- Purpose and Background
KYC is a regulatory requirement aimed at preventing illegal activities, such as fraud, money laundering, and terrorism financing, within the financial system. Hela Pesa has established a robust KYC process to safeguard its clients and ensure the integrity of financial transactions.
- Data Collection
When clients engage with Hela Pesa, they are required to provide certain data and undergo a verification process to confirm their identity and legitimacy. This process includes:
Selfies: Clients are asked to provide a selfie to verify that the person submitting the identification documents is indeed the client.
ID Card Picture (Front and Back): Clients are required to provide clear pictures of both the front and back of their ID cards. This ensures that the ID is genuine and assists in confirming the client’s identity.
Agent Contact for Additional Information: In some cases, Hela Pesa’s agents may reach out to clients for additional information or clarification. This step further enhances the verification process and minimizes the risk of fraudulent activities.
- Location Tracking on Hela Pesa App
To enhance security and facilitate future transactions, clients are requested to enable their location settings on the Hela Pesa App.
- Deductions Through Check Off
Hela Pesa facilitates client payments by deducting amounts directly from their payslips, known as “check off.” This convenient method ensures timely repayments and simplifies the loan repayment process for clients.
Benefits of Hela Pesa’s KYC Process
Client Protection: By rigorously verifying clients’ identities, Hela Pesa ensures that its services are provided to legitimate individuals, protecting both clients and the institution from potential fraud or misuse.
Compliance: The KYC process aligns with industry regulations, demonstrating Hela Pesa’s commitment to operating within the legal framework.
Enhanced Security: The combination of selfies, ID card pictures, and location tracking adds layers of security, making it more difficult for unauthorized individuals to engage in fraudulent activities.
Data Privacy: Hela Pesa’s adherence to data protection measures reflects its dedication to safeguarding clients’ personal information and privacy.
In summary, Hela Pesa’s comprehensive KYC process, involving data collection through selfies, ID card pictures, and location tracking, is designed to ensure the authenticity of clients, comply with regulatory requirements, and provide a secure and transparent financial environment for both clients and the institution.