unified, cloud-native SaaS (Software-as-a-Service) offering. FrankieOne is a fully hosted, managed, and always up to date solution that helps banks, fintech companies, and other regulated entities manage their regulatory compliance.

Why FrankieOne?

Effortless Global Onboarding

With FrankieOne, you can connect to a vast network of identity verification and fraud-monitoring providers worldwide, ensuring that you can onboard customers from any region.

Significant Cost Savings

FrankieOne optimizes customer pass rates and mitigates fraud risks. This results in substantial savings by reducing customer acquisition costs, avoiding regulatory fines, and minimizing costs associated with fraudulent activities.

Access to Cutting-Edge Technology

Stay up to date with the latest technological advancements in the global identity and fraud-prevention space. FrankieOne allows you to easily activate or deactivate new product offerings as they become available.

Unified Integration Experience

FrankieOne offers a range of integration products tailored to your developers’ expertise and use cases. It also provides a dashboard for operators and compliance officers to investigate and address user issues. With our single integration experience, you can connect once and manage new features through configuration. This ensures a seamless, efficient, and flexible integration process.

Products

KYC (Know Your Customer)

Verify the identity of your customers, ensuring they are who they say they are and that you remain in compliance with AML/CTF regulations.

Gather customer data and obtain consent using FrankieOne’s hosted solutions, SDKs, or your own application. Once this information is submitted to FrankieOne, it will undergo a thorough verification process against all authorized data sources. This process continues until enough evidence is collected to confirm a match.

All reporting entities will have their own unique requirements for customer verification as regulations vary by country and industry, so it’s important to understand the regulations that apply to your business. Always consult with a legal expert or compliance officer to ensure you’re meeting all necessary requirements.

📘

Reporting Entities

Reporting entities are entities that provide any designated services listed under section 6 of the AML/CTF Act. These entities generally provide financial, gambling, bullion or digital currency exchange services. As a reporting entity you must apply customer identification procedures to all your customers. Part B of your AML/CTF program is solely focused on these ‘know your customer’ (KYC) procedures.

On verifying a customer’s identity you must be satisfied that:

• an individual customer is who they claim to be
• a customer who is not an individual is a real entity (a business or organization that actually exists) and you know the details of its beneficial owners.

KYC and being familiar with your customers’ typical financial transactions makes you aware of any unusual or suspicious activity and reduces the risk of your business or organization being exploited for money laundering or terrorism financing purposes.

🚧

Note on AML/CTF regulations

AML/CTF regulations vary by country and industry. Always consult with a legal expert or compliance officer to ensure you're meeting all necessary requirements.

References

AML (Anti-Money Laundering) Screening and Monitoring

Verify your customer’s personal details against known watchlists (i.e. PEP, Sanctions) and Adverse Media to understand their exposure and risk. Customer’s can optionally be re-screened on a consistent basis to ensure you always have the latest updates.

As a reporting entity, you must have an Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) program specifying how you comply with AML/CTF legislation. The program must be a written document showing how you identify, mitigate and manage the risk of your products or services being used for money laundering or terrorism financing, and must be appropriate to the level of risk your business or organization may reasonably face.

📘

Reporting Entities

Reporting entities are entities that provide any designated services listed under section 6 of the AML/CTF Act. These entities generally provide financial, gambling, bullion or digital currency exchange services. As a reporting entity you must apply customer identification procedures to all your customers. Part B of your AML/CTF program is solely focused on these ‘know your customer’ (KYC) procedures.

AML/CTF programs are vital in identifying, disrupting and preventing money laundering and terrorism financing. This protects your business or organization, your community and your country from criminal activity.

🚧

Note on AML/CTF regulations

AML/CTF regulations vary by country and industry. Always consult with a legal expert or compliance officer to ensure you're meeting all necessary requirements.

IDV (Identity Verification)

FrankieOne offers a robust suite of identity verification solutions that streamline the customer onboarding process, ensure accurate identity verification, authenticate liveness, and perform facial matching — all designed to improve the customer onboarding experience and safeguard against fraudulent activities.

OCR (Optical Character Recognition)

Optimize the customer application process by automatically extracting information from government documents (such as driver’s licenses or passports) and using it for KYC verification.

ID Validation

Verify that the provided ID has been captured correctly and exhibits no signs of fraud, such as detection of manipulated images, or altered data.

Liveness

Enhance security by requiring customers to submit live streaming selfies or videos for biometric analysis. Liveness verification helps customers identify whether customers are present at the point of capture or are attempting to spoof the capture (such as with spoof artifacts or lifeless body parts or images).

Facial Comparison

Does a comparison between a biometrics capture of an individual and the image appearing on their Government ID that they provided for verification.

❗️

Not yet available in FrankieOne v2, currently in development.

Transaction Monitoring

Monitor a customer’s transfers, deposits and withdrawals to help you identify suspicious behavior which could indicate money laundering or other financial crime activities.

AML transaction monitoring is governed by regulations specific for each country (for example, AUSTRAC for Australia) and identified suspicious behaviors have to be submitted to the regulator. Failure to have an AML Program in place and detection of criminal activities may result in a fine issued by the regulator.

❗️

Not yet available in FrankieOne v2.