Robo.cash introduces compliant and user-friendly video onboarding

To fulfill the requirements for customer identification and verification, we integrate automatic identity verification into the platform.

The remote identity verification process has already become the “new normal” during the pandemic when many businesses switched to non-face-to-face relationships.  

We have collected the key points on this topic in our article.

Why does Robo.cash need an automated identity verification tool?

Robocash has reached a certain level of growth where there is a need to automate compliance-related processes while adhering to the laws and regulations. One of the reasons for the introduction of the remote identity verification process is the identity theft issue, which has become a widespread problem for online businesses worldwide. Automatic identification tools are aimed at protecting businesses from illegal activities, preventing identity fraud, and in the case of the platform, they will protect investors and their funds.

How will the new verification procedure work?

The verification procedure will go through SumSub software. SumSub is our trusted partner for remote identity verification. More information on SumSub can be found here. 
To pass the process successfully you need to present your passport, national ID card, or residence permit. You will also need to pass the advanced liveness check. The check includes a biometric analysis of a person's facial movements that is compared with the photographs on the submitted documents. This is done to make sure that the person is actually present and that their documents belong to them.

How can I be sure that my personal information is safe and protected?

Our identity verification vendor is compliant with GDPR and holds various data protection-related accreditations. Your data is collected, processed, and stored in a secured manner in compliance with GDPR. All information is available in our Privacy Policy

When will the new verification procedure take effect?

We understand that any innovations take some time, so we will implement the new verification process systematically, first for new users and then for current ones. The launch of automatic verification will begin on April 25, 2022.

What will change for old platform users?

We will gradually introduce a new verification process, starting with new investors. 

Will I need to go through any new AML procedures when withdrawing money?

Withdrawals will proceed as usual. Remember that when withdrawing an amount less than 50 euros, you need to send a request to the support team.

 

If you have any questions, feel free to contact us at support@robo.cash.


Robocash d.o.o (“Robocash”) is a company registered in the Republic of Croatia under registration No. 081224371, with legal address at Petračiceva 4, Zagreb, Croatia, 10110.

Robocash is not regulated under any financial services license. When you invest on Robocash, you buy claim rights for loan receivables and investments in loan receivables are subject to risks. We advise diversifying investments and carefully evaluating the risks.