Residential articles Article 5 of 9
General Process 
How to submit a deal 
Application Steps 
Income Requirements 
Repayment Calculation 
Turnaround times 
How to get paid 
Early Payout 
Residential
ID Verification
Updated 5 Feb 2025The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) is an unavoidable piece of legislation that requires us to “identify” all customers.
Each financier’s interpretation of this legislation is different but we always need to “Know Your Customer”.
Important
Since the majority of customers go through Community First, the general process will be skewed towards their processes.
If we need to send the customer to another financier, the process may be different.
Plan A: ID Matrix
- As a first option, most banks will use Equifax’s ID Matrix software to verify a customer’s identity.
- The customer will receive a text message from the bank asking them to complete a few steps (selfie etc) to verify their identity.
- This usually has a 95% success rate.
- Learn more about ID matrix https://www.equifax.com.au/idmatrix/
Plan B: Certified ID
- If electronic ID check fails, we will need a certified ID posted along with the following form.