ABCUL Specifies CallML for ID Verification
ABCUL, the Association of British Credit Unions, has signed an exclusive deal with Callcredit to enable ABCUL members to carry out their anti-money laundering (AML) customer ID verification checks using Callcredit's online service CallML.
More than a third of a million people in the UK belong to credit unions, which are financial cooperatives providing a range of financial services to members at favourable rates.
ABCUL's Membership Services Manager Lucia Webster said:
"Like all financial services organisations, our credit unions are required by AML legislation to check the identities of everyone who wants to join. As an online service CallML is easy to implement, very cost effective, completes a check in seconds and provides a full audit trail. It saves time, effort and money."
As part of the deal ABCUL's members will receive preferential and highly discounted rates on CallML.
CallML has been specially developed to meet the requirements of anti-money laundering legislation. It uses a wide range of approved and independent data sources, including the Electoral Roll and a full credit database, to confirm identities in seconds - 24 hours a day, 7 days a week.
CallML is already used by numerous companies, including a number of major UK banks and building societies, to satisfy their 'Know Your Customer' requirements.