Knowing the people with whom you do financial dealings is vitally important. Although, in a day-to-day basis, it may go unnoticed, the KYC process is a powerful and essential tool that every Broker should have.
In addition, as a Forex portfolio manager, you must carry out a KYC process and even more so, if you are an IB, planning to start your broker because it is one of the elements you must include in your CRM.
However, to understand and implement a solid KYC in your broker, we have the information and the solution, whether you are experienced or just starting. At CRMreal.online, we give you reliable data and the alternative that will make managing your client portfolio very easy, with the possibility of adapting it to your needs quickly and intuitively.
Simply, it is the practice of knowing a user before he is your client, verifying the identity that he provided when opening an account, for example, in your CRM, with strict compliance with the laws and regulations that exist in the matter.
The acronym for this process stands for “Know Your Customer.” This system supports everything that has to do with identifying users in sensitive areas of money management. As you will understand, this is critical, and even more so with the opacity we sometimes encounter in today’s times.
The widespread use of information technologies applied to financial transactions, has led to the use of user verification systems. Imagine not knowing who you are dealing with, who you trust with your effort or where your finances come from.
Electronic fraud and money laundering exist. With the KYC, an expedited system, you will be able to comply with the laws that oblige you as a Broker to obtain your clients’ information and then collate and review it.
Proactivity is an approach that this system has. In principle, the user must provide some personal data to have a business relationship with you and thus begin to operate smoothly.
They are documents that will help you verify and certify your identity, as well as your finances and their origin. KYC is a secure process, and what is usually required for Forex is the following:
- Passport or ID (identification card) to verify the full name, date of birth, and place.
- Proof of recent utility payment to validate the address where you are located.
- Phone number.
Since your future clients must follow a series of steps and rigorously complete certain guarantees, you must provide them with the best and easiest space to do so. No one wants to start a business relationship with a broker that has a slow, unfriendly and confusing system.
If you are a money manager or IB and want to set up a broker on your own that has a fast, friendly, and easy to understand system, we recommend White Label solution from Smart Broker; with this option, you will more than meet all these parameters.
Going back to the KYC configuration of your broker, the idea is not to scare your clients from the very first moment and lose opportunities. At CRMreal.online, we offer you a complete CRM solution for your Broker, with the best KYC protocol, thoroughly tested procedure to save you clicks, levels, and time.
As we said, the benefits you get in your trading room may go unnoticed; however, the mere fact of fighting fraud that directly affects you, and the market, in general, is the most powerful and logical of all benefits. Even so, you would also have other advantages:
- The fully online and real-time KYC procedure allows you to obtain customer data immediately.
- You will have an expeditious evaluation of the client and an agile risk analysis, which generates a reliable and responsible balance of threats.
- You will minimize the use of your broker as a space for money laundering and identity theft, providing security and reliability to your client portfolio. In addition, it takes a load off your shoulders and gives you more confidence in the Forex market.
As you can see, there are many benefits that you will receive by opting for a CRM platform with effective KYC. In the same way, the CRMreal.online platform has the option of verifying the user’s email as a requirement to continue the registration.
Likewise, we can locate the code of the telephone number of the company or person that registers to compare the physical address given to said number.
As a future Broker, you must focus on doing your job quickly and effectively; for this, you must have a dynamic tool for your clients to operate in Forex with agility.
KYC is one of your best allies to comply with current legislation and protect you from fraud; it is also a fundamental feature of this extensive digital network. For this reason, and because we know that you need a reliable Broker, we recommend that you do not skimp on having a good CRM platform that will be one of the pillars for your business to succeed.
Our CRM broker-dealer at CRMreal.online gives you the tools to quickly and reliably verify the identification of your potential customers as it offers you within the administrative area of your CRM an integrated KYC that performs this task.
From this space, you can approve or reject the opening of new accounts with a single click; you can also manage the entire KYC mechanism, which is customizable and adaptable to your needs.
Always be aware of the details and fluctuations of your broker and connect with serious clients who want to make real investments.