In a major win for biometric identity technology in finance, Bayometric has secured Electronic Fingerprint Submission (EFS) certification from the Financial Industry Regulatory Authority (FINRA) for its Live Scan software. This certification is a pivotal development for broker-dealers, financial advisors, and funding portals that require efficient, secure, and compliant fingerprint submission capabilities.
With the rapid evolution of compliance requirements in the securities industry, Bayometric’s certification ensures its software meets FINRA’s high standards for accuracy, encryption, and seamless integration. It places the company among a select few vendors nationwide approved to submit fingerprints electronically, reducing administrative burdens and accelerating onboarding timelines.
Modernizing Fingerprint Submission
Traditionally, fingerprint background checks in the financial industry involved manual processes, physical forms, and long delays. These outdated methods introduced unnecessary friction into the onboarding and licensing process—something modern firms can no longer afford.
Bayometric’s certified Live Scan software eliminates those bottlenecks. The solution allows users to electronically capture and submit fingerprints directly to FINRA’s Central Registration Depository (CRD) system, helping firms avoid rejections caused by formatting errors or poor-quality scans. The result is faster processing, improved data quality, and a significant boost to compliance readiness.
Built for Precision and Speed
Compliance timelines are tight. FINRA requires fingerprints to be submitted within specific timeframes, and delays can prevent new hires from becoming fully registered. Bayometric’s EFS-certified solution ensures that fingerprint data is submitted quickly and accurately—often within just a few days—helping firms move forward without unnecessary delays.
Additionally, the software includes built-in validation and security protocols that meet or exceed both FINRA and FBI standards. It streamlines the fingerprinting process while maintaining top-tier data security, giving HR and compliance teams peace of mind.
Benefits for Financial Services Firms
Whether it’s a broker-dealer filing a Form U4, a funding portal registering a new rep, or a firm renewing employee credentials, Bayometric’s Live Scan software removes many of the common pain points associated with fingerprinting.
The system’s intuitive design reduces the need for extensive training and minimizes user errors. Automated features flag potential issues before submission, helping firms stay within compliance guidelines and avoiding costly do-overs. This is especially valuable for organizations processing high volumes of applications.
Positioned for Long-Term Impact
Bayometric’s achievement is more than a technical certification—it’s part of a broader effort to transform how identity verification is handled in financial environments. Already certified by the FBI under Appendix F standards, Bayometric is advancing scalable solutions that are future-ready for both public and private sector clients.
As the finance industry continues to prioritize efficiency, accuracy, and security, the demand for technology like Bayometric’s is only expected to grow. Their FINRA-certified solution equips firms with the tools they need to meet evolving regulations without sacrificing productivity.
For firms ready to upgrade their fingerprinting process and reduce compliance friction, Bayometric offers a certified, proven path forward.
