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Compliant, Trusted and Secure: Veremark, the Ideal Screening and Hiring Partner for the Regulated Sector

Screening and hiring for Banking, Financial Services, and Insurance sectors (BFSI) simplified using automation.

Financial services companies and those involved in compliance-related processes always require an accurate background verification process. 

With technology improving every day and the growing requirement for efficient hiring in diverse work environments globally, the need for effective, reliable credential verification has never been more critical.

From FinTech and Financial Services businesses, including other regulated sectors, InsurTech, Payment ServiceProviders, Open Banking, to consultancies - anyone connected to hiring is facing increasing pressure due to stringent regulations. Therefore, background check software and reference checks must be thorough. Further, given thecurrent hiring trends across industries, global background screening needs to be more expedient than ever.

The traditional methods of conducting background checks are time-consuming and labor-intensive. Automation is the wayto go as companies need more efficient, thorough, and transparent international background verification software.

Veremark has refined this process. It doesn’t just get the job done, it ensures the job is done right. You don’t need to go through complicated reports and investigation summaries as the data is collated and presented clearly.

The background screening software’s reports provide everything required to make the hiring decision or share the information easily via a link or PDF. These reports can be used during the hiring process and the employees’ tenure.

Data security is a priority, and that’s why Veremark protects your company’s and every candidate’s data using blockchain technology. Veremark’s Career Passport is a new, secure, and accurate information system that can be updated for future employment positions.

Even as a payment service provider, you don’t need to have complex systems created from scratch. Veremark integrates the screening and hiring process into your existing workflow across major ATS systems. This means results are a lot quicker and can be added to the employees’ previous history.

What’s more, with a platform like this, you don’t have the overhanging concern of costs that do not return their investment. Curbing costs can be crucial to a business, whether for open banking or any other financial services. Veremark offers a pay-as-you-go candidate screening process, which is beneficial if you want to scale up the use of Veremark’s employee screening software for a dozen employees or get adequate employer references for a thousand.

Veremark’s dashboard is comprehensive and offers ease of use and clarity. You don’t have to account for dropping employees that you have already started training while waiting for traditional employment background check companies to get back to you.

FinTech and other regulated businesses are steadily expanding outside their country of origin. With the hiring process becoming more geographically diverse and increasingly technology-dependent, Veremark also presents you with a smorgasbord of global checks. No matter where you are hiring from, it makes more sense to have the following options at your fingertips:

  • Reference checks after interviews and during the selection process
  • Financial Regulatory Check
  • Employment history check and verification
  • Credit checks for employment
  • Academic achievement and qualification checks for employment
  • Automated ID checking
  • Criminal record checks online
  • Global sanctions checks
  • Professional Membership Checks
  • Adverse media checks and screening, including applicant tracking
  • Civil checks
  • Bankruptcy and insolvency checks
  • Psychometric tests for employment, including applicant screening

Traditional paper check verification is rapidly becoming a method of the past. More enterprises, medium-sized businesses, and even fast-growing start-ups have already taken steps toward the digital revolution. They are all making the move from traditional to digital credential verification, leaving the cost-and labour-intensive paper check verification process behind. 

Use Veremark, a trusted, secure screening and hiring software that gives you the assurance you need about hiring the right candidates. 

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