ZipID Agency service makes identity verification easy

Have you ever wished that someone else could go and meet your client face-to-face to verify their ID for you? Now there’s a solution that’s becoming increasingly popular – the ZipID Agency service from Equifax.

The ZipID Agency ‘come to you’ service will send an authorised representative to meet with your client at a time and place that’s convenient to them. They’ll check and collect true copies of their original identity documents which are returned to you and the lender in a single PDF Report.

What about your compliance obligations?

Meeting your customer face-to-face mitigates the risk of identify fraud. The requirement to meet face-to-face with customers is linked to the Anti-Money Laundering (AML) and Counter-Terrorism (CT) legislation and Verification of Identity (VOI) regulation.

The concept of Know Your Customer (KYC) is based on you conducting reasonable due diligence to ensure that you know who you are doing business with.

Because not all lenders currently allow you to use the ZipID Agency service to meet your Know Your Customer and Verification of Identity requirements, we recommend that you check that Lender’s Policy in Mercury and contact the BDM for that Lender. And remember, if you do use this service, you will still be required to file a copy of the record under the Opportunity in Mercury.

Which lenders are supporting the ZipID Agency service?

The ZipID Agency service is becoming increasingly popular with brokers and lenders alike. Lenders on our panel who are currently supporting it include:

• ING
• Macquarie Bank
• Pepper Money
• AMP
• Teachers
• Bluestone
• Newcastle Permanent

To find out how you can start using the ZipID Agency service in your business, contact your Lender BDM then email [email protected]