Inquiries overview

Persona's Inquiries is a product that enables secure collection and verification of various user information types, such as IDs and documents.

One of the standout features of this product is its high level of customization. Understanding the need for brand coherence in the data collection process, Persona allows customers to modify their flow screens, change text, and add or remove elements to ensure a seamless user experience.

In addition to customization, Persona supports sophisticated, dynamic workflows. Customers can modify the user journey based on inputs or previous verification outcomes, resulting in a more personalized and efficient data collection process.

To manage this, Persona offers an inquiry template builder. This tool provides a visual representation of the data collection flow, illustrating how the process might evolve based on user actions or verification results.

Further enhancing the customization capability, Persona integrates a theme editor within the template editor. This feature allows customers to modify every visual aspect of the flow, including text, font, logos, and button shapes, to align with their brand.

First and foremost, it’s important that your Fintech understand all your KYC and regulatory requirements.

Elephant Co example

Note: Persona does not offer compliance advice or consulting. If you’re unsure about your legal requirements, talk to an expert.

In general terms, Fintechs operating in the US must conform to a customer identification program (CIP).

At its core, KYC contains three basic components: an identification check with an ID card, face verification, and document verification.

Examples of documents that are usually collected by Fintechs:

  1. Documents are eligible to verify identity:
    • Government-issued passport
    • Government-issued driver’s license
    • Other types of government-issued photo ID
  2. Documents that are eligible to verify address:
    • Bank account statement
    • Utility bills
    • House purchase documents
    • Employer’s proof of residence
    • Other valid documents containing residency status

Fintech businesses must have their own KYC policy as well. This policy usually contains:

  • Customer Policy terms
  • Customer Identification Procedures (CIP)
  • Monitoring of Transactions/ On-going Due Diligence: Customer Identification Programs (CIP), Customer Due Diligence (CDD), Simplified Due Diligence (SDD), and Enhanced Due Diligence (EDD).
  • Risk Management