How to Do Sidra Bank KYC And P2P Verification: A Step-by-Step Guide For New Users

KYC and P2P verification

In today’s article, we will guide you on how to start and complete the Sidra Bank KYC and P2P verification. The process is simple and can be completed through the Sidra app.

What is Sidra Bank?

Sidra Bank emerges as a groundbreaking endeavor, not confined to the conventional norms of banking but rather poised at the forefront of the digital financial revolution. In an era where cryptocurrencies are reshaping traditional finance, Sidra Bank stands out as a project meticulously crafted to cater to the burgeoning demand for Shariah-compliant digital assets.

In essence, Sidra Bank isn’t merely about transactions and loans; it symbolizes an amalgamation of innovation and adherence to the ethical principles of Islamic finance, as outlined in Sharia Law. At its core, the bank aims to pioneer the creation of digital currencies and financial instruments that align seamlessly with the tenets of Islamic financing.

Central to this mission is the avoidance of interest-based transactions, commonly referred to as riba in Islamic finance. Instead, Sidra Bank promotes profit-sharing models and equitable distribution of wealth, in line with Shariah principles. This implies a departure from the conventional banking practices where interest accrual is fundamental to the financial operations.

By embracing Shariah-compliant digital assets, Sidra Bank not only taps into a rapidly growing market but also fosters inclusivity within the global financial landscape. It caters to a demographic that seeks financial solutions aligned with their religious beliefs, thereby expanding the accessibility and relevance of digital finance.

Moreover, the endeavor to create Shariah-compliant digital assets underscores a commitment to transparency and ethical conduct. Each financial instrument or currency issued by Sidra Bank undergoes rigorous scrutiny to ensure compliance with Sharia principles, thereby instilling confidence among users and investors alike.

Beyond its immediate objectives, Sidra Bank embodies the spirit of innovation and adaptability in the face of evolving financial paradigms. It serves as a testament to the transformative power of technology in reshaping not only how we transact but also the very essence of financial ethics and inclusivity. Follow the steps below to complete the verification process:

Step 1: Download the Sidra app from your mobile app store and install it on your smartphone. Once the installation is complete, open the app and create an account by providing the required information such as your name, email address, and phone number.

Step 2: After creating your account, you will be prompted to verify your email address. Check your email inbox for a verification link from Sidra Bank and click on it to verify your email.

Step 3: Once your email is verified, you can proceed to complete the KYC (Know Your Customer) process. This involves providing additional personal information such as your date of birth, address, and uploading a scanned copy of your identification document, such as a passport or national ID card.

Step 4: After submitting your KYC information, you will need to wait for the verification process to be completed by Sidra Bank. This usually takes a few business days, during which the bank will review your information and documents to ensure their authenticity and compliance with regulatory requirements.

Step 5: Once your KYC verification is completed, you can proceed to the P2P (Peer-to-Peer) verification process. This step is necessary if you want to use the Sidra app for peer-to-peer transactions, such as sending and receiving money from other Sidra users.

Step 6: To complete the P2P verification, you will need to link your bank account to your Sidra app. This can be done by providing your bank account details, such as the account number and routing number, or by authorizing the app to access your bank account information through secure APIs.

Step 7: Once your bank account is linked, Sidra Bank will initiate a small deposit into your account to verify its ownership. You will need to check your bank statement or online banking portal to find the deposit amount and enter it in the Sidra app to confirm the verification.

Step 8: After successfully completing the P2P verification, you will have full access to the features and functionalities of the Sidra app, including the ability to send and receive money, make payments, and manage your finances.

It is important to note that the Sidra Bank KYC and P2P verification processes are designed to ensure the security and integrity of the platform, as well as to comply with anti-money laundering (AML) and know your customer (KYC) regulations. By completing these verifications, you can have peace of mind knowing that your transactions are secure and that you are using a trusted and compliant financial service.

The video below explains better, kindly watch this video to understand 👇

Step 1: Login to KYC Port

Open the Sidra app on your device or phone to be precise and tap on the “Login with KYC Port” option. This will redirect you to the KYC login page.

