Electronic FICA (eFICA) is a customer identification and verification process that involves a customer’s identity and personal information to be verified through the provision of select documents. At the very least, proof of identity and proof of address is required.
eFICA removes the chore of obtaining such documents and having staff members authenticate them through naked-eye checks. There are now digital means to retrieve customers verified ID information, confirmed personal detail, and authentic banks statements, online, in real-time, and from anywhere.
Sophisticated software that is linked in with Home Affairs, banks and credit bureaus can draw this information up electronically. Obtained from trusted sources the information authenticity is automatically confirmed.