iComply with Matthew Unger | E151

Easy to deploy KYC and AML.

In this 151st episode of Fintech Impact, Jason Pereira, award-winning financial planner, university lecturer, writer, and host interviews Matthew Unger, the CEO of iComply, a company that deploys intelligent compliance management services! 

Episode Highlights: 

● 0:35 – Matthew Unger introduces iComply. 

● 1:18 – What was the origin of iComply and why did Matthew create it? 

● 5:21 – How is iComply different from its competition? 

● 8:49 – Jason translates iComply’s platform into layman’s terms. 

● 10:15 – Matthew discusses the growing possibilities of client-side processing. 

● 15:10 – How does iComply protect the user experience? 

● 17:00 – Matthew breaks down the validation problems of current API–based KYC data services. 

● 20:57 – What would Matthew change about his industry as a whole? 

● 23:08 – Matthew discusses the biggest challenge in getting iComply to where it is today. 

● 25:02 – What excites Matthew the most about what he does? 

3 Key Points 

1. COVID has forced people and businesses out of brick–and–mortar services and into the future of financial tech. 

2. iComply sends verification programming to the devices of the end-users rather than having them come into a store to do facial verification. 

3. API–based KYC workflows have taken the human element out of the data input process, allowing users to make it to the end of the process before informing them that there is a problem. 

Tweetable Quotes: 

● “Things like KYC, things like compliance need to have a fresh look at how we handle user data and user privacy, and that’s really what led us down this path.” – Matthew Unger 

● “What we actually do is we send the verification program into the browser of the client, so all of their data stays on their device.” – Matthew Unger 

● “At the end of the day, you’re still pushing some form of data into the cloud to feedback something to verify.” – Jason Pereira 

● “We can perform initial validation on the date the user’s inputting, and when the user inputs data that doesn’t seem to check out, we can immediately ask the user to correct it while they’re sitting at that form field.” – Matthew Unger

Resources Mentioned: 

● Facebook – Jason Pereira’s Facebook 

● LinkedIn – Jason Pereira’s LinkedIn 

● FintechImpact.co – Website for Fintech Impact 

● JasonPereira.ca – Sign up for Jason Pereira’s newsletter

● Woodgate.com – Website for Woodgate Financial 

● iComplyis.com– Website for iComply