The fintech startup provides companies with a simpler way to complete their FICA compliance process.
Fintech startup DocFox has signed up as a partner for the Finance Indaba, which will be held at the Sandton Convention Centre on 3 & 4 October. DocFox is a sophisticated yet easy-to-use web application that helps customers submit their FICA documents electronically in just a few taps. Customers can upload copies of their proof of identity and address documents, or submit documents using their smartphone camera.
Legislation prescribes that in non-face-to-face interactions, companies must take ‘reasonable steps’ to verify a client’s identity. Certified copies of documents, while commonly used, do not provide concrete proof of authenticity.
DocFox offers a higher level of authentication than current paper-based solutions. It conducts various fraud checks using the latest technology to ensure document authenticity and compliance. The tool also simplifies and speeds up the entire process. In addition, all communications with clients can be white-labelled by the institution.
In 2016, the company announced a partnership with Norton Rose Fulbright, a global law firm, which aims to provide companies with a simpler way to complete their FICA compliance process. DocFox is now exclusively available to the South African market, with plans to expand internationally via its US investor network and Norton Rose Fulbright’s global presence across Africa, Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Central Asia.
As a partner, DocFox will have an exhibition stand that the Finance Indaba, which is the country's biggest annual expo and conference for finance professionals.