Impact Hub® King’s Cross uses the Token of Trust® Compliance Solution to conduct KYC and AML checks on member applications.
In the past, the Impact Hub King’s Cross location handled KYC and AML checks for every member’s application through an internal process that didn’t provide reliable results, fast turnarounds, or a simple interface the team wanted. As a result, the team found themselves spending countless hours processing sensitive documents and worrying about whether or not member applications were being vetted properly. The team at Impact Hub King’s Cross in London knew there was a better way, and turned to Token of Trust for help.
The team began working with their Token of Trust verification expert to define requirements for satisfying the UK’s Anti-Money Laundering statutes while also maintaining the values within the company’s GDPR policy. Next, they began learning and applying best practices when using Token of Trust’s Compliance Solution for KYC and AML checks
By using Token of Trust’s Compliance Solution, Operations Manager Mo Munim, is able to rapidly invite all required members to verify their identity. “Token of Trust provides reliable results within a simple user interface that’s easy to navigate.” says Mo.
By switching to Token of Trust’s Compliance Solution, Finance and Process Manager Laura Gene Bussinger says, “We were able to drastically reduce the verification turnaround time as well as the labor required for our team to complete the process. More importantly, with the Token of Trust Platform we knew that the job was being done safely and correctly.” Her analysis indicates that Impact Hub King’s Cross decreased verification turnaround to 1/30th of the time it used to take and that they experienced a 587% total Return on Investment (ROI) by switching to Token of Trust’s Compliance Solution.