Top KYC Identity Verification Solutions Reviewed: GBG, Regula, Comply Cube

Identity checks are important for several reasons. It helps protect against identity theft, money laundering, and fraud. Additionally, it enables companies to comply with KYC and AML regulations. KYC identity verification tools provide a secure and reliable way to verify identities using facial recognition, biometric matching, AI-powered document verification, and artificial intelligence. Multiple factors are essential to success when selecting a KYC solution. Here are some important features:

Get ready to explore the key players in KYC identity verification in this blog post: GBG, Regula, and Comply Cube. KYC AML Guide has partnered with industry leaders to analyze their solutions. Learn about the features and capabilities of each platform to help you choose the right platform for your identity verification needs.

GBG

GBG’s identity verification solutions prevent fraud for organizations before a business or service is authorized. It is a UK-based identity verification platform that offers document verification, identity checks, and data coverage for various countries. It offers several types of fraud prevention to help customers eliminate fraud during onboarding. GBG operates across a wide range of industries with more than 20,000 companies in its portfolio and processes more than 210 million transactions worldwide. In addition, there is the GBG Identity Score, which reviews scores to improve accuracy, precision, and customer onboarding.

GBG offers verification for many countries worldwide.

Key Features

• GBG uses identity verification and biometric authentication systems to identify users in real time for a secure onboarding process.
• In addition to identity verification, the software conducts various screening tests. This includes international PEP and sanction checks, which help assess and manage risks for each onboarding.
• As per our analysis, the supplier has a good reputation and is recognized by all regulatory bodies.
• It includes NFC verification, OCR, and all AML features with comprehensive support and service in over 200+ countries.
• The reports did not give any reason for the rejection.
• It is easy to use and provides a seamless experience for users with minimal friction.
• It meets major security standards but only some compliance standards.
• Document processing time is fast, taking only 15 to 20 seconds, and accurately predicts real and counterfeit documents.

Services

They offer a variety of services, including KYC, AML, and more.

Cons

• The support has a long response time.
• It meets certain major security standards and only satisfies some compliance standards.
• The results of the live mode are lower than the demo
• Prices are inflexible ranging from medium to high range.
• While the user interface is clean, access to the back office hinders the user experience.

We evaluate GBG by considering factors like document review speed.

GBG’s KYC web analysis results meet industry KYC benchmark standards admirably.

Regula

Regula provides fast biometrics and document checks to identify new customers while meeting KYC requirements. With over 13k+ document templates and localization in over 130 languages, it appeals to a wide variety of audiences. It is trusted by more than 1,000 agencies and 80 border controls around the world, Regula offers superior customer service without compromising security or speed.

Biometric Update reported that Regula’s recently updated Face SDK now detects advanced biometric fraud and has a 99% success rate in preventing identity attacks while improving the verification process.

Regula stands out for verifying documents across many countries and languages.

Key Features

• Regula Document Reader SDK is a cloud-based document verification tool that helps companies of all types – government agencies, financial institutions, travel companies –
• It detects fraud through real-time identification.
• This SDK is integrated, which eases the mobile app development process.
• It gives precise results and is a part of a comprehensive product lineup.
• Customers get personal service with quick and detailed answers.
• The implementation is straightforward and error-free.
• It has fast verification and reading capabilities with flexible and advanced biometrics.
• The user flow is smooth on the desktop.
• Compliance with industry standards like ICAO 9303, ISO 18013, and BSI TR-03105.
• Document Processing time is lightning-fast, taking only 1-2 seconds.

Services

Their services cover KYC and other options.

Cons

• Customization options for UI elements are limited in some cases.
• More white-labeling options for the Document Web SDK are anticipated.
• Certain devices may lack the necessary performance for optimal SDK functionality.
• Scanning capacity is average for non-MRZ documents.
• Pricing could be made more scalable or include better startup pricing options.
• A high acceptance rate for counterfeit documents.
• It has the scope to improve the scanning speed.

Our evaluation of Regula involves assessing mobile and desktop traffic and the speed at which documents are reviewed.

Comply Cube

ComplyCube was ranked number one for identity verification software by Tech Times in 2023. ComplyCube’s AI platform quickly verifies customers’ identities using selfies, trusted data sources, and ID documents, enabling efficient global KYC verification. Customers’ real identities can be verified in less than 30 seconds, ensuring security. It offers various verifications including AML screening, ID document verification, biometric verification, address verification, electronic identity verification (eIDV), and more. ComplyCube attains ACCS age verification, demonstrating its commitment to protecting minors online during global regulatory scrutiny.

Comply Cube’s verification metrics are strong for different documents, countries, and languages.

Key Features

• The global IDV platform serves a variety of businesses and offers comprehensive KYC and AML solutions.
• The ISO-certified platform offers a variety of integration options, including low-cost, no-code solutions, APIs, mobile and web SDKs, client libraries, and CRM integration.
• The platform is easy to use and has many features like AML screening, biometric verification, and device intelligence.
• It offers comprehensive audit logs, access controls, security measures, and robust reporting features.
• The integration process is efficient, saves time and costs, and improves efficiency.
• It has the necessary tools for KYC, AML, and identity verification in one place.
• The user interface allows users to interact with the process in a friendly and seamless manner.
• Their customer support team ensures a secure and compliant environment.

Services

They provide a diverse range of offerings, like KYC, AML, and more.

Cons

• It offers major integration, but documentation and integration support could be improved.
• It meets compliance and verification requirements but does not meet certain security standards.
• It does not integrate with external information management tools.
• It could enhance features such as custom journey maps and provide additional personal details as well as more control over customers’ outreach.
• Limited customization options for reports through the dashboard may restrict tailoring reports to specific needs.
• One area of improvement is adding KPIs and charts to the welcome dashboard, as this can save time for regular users.

Also Read: Choosing the Ideal KYC Vendor: Finding the Right Partner for Your Compliance Requirements

Exploring GBG, Regula & Comply Cube- A Comprehensive Comparative Analysis

Visit our KYC AML guide for an overview of the best KYC providers. Research is important to help companies choose the most appropriate solutions. This comprehensive guide provides a clear understanding of the strengths and differences of the best KYC providers.

Discover Solutions: Your Guide to Identity Verification with The KYC AML Guide

As technology evolves, organizations increasingly use digital solutions to meet customer and business needs. Identity verification is now essential for business. A good verification process not only attracts users but also benefits the organization in the long run. As regulations change and cyber risks increase, using KYC solutions is more important than ever for businesses. This helps them comply with regulations, prevent fraud, and maintain customer trust. Learn the best KYC tool for identity verification with the KYC AML Guide. Our Vendor Analysis service assesses suppliers, guiding you in selecting the best KYC solutions based on essential factors.