Identity Verification Module (IDV)

FeeSynergy has partnered with Equifax to deliver a world class Identity Verification solution that enables Australian accounting firms to comply with strict Tax Practitioner Board (TPB) and Australian Taxation Office (ATO) obligations.

This solution is fully integrated within the FeeSynergy Collect platform delivering a seamless User and Client Experience.

What’s included in FeeSynergy’s Identity Verification solution?

• Biometric facial matching: mobile phone camera used to capture the best possible photos that allow users to complete the IDV process on their first attempt. Determines whether the person pictured in the “selfie” matches the person in the photo ID document and liveness testing validates that the user is alive and physically present for the facial matching, avoiding spoofing, deep fakes or presentation attacks.

• Optical Character Recognition (OCR): extracts relevant details from driver’s licence or passport
documents which eliminates keystroke errors and improves data accuracy.

• Document fraud analysis: determines whether the driver’s licence or passport document is legitimate and has not been tampered with or is a forgery. Verification is performed against data sources such as the Australian Govt Document Verification Service (DVS) which matches key document data with government records.

• PEP & Sanctions Screening: searches worldwide PEP, Sanction and Enhanced Due Diligence lists to establish if any matched records (AML/CTF related)

• Full audit trail and reporting: records when the IDV was performed and for which entities (TPB requires that records must be held for 5 years)

Your investment

Transaction fees:
• SMS to client (1), (2), (3)      – $3.25*
• SMS Reminder one             – $0.00
• SMS Reminder two             – $0.00
• Completed Verification (3) –  $6.25*
• Total Cost (3)                         – $9.50*
• Manual SMS reminder (3)   – $0.25*

Ongoing support: Email and telephone support in standard business hours (9:00am – 5:00pm AEST) are included in the subscription price.

Post Implementation Consulting: (additional training if required) $200 per hour

*Notes:
• all prices quoted are exclusive of GST. Prices quoted are only valid for 30 days from the date of this proposal
• 1. For each new unique SMS link issued
• 2. If the initial link has expired following 10 days, a new unique SMS link will need to be issued to the client incurring an additional charge as outlined in 1.
• 3. The monthly total of transaction fees will be deducted from your bank account via a direct debit on the 15th day of the following month (or next business day, if the 15th falls on a weekend)

Please do not hesitate to contact FeeSynergy on 03 9822 1300 if you have any questions.