Smarter Identity Verification Without The Risk
With Tranche 2 AML/CTF reforms and TPB POI requirements the pressure on accountants and tax agents to manage risk is higher than ever.
TrueVault replaces slow, manual checks with a secure, automated solution.
- Mitigate Compliance Risk: Our privacy preserving process enables the foundational aspect of verifying an identity to compliment customer due diligence/KYC.
- Drastically Reduce Data Risk: TrueVault eliminates the need to handle or store sensitive documents, helping you comply with the Privacy Act and protecting your firm from data breaches.
- Defend Against Fraud Risk: TrueVault verifies identities against official sources, giving you an ironclad confirmation and protecting your clients from impersonation and fraud.
Transform risk from a burden into a competitive advantage with TrueVault.
Technology to Compliment KYC/VOI for Financial Services
The Australian accounting sector is about to undergo a significant shift. The upcoming Tranche 2 AML/CTF reforms and existing Tax Practitioners Board (TPB) Verification of Identity (VOI) requirements demand a strategic approach to client verification, risk management and record-keeping without creating a new administrative burden.
The traditional process is a major weak point. It creates unnecessary risk and liability by requiring your staff to manually handle and store sensitive client documents. This approach clashes with your legal obligations under the Privacy Act 1988 and exposes your firm to data breaches, which can be costly and severely damage your reputation.
This is where TrueVault provides a modern, secure solution. Our verification process is user-initiated and controlled, so your clients only share what is absolutely necessary for the transaction. This selective disclosure reduces your liability and risk, as you never possess the sensitive data in the first place.
The identity is then biometrically anchored to a verified signature, ensuring it's tied to a real person and checked against authoritative sources like the Document Verification Service (DVS) for an ironclad confirmation.
TrueVault isn't just a verification tool it's the strategic advantage you need to navigate the new regulatory landscape, protect your clients, and accelerate your business.
Biometrically Locked
Simplify Know Your Client (KYC) / Verification of Identity (VOI)
No Document Storage
The TrueVault process removes the need to store personal documents. This reduces the risk of data breaches and helps protect your client’s sensitive information.
Instant & Reusable Credential
Create a verified digital credential in seconds and reuse it across all of your properties or agents - no repeated document uploads required.
Personal Data Control
Build trust by letting clients stay in full control of their personal data. They decide what to share, keeping their privacy protected while you stay compliant.