We are thrilled to announce that G2’s Summer Report 2024 has recognized Ondato with 18 badges, solidifying our reputation as a trusted provider in various software fields. This quarter, Ondato has been named twice a Leader in the Anti-Money Laundering and Identity Verification category, a testament to G2’s continued recognition of our expertise in the industry.
We are deeply honored to know that our customers are satisfied with our service. In this article, we want to take a closer look at the G2 awards.
Ondato’s Awards
Here’s a closer look at the titles G2 has awarded Ondato this quarter:
Anti-Money Laundering Category
- Leader
- Momentum Leader
- High Performer in EMEA
- High Performer in Europe
- Mid-market High Performer
- Small Business High Performer
Identity Verification Category
- Leader
- High Performer in EMEA
- High Performer in Europe
Biometric Authentication Category
- Momentum Leader
- Easiest To Do Business With
- High Performer in EMEA
- High Performer in Europe
- High Performer
Age Verification Category
- Easiest To Do Business With
E-commerce Category
- Easiest To Do Business With
- High Performer
Governance, Risk and Compliance Category
- High Performer
Why Ondato?
With the awards in mind, let’s look at why our customers choose us:
Cost Efficiency
Traditional Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures typically involve substantial expenses, including labor, office space, technology, training, and other associated costs. The cost of employing skilled KYC specialists alone can exceed that of any compliance solution. By integrating an automated compliance service like Ondato, businesses can significantly reduce overall AML compliance costs, potentially cutting them by half or more, depending on their unique circumstances.
Reduced KYC/AML Processing Time
There is a direct correlation between the speed of application processing and customer satisfaction. Minimizing the duration of KYC and AML processes is crucial for retaining clients. On average, banks spend around 18 minutes verifying a client’s identity and conducting KYC and AML checks, often leading to customer frustration. Ondato significantly reduces these processing times, alleviating customer frustration.
Enhanced Customer Experience
Digital identity verification offers users a seamless and convenient experience. Advances in regulatory technology allow for the effortless collection of sensitive KYC data and documents. By eliminating the need for in-person interactions, customers can easily become clients of banks or cryptocurrency traders from the comfort of their homes.
Improved KYC Success Rate
In manual KYC processes, human errors are inevitable and can sometimes lead to the omission of critical KYC data, which might indicate a client’s high-risk status. Integrating AI-based Regtech solutions enhances the efficacy of the verification process. These solutions excel at detecting document alterations and spoofing attempts, thereby effectively reducing potential risks.
Uncover the impact Ondato has on the KYC and AML market by exploring our top-rated products:
- Biometric authentication service
- Business verification service
- Sanctions screening and monitoring software
- Age verification software
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