Digital on-boarding company, SiNERIX, has announced the general availability of its cloud-based digital identification, verification and on-boarding platform, Digital Engagement Cloud.

SiNERIX Digital Engagement Cloud includes multi-factor authentication, electronic signatures, HTML forms, and biometric identification for rapid document checks, and is designed to provide a full suite of digital transaction management solutions which easily integrate with an organisation’s existing CRM systems and verification products.

Founded to develop software applications to combat identify fraud and help legal and financial service organisations to comply with KYC regulations, SiNERIX now provides an end-to-end cloud-based service enabling HR departments, solicitors, conveyancers, mortgage lenders and insurers to seamlessly on-board new customers and employees.

Digital Engagement Cloud supports remote working, automates regulatory compliance checks and speeds up document workflow to provide clients with a more convenient on-boarding experience, while reducing risk and saving administration time and cost for providers. The cloud-based platform includes SmartLink pre-qualification and authentication; SmartSign electronic signature and document exchange; HTML fillable SmartForms with secure data exchange and PDF conversion; and SmartCheck identity document verification with biometric facial recognition that minimises false positives.

There is a growing need for digital identification and customer on-boarding technology to protect organisations as they expand their online and mobile services. Identity fraud has reached record levels in the UK according to Cifas, which reported that more than 190,000 people suffered identity fraud in the last year alone. Experian has estimated that the total number of people who have fallen victim to identity fraud is 3.25 million, resulting in financial losses of almost £5.4 billion a year.

It has been estimated that 84 out of every 10,000 mortgage applications are fraudulent, with mortgage lenders losing around £1.3 billion each year as a result. This is the same amount lost by insurers as a result of 350 fraudulent claims a day.

“There is always a balance to be struck between preventing fraud and making application processes easy and stress free for people. No one likes having to fill out lengthy forms, or provide multiple proofs of identity when applying for legal and financial services,” says David Kern, CEO of SiNERIX. “Digital Engagement Cloud is designed as an end-to-end on-boarding service, allowing firms to sign up new customers online and protect them from identity fraud, without forcing them to jump through multiple hoops to prove that they are who they say they are,” says Kern.