FTAdviser.com

Advertising

eIDV, Identity checking system, www.eIDV.co.uk

Provider says...

A new online portal has been launched by eIDV, which can verify a client’s identity in seconds for IFAs and prevent identity fraud.

Les Sharpe, managing director of eIDV, said the system enabled advisers to offer better data security to clients as it minimises the need for valuable personal information to be posted, photocopied and stored in the traditional manner. Instead everything can be processed electronically.

Mr Sharpe said: “The key benefit of eIDV is it enables professional advisers to simply and efficiently verify a client’s identity instantly – even while sitting in the client’s office or living room. The whole process of acquiring, registering and maintaining client relationships becomes streamlined with the ultimate objective of creating less stress for the client and a significant time and expense saving for the professional adviser.”

We say...

Plus points...

The most noticeable advantage of this new software is the ability to verify a client’s identity so quickly and effortlessly without the usual hassle, helping to make things easier and smoother in a continually tough market for both the adviser and the client.

Could do better...

For some people technology will never replace doing things thoroughly and manually. This system should be an addition rather than the adviser’s only method of identifying clients’ identity.

Adviser says...

Graham Tiffin, director of Surrey-based IFA Clairville York, said: “We used to obtain customers original documents over a number of days, photocopy them, store the paper copies and send certified copies with applications to product providers. This was both time consuming and expensive.

“Now we have a common procedure whereby it takes a matter of minutes to verify the identity online, storing only two PDF documents electronically.”

Four stars