Once you have reached the KYC login page, you will be prompted to enter your login credentials. If you are a new user, you will need to create an account by clicking on the “Sign Up” button. This will take you to a registration form where you will need to provide your personal details such as your name, email address, and phone number.
If you are an existing user, simply enter your email address and password in the designated fields and click on the “Login” button. If you have forgotten your password, you can click on the “Forgot Password” link to reset it.
After successfully logging in, you will be directed to your KYC dashboard. Here, you will have access to various features and options to manage your KYC process. You can view your profile information, upload required documents, track the progress of your verification, and communicate with the KYC team if needed.
It is important to ensure that the information you provide during the login process is accurate and up-to-date. This will help in expediting the verification process and avoid any delays or complications. Additionally, make sure to keep your login credentials secure and confidential to protect your personal information.
Once you have completed the login process and accessed your KYC dashboard, you can proceed to the next steps of the KYC verification process. These steps may include providing additional documents, answering verification questions, or scheduling an appointment for an in-person verification if required.
Remember, the KYC process is designed to verify your identity and ensure compliance with regulatory requirements. By following the steps outlined in the KYC portal, you can complete the verification process smoothly and efficiently.

Step 2: Upload Requested Documents

If you are a new member, click on the “Add New” button to begin the verification process. You will be prompted to upload the requested documents, such as your personal ID. Ensure that you upload the correct and valid documents.

Once you have uploaded the documents, they will be reviewed by the Sidra team. This process may take some time, so be patient and wait for the review to be completed.

The Sidra team takes the security and privacy of your personal information seriously. Rest assured that your documents will be handled with the utmost care and confidentiality. The team follows strict protocols to ensure that your sensitive information is protected at all times. They employ industry-standard encryption methods and secure servers to safeguard your data.

During the review process, the Sidra team will carefully examine the documents you have submitted. They will verify the authenticity and accuracy of the information provided. This verification process is crucial to ensure the integrity of the platform and to prevent any fraudulent activities.

Once the review is completed, you will receive a notification confirming the status of your document verification. If everything is in order, your account will be successfully verified, and you will gain access to all the features and benefits of the Sidra platform.

In case there are any issues or discrepancies with the documents you have submitted, the Sidra team will reach out to you for further clarification or additional documents if necessary. It is important to respond promptly to any requests from the team to expedite the verification process.

If, for any reason, your document verification is unsuccessful, the Sidra team will provide you with detailed feedback on the reasons for the rejection. You will then have the opportunity to rectify the issues and resubmit the necessary documents for review.

Remember, the document verification process is an essential step in ensuring the security and trustworthiness of the Sidra platform. By meticulously reviewing and verifying the documents, the Sidra team aims to create a safe and reliable environment for all members.

Step 3: Complete the Process

After the review process is completed, you will receive a notification regarding the status of your document. If your document is marked as “Not Completed,” click on it and provide the necessary information by completing the required values.

If your document is not accepted, you can re-upload the documents and wait for confirmation. Make sure that the document status shows as “Document Status Confirmed” before proceeding.

Once your document is marked as “Document Status Confirmed,” you can proceed to the next step in the process. This may involve submitting additional supporting documents or completing specific forms. It is important to carefully review the instructions provided and ensure that all requirements are met.

During this step, it is crucial to pay attention to any deadlines or timeframes specified by the reviewing authority. Failure to meet these deadlines may result in delays or even rejection of your application. Therefore, it is advisable to keep track of important dates and set reminders to ensure timely completion of the process.

Additionally, it is recommended to double-check all the information provided in your document. Any inaccuracies or inconsistencies could potentially lead to complications or rejection. Take the time to review your document thoroughly and make any necessary corrections before proceeding.

Once you have completed all the required steps and submitted all the necessary documents, you will need to wait for the final decision. The reviewing authority will carefully evaluate your application and make a determination based on their criteria and guidelines.

It is important to note that the time it takes to receive a decision may vary depending on various factors such as the complexity of your application, the workload of the reviewing authority, and any additional requirements or processes that need to be completed.

During this waiting period, it is advisable to remain patient and refrain from contacting the reviewing authority for updates unless specifically instructed to do so. Constantly reaching out for updates may cause unnecessary delays and hinder the processing of your application.

Once a decision has been made, you will be notified of the outcome. If your application is approved, you will receive further instructions on the next steps to be taken. If, however, your application is rejected, you may be provided with reasons for the rejection and, in some cases, given the opportunity to appeal the decision.

Overall, completing the document review process requires careful attention to detail, adherence to instructions, and patience. By following the necessary steps and providing accurate and complete information, you can increase your chances of a successful outcome.

