Lydia's business sector requires it to know its clients. The ACPR, an institution integrated into the Banque de France, is very clear on this matter.
The obligation to know the customer
In order to simplify the creation of an account from a mobile phone, and because the risks are limited, the obligations to identify a customer are initially lightened. Customers simply declare their identity when registering for the service.
Beyond a certain level of use or after a certain period of time, customers will have to prove and supplement the identity they have declared, with supporting documents.
While most of the customers concerned will be able to simply follow the identity verification process in the application, Lydia may also ask certain customers to provide additional supporting documents, such as a tax assessment, pay slip or proof of address.
Types of proof of residence accepted
In some cases, the customer will be asked to provide proof of address.
Here are some examples of documents customers can use:
- Bank statement
- Water, electricity, gas, internet or phone bill
- Home insurance receipt - fire, rental risks or civil liability
- Tax assessment or tax exemption certificate
- Rental payment receipt (it must not be handwritten)
The document must be less than one year old (with the exception of the account statement, which must be less than three months old), bear the customer's first and last name and be visible in its entirety (including the borders).
- Proof of address of the person hosting the user;
- Handwritten proof of accommodation signed by the person whose name appears on the proof of address;
- Identity document of the person who signed the proof of address. It must contain the page with the signature if it is a passport.
Validation and deadline
While identity documents are uploaded in-app, proofs of address are to be sent via email to customer service.
Consequently, it may take a little longer for them to get approved. Customers will be notified via email once the validation process is over.