Whether you’re a large real estate enterprise or a boutique estate agency business, FICA Compliance can be complicated and available solutions difficult to decipher.

Check out our Frequently Asked Questions (FAQs) for some detail on common topics under consideration.

If you can’t find what you are looking for in our FAQ’s send your question through the contact form and we will get right back to you.

How do i sign up?

Step one:
Let us know you are interested through the Contact Us form or by emailing info@fica4u.co.za

Step two:
We will contact you to collect information about your agency, your brand and the agents you would like to use the system

Step three:
Our team will register your agency, setup your white-labelled verification website and create accounts for your agents

Step four:
Your agents will receive an invitation email to download the FICA4U app to their mobile phone

Step five:
Buy credits from our website

All agents in your office will make use of these credits, where 1 credit = 1 FICA verification.  You will receive weekly reports showing changes in your account, usage and which agents have FICA’d which customers.

What makes up the FICA4U solution?

FICA4U provides an online and automated compliance solution for South African Real Estate.

The solution is made up of:

1. The FICA4U agent’s mobile app – that enables agents to perform face to face or non face to face customer due diligence (FICA verifications).

2. A white-labelled verification website – that is used by the real estate agent’s customer.

3. The FICA4U Compliance Cloud – which is a sophisticated compliance platform that’s integrated with various data providers and verification services to check customer provided data and documents as well as produce and store customer verification reports

How does the FICA4U solution actually work?

After signing up, subscribing real estate agents have access to the FICA4U mobile app. Using the app, agents are able to do FICA verification on their customers in both face-to-face and non-face-to-face modes.When using the face-to-face option, the agent will use FICA4U’s mobile app to take their customer through the process – which usually takes 3-5 minutes.

When opting for non-face-to-face verification the agent will use the mobile app to send an invitation to their customer by email. The customer then clicks on the link in the invitation email and uses the agency branded verification website to capture their information.

Once all the information is captured the FICA4U Compliance Cloud verifies the customer’s identity using a combination of biometric algorithms and 3rd party data sources to produce a verification report. This verification report is sent to the agent and stored against their profile in the FICA4U Compliance Cloud.

Who can use FICA4U’s solution?

FICA4U’s compliance solution can be used by any South African Real Estate business. In both for sale and rental business units.

What is an RMCP?

RMCP means Risk Management and Compliance Programme. It’s a term defined by the Financial Intelligence Centre Act (FICA) and is a document required by every accountable institution. Accountable institutions are listed in schedule 1 of the FIC Act.

In April 2019 the Act was amended such that real estate enterprises became accountable institutions and are required to implement a risk based approach to customer due diligence. This risk based approached specific to the real estate business in question is defined in the company’s RMCP.

How do I buy credits?

Credits can be bought online using FICA4U’s payment gateway.

If for whatever reason this doesn’t work for you please contact us on info@fica4u.co.za

1 Credit = 1 FICA verification