Identification Verification Solutions

Sybrin's Identification Verification System is a comprehensive tool used to capture, store and verify signatures and account mandates. Identification verification is a key part in cheque verification, preventing fraud and ensuring that account mandates are upheld.
The Sybrin Identification Verification Module is made up of 2 sides to a system, the first being Automatic Verification, this runs through a service that automatically verifies the cheque image with associated Signature Images and Mandates. The automatic process can then re-route the image through to a manual process, if the requirements are not met or a process has been set to manual.

With the secondary option the user selects the signatures on the cheque from a list of mandate members and the system automatically checks the mandates and indicates to the user which ones are valid. The customer’s signatures will be captured, managed and stored by the Sybrin Identification Verification System (IVS).

Advantages of using a centralised Identification verification and storage module are endless. Approximately 20% of all items which are sent to the Banks Central Processing Centre require Identification Verification either due to a technical fault on the cheque or simple transactions such as the amount on the cheque exceed the customer’s account limit. This will often require that the item is sent back to the branch for verification because the account mandates are held at the branch. This process can be costly and time consuming. An online verification system eliminates this.

Despite the constant changes in banking technology sector, Signatures are still the most universally accepted means by which to verify transactions within the banking and financial sectors. The vast size of the financial and banking institutions, growing number of transactions and the increasing complexity of these transactions has dictated a move toward more effective technology options. The Sybrin Identification Verification Module also contains an Automatic Signature Verification option which will incorporate biometric signature recognition software which will automatically and digitally compare the signature on the physical cheque with the signature stored in the repository.