Stordoc is designed to overcome the current challenges experienced with FICA/RICA,
- high compliance risks (of FICA not being performed properly, poor
quality of documentation)
- the lack of accountability (of staff)
- operational inefficiencies
(of processing paper)
- fraud & money laundering
(due to the lack of controls or transparency).
Your clients no doubt also experience regular frustration, delays and time wasting,
repeatedly and fail to understand why FICA is necessary.
Stordoc allows compliance documents to be properly authenticated and verified. |
These documents are, then scanned and uploaded, using a wizard based application.
The solution shows an indicator of the Client’s FICA status, automatically determined
by your FICA rules which are built into the system, using a complex matrix. The
solution caters for individuals and all types of juristic entities.
Various data verification services are done (such as ID checks against Home Affairs
records, online forensic checks etc).
Once available in electronic form, staff can review the documents (as secure pdf’s)
via a web portal.
The verification is recorded in a full audit trail, with a host of different customisable
Stordoc will significantly improve your company’s regulatory compliance, mitigating
the risks of non-compliance and fraudulent transactions. The performance of the
uploaders and the quality of the scanned images will be significantly improved (as
the image quality is guaranteed).
The entire process will become transparent and measurable – raising efficiency levels.
Proper reporting will be available and FICA records are indexed and easily searchable
for audit purposes.
Finally, by removing paper from the process makes it far quicker and cheaper.
Stordoc will help to reduce fraud, due to the following features:
- Level of FICA/RICA Training:
- The compliance training is of a very high quality
and all attendees also have to pass an online assessment
- Database verifications:
- Home Affairs records
- Various other sources – to the verify contact details
and residential addresses
- Enforcement of your FICA/RICA rules (in the system)
- This forces staff to comply (up front) and is a
major risk mitigator
- Your compliance officer can set, change and enforce
your FICA/RICA rules instantly
- Review Process:
- Every single upload can be checked by a designated
reviewer (with tiered levels of checking available)
- Quality of scanned documents:
- All documents are guaranteed to be of a high and