Compliance is widely perceived as challenging by most real estate agents. Due to a lack of precise understanding, more than 95% of Aruba’s real estate agents have outsourced compliance. Notaries use paperwork that many agents also employ, often requiring redundant data entry on multiple forms, scanning, printing, and so forth. Frequently, forms are returned due to incorrect completion, causing significant frustration. We wondered if there could be a better way.
As one of the few real estate agencies with in-house expertise, we handle compliance entirely ourselves and provide comprehensive reports to other agents. Nevertheless, we believed there had to be a more efficient approach. After over 6 months of research, testing, and development, we have launched our own system. It is the most advanced and user-friendly system on the market,benefiting both real estate agents and property buyers/sellers. Below, I will describe how it works, step by step.
With an accuracy of over 99%, the text is extracted from the ID document, and the photo is compared to the previous step. No human can perform this task more accurately than this system. Now, we are certain that the person is who they claim to be, and we can proceed to the next step.
To ensure secure future logins, we utilize this system. Logging in without a phone is not possible. A password alone is not secure enough. If you need to upload additional information later because you didn’t have everything on hand, it’s not a problem.
The text extracted from the ID document or any other address document by OCR is compared against a global database and a local national database to verify the address. Additionally, the current location is compared to the location data of the address, resulting in an accuracy rate of over 99%.
By implementing customized questionnaires, you provide answers to questions that are relevant to you.Irrelevant questions will not be visible to you in the system. This saves a lot of time and frustration. In this section, you can also upload all relevant documents, either by taking a photo or uploading from a mobile phone or computer. The questions are presented in a logical order and are clearly explained. It’s tailored to your needs, as it should be.
Our system performs the final mandatory check entirely automatically. It verifies whether your name appears on 1,700 global lists associated with money laundering or terrorism financing. In the vast majority of cases, there is no match. In some instances, there may be a match, which will require further investigation. If you clear this step as well, you are ready for the next stage: the purchase of your real estate.
We guide the entire process. We have had special software built for this purpose. Everything runs smoothly and seamlessly in succession. As a result, it is not only a simple process but also very user-friendly
With your mobile phone or simply from your computer at home, the camera scans your face, and our software accurately reads the required data in less than 5 seconds for comparison in the next step.
With an accuracy of over 99%, the text is extracted from the ID document, and the photo is compared to the previous step. No human can perform this task more accurately than this system. Now, we are certain that the person is who they claim to be, and we can proceed to the next step.
The text extracted from the ID document or any other address document by OCR is compared against a global database and a local national database to verify the address. Additionally, the current location is compared to the location data of the address, resulting in an accuracy rate of over 99%.
Our system performs the final mandatory check entirely automatically. It verifies whether your name appears on 1,700 global lists associated with money laundering or terrorism financing. In the vast majority of cases, there is no match. In some instances, there may be a match, which will require further investigation. If you clear this step as well, you are ready for the next stage: the purchase of your real estate.
Do you want to learn more about compliance? Do you want to receive a customized quote? Contact us!
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