Very few companies today run projects or applications that don’t utilise an Application Programming Interface (API) for the creation of new or value-added services based on the underlying software technologies.
The market demands single, simple APIs that integrate with multiple internal services as well as external APIs to provide data via a single point of query; abstracting complexity with a lightweight interface.
APIs facilitate not only the dissemination of knowledge, insight and actionable intelligence but also the design of other innovative online services.
One of the most popular use-cases for such a single, simple API is digital customer on-boarding.
Depending on the service or product that the customer is signing up for let alone the regulatory demands that have to to be applied in each case, the more asks mean more steps in the process.
The frustration borne of such a drawn-out process can lead to customers abandoning the early account set-up stages during the on-boarding process itself.
The W2 single, simple API provides businesses with fast and integrated access to a comprehensive set of data for mandatory Know Your Customer (KYC) and AML compliance checks and a variety of other business enabling checks such as address, age and biometric validation.
Screening potential new customers, clients and partners in order to protect your organisation from involvement in money laundering, terrorist financing and fraudulent activity as well as restricting access to underage users is a given nowadays.
The W2 API draws on multiple APIs and through that single, simple API, our clients can access all the underlying data sources needed to make the whole customer on-boarding process as simple, seamless and friction-less as possible.
Facing the burden of managing multiple end supplier contracts and their inherent, minimum order commitments with each individual supplier, W2 has a solution to simplify this compliance headache.
Via one W2 contract and a single, simple API integration, our clients can access W2’s global data services to suit its business needs and sequence the data in a way that make it as cost effective as possible.
Sadly, there are still a great many legacy systems out there that weren’t built using common underlying software architectures or principles supporting the notion of ‘Just One API’, ‘Just One Invoice’ and ‘Just One Contract’ for Compliance supplier management.
W2 sets itself apart from its competitors by providing simple to use services at affordable pricing and always providing exceptional customer service and support.
Call W2 today to hear more about the benefits of using a single API for all your compliance needs on 0330 088 9542
Sara West, W2 Chief Commercial Officer (CCO)
- Fast-Rising Crypto Payments Make Better KYC A Must - 20th May 2021
- One API to Rule Them All - 23rd August 2019