The Dual Process Method

Key Steps in Verifying Identity Through Dual Process Compliance Requirements

What is the Dual Process Method?

The dual process method ensures a robust approach to identity verification by requiring information from two independent and reliable sources in Canada. All documents must be original, unaltered, valid, and current. Reliance on a single source, such as the issuer of a document, is insufficient—even when all required information appears complete. Importantly, the client does not need to be physically present during the verification process.

To meet record-keeping requirements, Form NBCN-217: Alternative Identity Verification (04/17) must be used.

The list of acceptable documents provided in Table 2 is not exhaustive and may be updated to align with NBCN’s internal policies. Any changes will be communicated promptly to ensure compliance.

Key Methods for Identity Verification Compliance

For identity verification, you may utilize one of the following approaches:

1. Use one source to verify your client’s name and address (Category A) and a second source to verify their name and date of birth (Category B).

2. Use one source to verify your client’s name and address (Category A) and a second source to verify their name and confirm a financial account (Category C).

3. Use one source to verify your client’s name and date of birth (Category B) and a second source to verify their name and confirm a financial account (Category C).

Other Methods

Credit File

For this method to be valid, the credit file must have been active for a minimum of three years and can be accessed through either Equifax or TransUnion.

Agent or Mandatary

NBCN will conduct a thorough review of the designated domestic or foreign agent or mandatary. Please note that additional documentation and agreements may be required, and approval is not guaranteed and will depend on the NBCN assessment.

Dual Method Verification: Required Information

First Document Used

Select one document from the list below to verify the client’s name and address (Category A):

• Provincial Driver’s License
• CPP Statement
• Property Tax Statement
• Provincially Issued Vehicle Registration
• CRA Documents:
  • Notice of Assessment
  • Instalment Reminder
  • GST Refund Letter
• Utility Bill
• T4 Statement
• Investment Account Statement

Second Document Used

Select one document from either of the following lists:

1. To verify the client’s name and date of birth (Category B):

   • Any card or statement issued by a Canadian government body
   • CPP Statement of Contribution
   • Original Birth Certificate
   • Marriage Certificate
   • Divorce Documentation
   • Permanent Residence Card
   • Temporary Driver’s License (Non-Photo)
   • Referring to a credit file within the last 6 months
   • Insurance documents for home, auto, or life
   • Identification product from a Canadian credit bureau

2. To verify the client’s name and confirm a financial account (Category C):

   • Credit Card Statement
   • Bank Statement
   • Loan Account Statement
   • Identification product from a Canadian credit bureau

Verified By

Provide the name of the individual verifying the client’s identity using the Dual Verification Method. This individual must be one of the following Optimize representatives:

• Portfolio Manager
• Associate Portfolio Manager
• Wealth Planner
• Wealth Planner Assistant 

General Guidelines for Document Submission

• Ensure the uploaded documents are clear and legible.
• Documents must be dated within 6 months of the application submission date.
• The legal name, address, and date of birth on the ID must match the information inputted in the client’s KYC.