Step 4: Upload Selfie Images

If your document is still being rejected, you can upload selfie images related to the documents. Click on the documents with the “Not Confirmed” status and upload the corresponding selfie images by clicking on the designated icon.

By providing clear and accurate selfie images, you increase the chances of your document being confirmed quickly.

Now, when it comes to uploading selfie images, there are a few things you need to keep in mind. First and foremost, make sure that the images are of high quality and clearly show your face. Blurry or pixelated images may not be accepted, as they can make it difficult for the verification team to confirm your identity.
When taking the selfie, ensure that your face is well-lit and clearly visible. Avoid wearing sunglasses, hats, or any other accessories that may obstruct your face. It’s important to remember that the verification process relies heavily on facial recognition technology, so the more accurately your face can be identified, the better.
In addition to the quality of the images, it’s also crucial to upload the correct selfie image for each document. Double-check that you are uploading the selfie image that corresponds to the specific document that is being rejected. Uploading the wrong selfie image can further delay the confirmation process and may result in additional rejections.
If you are unsure about the requirements or specifications for the selfie images, it’s always a good idea to refer to the guidelines provided by the platform or organization you are dealing with. They may have specific instructions on the format, size, or any other specifications that need to be followed.
Remember, the purpose of uploading selfie images is to provide additional evidence of your identity and to help expedite the verification process. By following these guidelines and ensuring that you provide clear and accurate selfie images, you can increase the likelihood of your document being confirmed quickly and without any further complications.

Step 5: Face Track

The next step is to initiate the video tracking process. Click on the displayed icon on the page to begin the face track verification. This step requires capturing a video as part of the verification process.

Once you click on the icon, the camera on your device will be activated, and you will be prompted to position your face within the frame. Make sure your face is well-lit and clearly visible to the camera. The system will guide you through the process, providing instructions on how to position your face and hold still for a few seconds.

During the face track verification, the system will analyze various facial features and movements to ensure the authenticity of your identity. It will track the movement of your eyes, nose, mouth, and other facial landmarks to create a unique facial profile. This profile will be compared to the reference image or video you provided earlier in the verification process.

It is important to note that the face track verification process is designed to be secure and accurate. The system uses advanced algorithms and machine learning techniques to detect any signs of tampering or fraudulent activity. It can distinguish between a live person and a still image or video playback, ensuring that only genuine individuals are granted access to the desired service or platform.

During the video tracking process, it is crucial to follow the instructions provided by the system. This includes keeping your face within the frame, maintaining a neutral expression, and avoiding any sudden movements. Failure to comply with these instructions may result in an unsuccessful verification attempt, requiring you to repeat the process.

Once the video tracking is complete, the system will analyze the collected data and compare it to the reference image or video. This comparison will determine whether the face track verification was successful or not. If the system confirms your identity, you will be granted access to the desired service or platform. However, if the verification is unsuccessful, you may be required to provide additional documentation or undergo further verification steps.

Overall, the face track verification process is an essential component of modern security systems. It provides an additional layer of protection against identity theft, fraud, and unauthorized access. By utilizing advanced facial recognition technology, organizations can ensure the integrity and authenticity of their user base, creating a safer and more secure environment for everyone involved.

Step 6: P2P Verification

To proceed with the P2P verification, you need at least two users to confirm your identity. These users will take a real-time video of you through the P2P verification account. This step adds an extra layer of security and ensures the accuracy of the verification process.

Once you reach this stage of the verification process, you may be wondering how the P2P verification works and why it is necessary. P2P, or peer-to-peer, verification is a method that involves real-time interaction between users to verify the authenticity of an individual’s identity. This process is crucial in preventing fraud and ensuring that only legitimate users gain access to sensitive information or services.
The concept behind P2P verification is relatively simple. Instead of relying solely on documents or static images to verify someone’s identity, P2P verification allows for live interaction between the user and other individuals who act as verifiers. These verifiers are typically other users of the platform who have already undergone the verification process themselves.
To initiate the P2P verification, you will be prompted to schedule a video call with two verifiers. During this call, the verifiers will ask you a series of questions to confirm your identity. They may also request that you show specific identification documents or perform certain actions to further validate your identity.
The real-time nature of the P2P verification process adds an extra layer of security by ensuring that the person being verified is physically present and actively participating. This eliminates the possibility of someone using stolen or manipulated images to pass the verification process.
Moreover, the involvement of multiple verifiers enhances the accuracy of the verification process. By having multiple individuals confirm your identity, the chances of any errors or fraudulent activities are significantly reduced. Each verifier acts as a check and balance for the other, increasing the overall reliability of the verification outcome.
During the P2P verification, it is crucial to follow the instructions provided by the verifiers carefully. This includes ensuring that the video call is conducted in a well-lit environment, that your face is clearly visible, and that you have any necessary identification documents readily available. By adhering to these guidelines, you can help expedite the verification process and minimize any potential delays.
Once the P2P verification is successfully completed, you can proceed to the next step in the overall verification process. This may involve additional checks or requirements, depending on the nature of the platform or service you are trying to access. However, by completing the P2P verification, you can be confident that your identity has been thoroughly verified and that you are one step closer to gaining access to the desired service or platform.
In conclusion, P2P verification is an essential component of the overall identity verification process. By involving real-time interaction between users, it adds an extra layer of security and ensures the accuracy of the verification outcome. Through the participation of multiple verifiers, the chances of fraudulent activities are significantly reduced, providing a reliable and trustworthy verification process for both individuals and organizations.

