ComplyCube

Score10 out of 10

12 Reviews and Ratings

What is ComplyCube?

ComplyCube is an identity verification platform that automates Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance for businesses. It offers features that enable businesses to verify customer identities through ID documents, biometrics, and government databases.

The SaaS solution combines trusted data sources and expert human reviewers to enable businesses to achieve global AML/CTF compliance, convert more customers, and prevent fraud.

With ComplyCube's outreach capability, businesses can combine checks on a particular client during one KYC session. The platform systematically works out the data that needs to be collected and sends a unique secure link that prompts the client to complete a KYC session. Available checks include AML Screening, PEP Checks, Address Verification, Identity Document Proofing, and identity verification.

Key features described by the vendor include:

One-stop solution for AML and KYC compliance requirements.
98% Client onboarding rate.
Global coverage of 220+ countries and over 3000+ data points from trusted sources.
Customizable, brandable, and supports multiple languages.
ISO-certified platform with an omnichannel integration with Low/No-Code solutions, API, Mobile SDKs, Client Libraries, and CRM Integrations.
A comprehensive suite of checks, including PEP & Sanctions Screening, Adverse Media Checks, Document Proofing, Biometric Verification, Electronic Identity Verification, Business Verification (KYB), Driver Verification, Age Estimation, Age Verification and Address Verification

Categories & Use Cases

Media

Screenshot of ComplyCube - Document Verification

Screenshot of ComplyCube - Biometric Verification and Liveness Detection

Screenshot of ComplyCube - Sanctions and PEP Screening

Screenshot of ComplyCube - Address Verification

Screenshot of ComplyCube - Adverse Media Checks

Screenshot of ComplyCube - Multi-Bureau checks

Screenshot of ComplyCube - Watchlist Screening

Screenshot of ComplyCube - Driver Verification

Screenshot of ComplyCube - Driver Entitlement

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Screenshot of ComplyCube - Document Verification

Máté Kovács View profile

Senior KYC analyst in Legal at BOTS (11-50 employees employees)

Use Cases and Deployment Scope

Our company delivers trading algorithms for forex, stocks, and crypto through a user-friendly app. The main challenge we encountered was onboarding traders efficiently while complying with strict regulatory standards. Achieving a balance between a user-friendly interface and adherence to compliance regulations was pivotal in staying competitive. Implementing ComplyCube's IDV and AML solutions marked a turning point in enhancing our onboarding process. These solutions introduced continuous monitoring and biometric verification, greatly improving security and fostering trust among our users. Additionally, the insights and strategies provided by ComplyCube have been pivotal in our business expansion, effectively streamlining operations to seamlessly blend user experience with rigorous compliance obligations.

Pros

Swift and frictionless onboarding process
User-friendly platform for conducting AML investigations
Precise real-time ongoing monitoring
Excellent customer support

Cons

All going well so far.

Return on Investment

Swift and frictionless customer onboarding
Enabled global growth and compliance
Reduced fraud with rigorous AML monitoring
Stellar customer support

Carolina Fresard View profile

Managing Director - Financial Crime and Compliance in Professional Services at Accenture (10,001+ employees employees)

Use Cases and Deployment Scope

We provides assistance to businesses operating within regulated environments, such as financial services and insurance, to ensure adherence to relevant regulations. Our platform conducts all necessary checks on end-customers to support compliance. In light of this, we established a partnership with ComplyCube to power a number of our services. Having searched extensively for a suitable partner, I can confidently attest to the fact that the ComplyCube team demonstrated a greater degree of compliance awareness than their peers. We were impressed by their extensive cross-industry knowledge and the flexibility of their solution. ComplyCube provided us with the essential building blocks to create a customized solution, enabling us to shape our product to our precise requirements.

Pros

Vast global coverage
Granular and structured PEP and watchlist data
Customizable verification services
Powerful API
Knowledgeable team

Cons

Reports are not customizable through the dashboard, only via the API

Most Important Features

PEP screening
Sanctions, watchlist and negative media search
Biometric verification
Electronic identity verification
Continuous monitoring

Return on Investment

It had cut our KYC-related operational costs by a chunky margin
The continuous monitoring feature saved us several man-weeks worth of work, per year, with its real-time nature and automation rules.
Their API and webhooks made it so that our internal systems are always in sync with ComplyCube, which reduces the burden on our data reconciliation team.

Alternatives Considered

Veriff, Sumsub, Onfido, Yoti Identity Verification, NorthRow and Mati

Other Software Used

DocuSign, SAP HANA Cloud, Pega Platform

Verified User

Team Lead in Product Management (11-50 employees employees)

Use Cases and Deployment Scope

We use ComplyCube as our primary identity verification and KYC platform to comply with regulatory requirements, streamline customer onboarding, and manage all of our verification needs in one place. It helps us reduce AML/CTF risk, improve efficiency, and deliver value to our customers across the banking sector. ComplyCube's platform provides us with comprehensive geographic coverage, enabling us to comply with a wide range of local and global regulations.

Pros

ComplyCube's platform offers comprehensive coverage across different geographies and helps us comply with various local and global regulations.
ComplyCube's verification engine is highly effective in quickly verifying the identities and risk profiles of our customers.
ComplyCube's web portal has lots of features and is user-friendly.
ComplyCube offers a single platform to manage all of our identity verification needs, eliminating the need for multiple solutions from different vendors and reducing complexity.

Cons

We would appreciate more customization options, which already can be done via the API, to be also provided via the user interface. Our Customer Success Manager informed us they are on this year's roadmap.

Most Important Features

Large-scale customer onboarding
Compliance with local and global regulations
All-in-one identity verification solution
Highly customized verification workflows

Return on Investment

Improved customer onboarding speed by 65% compared to our previous vendor
Higher successful verification rates reduced operational load on our support staff
Flexible tiered pricing reduced our committed expenditure

Alternatives Considered

Sumsub, iDenfy, Yoti Identity Verification, Berbix, ID.me, Ondato and Jumio

Other Software Used

HubSpot CRM

Usability

Verified User

Vice-President in Corporate (10,001+ employees employees)

Use Cases and Deployment Scope

To expand our operations across Europe and APAC, we needed to ensure compliance with regulations through the use of eKYC controls. Our eKYC needs to verify the identities of bank account holders, corporate clients, and shareholders by conducting checks against sanctions, PEP, and negative media databases and performing remote identity verification. We can confirm that the product meets these requirements.

Pros

Excellent watchlist, PEP, and negative media coverage
Fast biometric verification
Accurate identity data verification against trusted authorities

Cons

Nothing I can think of - the team has been very collaborative from the moment we struck a partnership

Most Important Features

AML screening
Biometric verification
Continuous monitoring
Investigation portal
API

Return on Investment

Eliminated the need for several manual day-to-day tasks
Increased customer satisfaction and onboarding rates
Reduced operational risk and errors by a substantial margin

Alternatives Considered

Refinitiv World-Check Risk Intelligence, Dow Jones Risk & Compliance, Onfido, Trulioo and Veriff

Other Software Used

GBG Identity Data Verification

Usability

Verified User

Director in Product Management (11-50 employees employees)

Use Cases and Deployment Scope

We use ComplyCube to make sure we're complying with the rules and regulations in the financial services industry. It helps us detect fraud, prevent terrorist financing, and ensure AML compliance. ComplyCube has simplified things for us by reducing the number of vendors we need to use, which has saved us time and money. Plus, it makes things easier for our customers too! We use ComplyCube for various checks like sanctions and PEP screening and document verification. In short, it helped us meet our compliance obligations while improving our operational efficiency.