10 June 2020
Information on updating the identity verification process

We would like to inform you that at the beginning of June PeerBerry has implemented improvements to the clients’ identity verification process. From the 11th of June new investors have been verifying their identity under the new process. On July 21, the “Veriff” feature will be automatically activated for all clients who have not yet performed the re-verification.

What you should do?

On purpose to start the re-verification process before July 21, you need to contact our Client Support – you should inform us that you are ready to go through the re-verification process. Our specialists will activate “Veriff” function in your PeerBerry account and will assist you in going through the verification.

Why the re-verification feature is not enabled for all clients right now?

We want to make sure the re-verification process is as smooth as possible for you, so we give you the opportunity to re-verify your identity at a time convenient to you.

What will happen after July 21?

If you do not re-verify your identity by July 21, the “Veriff” feature will be activated for you on July 21 and from that date, you will not be able to perform any operations on your PeerBerry account until you re-verify your identity.

How to implement your identity verification?

The identity verification is very simple. All the process might take up to 10 minutes. To start your verification, please prepare your passport or ID card for your verification. Make sure you are in a well-lit room. When verifying your identity, please make sure your passport or ID is not expired, your full name, document ID number, and date of birth are clearly visible on the images.

More information about the identity verification process including the video instruction you will find here https://peerberry.com/help-articles/how-can-i-start-verification/.

Why improvements to the clients’ identity verification process are being implemented?

On purpose to make the identity verification process more efficient and automated, PeerBerry chose a business partner “Veriff”, which offers a smart identity verification solution. For most of you, this solution is not new, as the same partner is used by other financial industry players.

To have all data updated in the same way and format, we will ask you to re-perform your identity verification according to the new process.

Why do you need to verify your identity on PeerBerry?

According to European laws and regulations, we are bound to verify the identity of our investors. We follow all applicable laws and requirements for the payment industry on the purpose of providing a safe marketplace and preventing financial crimes. That includes verifying the identity of our investors to make sure it’s really you creating/using an account.

Which documents are accepted as proof of identity?

for EU citizens: your passport or national identity card (ID)

– for non-EU citizens: your passport

Which data will be stored during verification?

We’ll store the following data:

– photo of your face

– a photo of your identity document (front and back-side in case of ID)

– a photo of you holding your identity document

We’ll handle your data in accordance with the General Data Protection Regulation (GDPR) and other national binding laws on personal data protection and will only use it to comply with our legal obligations.

If you have any questions or need help, our Client Support will be happy to assist you.

Your PeerBerry team