As regulatory frameworks grow more complex, the pressure on financial institutions to adopt secure, compliant technology has never been higher. A recent breakthrough by Bayometric marks a significant step forward in that direction. The company has officially achieved FINRA’s Electronic Fingerprint Submission (EFS) certification for its Live Scan software—placing it among a short list of trusted vendors authorized to electronically transmit fingerprint records to FINRA.
This milestone reaffirms Bayometric’s commitment to delivering fast, secure, and efficient identity verification solutions to broker-dealers, funding portals, and other firms regulated by the Financial Industry Regulatory Authority.
Bridging the Gap Between Compliance and Convenience
Prior to EFS certification, submitting fingerprints to FINRA involved labor-intensive procedures. HR teams relied on paper fingerprint cards, which were mailed to processing centers and often resulted in delays due to smudged prints or incomplete forms. For fast-paced financial organizations, this wasn’t just inconvenient—it could derail hiring timelines and compliance benchmarks.
Bayometric’s EFS-certified Live Scan software changes that. It enables firms to capture, validate, and securely submit fingerprint data directly to FINRA’s Central Registration Depository (CRD). With the burden of manual submission lifted, firms can now ensure faster background checks and onboarding timelines without compromising on security or data integrity.
Built for Security and Speed
Bayometric’s software was developed with both usability and regulatory compliance in mind. It automatically formats fingerprint images according to FBI and FINRA specifications, drastically reducing the risk of submission rejections. Its built-in validation engine identifies and flags problematic prints or incomplete data before submission, improving overall quality control.
Encryption protocols and secure data handling features also ensure that sensitive biometric data is protected at every step of the transmission process. For compliance professionals, this level of assurance is not only welcome—it’s necessary.
A Win for Broker-Dealers and Their Recruits
For broker-dealers, every delay in fingerprint submission can mean lost productivity and extended wait times for new representatives. Bayometric’s Live Scan platform significantly reduces processing times—often delivering results within days rather than weeks. That’s a game-changer in an industry where speed and accuracy matter.
The same holds true for funding portals and financial advisors. Whether filing Form U4, going through annual renewals, or onboarding new team members, firms using Bayometric’s certified software benefit from real-time validation, streamlined documentation, and a seamless experience from scan to submission.
Continuing a Tradition of Compliance Innovation
Bayometric has long been recognized for its robust identity verification solutions across sectors such as government, education, and healthcare. Its EFS certification by FINRA adds another layer to its credibility in the financial domain. In addition to this achievement, the company is also certified under the FBI’s Appendix F standards, underscoring its focus on quality and reliability.
As identity verification becomes a cornerstone of digital transformation in finance, solutions like Bayometric’s Live Scan software will be essential for staying compliant, secure, and competitive.
To learn more about how Bayometric can help your firm meet its regulatory obligations with confidence, visit Bayometric.