During the KYC verification process, the Sidra KYC team carefully examines the documents and information provided by the applicant. They cross-check the details against various databases and conduct thorough background checks to ensure the authenticity and accuracy of the submitted documents.

The team follows a stringent process to review each application, taking into consideration the security measures and compliance regulations set by the relevant authorities. They meticulously analyze the documents, verifying the identity, address, and other relevant information provided by the applicant.

Additionally, the team also looks for any inconsistencies or red flags that may indicate potential fraud or illegal activities. They compare the submitted documents with known patterns of fraudulent behavior and conduct further investigations if necessary.

While the team strives to complete the KYC verification process as quickly as possible, it is important to note that the timeframe may vary depending on the volume of applications received and the complexity of the verification process. The team prioritizes accuracy and thoroughness over speed to ensure the integrity of the verification process.

During this waiting period, it is crucial to refrain from making any changes or updates to the submitted documents or information. Any modifications made during the review process may lead to delays or even rejection of the application. It is recommended to patiently await the completion of the verification process before taking any further actions.

Rest assured that the Sidra KYC team is committed to providing a secure and reliable verification process. They understand the importance of maintaining the confidentiality of the applicant’s information and adhere to strict data protection protocols.

Once the KYC verification is successfully completed, the applicant will receive a notification confirming the approval. This notification will provide further instructions on the next steps to be taken, such as accessing the platform or availing the services for which the KYC verification was required.

Now that your KYC verification has been successfully completed, you can fully access all the features and services provided by Sidra Bank. With a verified account, you can confidently engage in various financial transactions, such as opening a savings account, applying for loans, or investing in the stock market.

One of the key advantages of completing the KYC process is the enhanced security it provides. By verifying your identity, Sidra Bank ensures that only authorized individuals have access to your account and personal information. This helps protect you from potential fraud or unauthorized access.

In addition to the security benefits, a verified account opens up a world of opportunities. You can now take advantage of the various banking products and services offered by Sidra Bank. Whether you’re looking to save for the future, grow your wealth through investments, or manage your day-to-day finances, Sidra Bank has tailored solutions to meet your needs.

With your KYC verification completed, you can confidently explore the different account options available. Sidra Bank offers a range of accounts, including savings accounts, current accounts, and even specialized accounts for businesses or students. Each account comes with its own unique features and benefits, designed to help you achieve your financial goals.

If you’re interested in investing, Sidra Bank provides a comprehensive platform for trading stocks, bonds, and other financial instruments. With real-time market data, intuitive trading tools, and expert research insights, you can make informed investment decisions and grow your portfolio.

Furthermore, a verified account allows you to apply for loans and credit facilities with ease. Whether you need funds for a major purchase, to start a business, or to cover unexpected expenses, Sidra Bank offers competitive loan options tailored to your specific needs. The KYC verification process ensures that you have access to these financial services in a secure and reliable manner.

If you have any questions or concerns regarding your account or any of the services offered by Sidra Bank, our dedicated support team is here to assist you. You can reach out to us through various channels, including phone, email, or live chat. Our knowledgeable representatives are available to address your queries and provide guidance whenever you need it.

So, congratulations once again on successfully completing your KYC verification. Take full advantage of your verified account and start exploring the world of possibilities that Sidra Bank has to offer. We are confident that our comprehensive range of banking services will meet your financial needs and help you achieve your goals.

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