The Snaprove Signup app allows to perform a remote KYC data collection for Binfinity AG that is subscribed to the services of SnapSwap International S.A., company based in Luxembourg.
Binfinity AG can offer an end-user an option to complete a KYC data collection process with the Snaprove Signup mobile app.
The data collection process in Snaprove Signup only begins when properly initialized: an end-user is supposed to scan a QR code generated for him via Binfinity AG.
In Snaprove Signup mobile app an end-user will follow different steps including:
1. scan a valid ID document
2. perform identity verification: face match is performed between a photo of an end-user taken by the app in real-time and a photo found on ID document
3. provide current residential address
4. upload or scan with camera a proof of residence
5. answer additional questions relevant to the data collection process
6. review collected information
7. submit collected information to the target institution
If all necessary data entries are successfully collected and processed then Binfinity AG receives a data delivery via a server-to-server data transfer.