System and methods for client identification and verification

1. An identity verification system for client identification and verification, said identity verification system comprising:

a memory device for storing data; and

a processor communicatively coupled to said memory device, said processor programmed to:

receive merchant identification data corresponding to a merchant, the merchant identification data including identification data relating to the identity of the merchant and a primary authorized user for the merchant;

generate a merchant profile from the merchant identification data for the merchant;

generate an activation code for authenticating the primary authorized user based on the merchant profile;

transmit the activation code to the primary authorized user;

receive, from the primary authorized user in response to the activation code, one or more biometrics of the authorized user;

validate the one or more biometrics of the authorized user; and

upon validation of the biometrics, activate a merchant account.

2. The identity verification system in accordance with claim 1 ,

said processor programmed to assign a merchant identifier to the merchant profile.

3. The identity verification system in accordance with claim 1 ,

said processor programmed to generate a user profile for the primary authorized user from the merchant identification data for the merchant.

4. The identity verification system in accordance with claim 1 ,

said processor programmed to vet the merchant based on the merchant identification data to verify the merchant.

5. The identity verification system in accordance with claim 4 ,

said vetting of the merchant includes said processor further programmed to screen the merchant for compliance with one or more of the following: restrictions, sanctions, reporting requirements, and other regulations imposed by the Office of Foreign Assets Control (OFAC) of the United States Treasury.

6. The identity verification system in accordance with claim 4 ,

said vetting of the merchant includes said processor further programmed to:

transmit the merchant profile to a third-party service for additional vetting of the merchant, the additional vetting including compiling verification and risk data corresponding to the merchant; and

receive the verification and risk data from the third-party service for supplementing the merchant profile.

7. The identity verification system in accordance with claim 1 ,

further comprising a biometrics module programmed to generate a biometric profile of the primary authorized user based on the one or more biometrics of the authorized user.

8. The identity verification system in accordance with claim 1 ,

said receiving merchant identification data includes said processor further programmed to receive the merchant identification data from a database containing merchant identification data corresponding to a plurality of merchants.

9. The identity verification system in accordance with claim 1 ,

said receiving merchant identification data includes said processor further programmed to receive the merchant identification data from the primary authorized user for the merchant via a client system coupled in communication to said processor.

10. A computer-implemented method for client identification and verification, the method performed by an identity verification and onboarding (IVO) module of a server system, said method comprising:

receiving merchant identification data corresponding to a merchant, the merchant identification data including identification data relating to the identity of the merchant and a primary authorized user for the merchant;

generating a merchant profile from the merchant identification data for the merchant;

generating an activation code for authenticating the primary authorized user based on the merchant profile;

transmitting the activation code to the primary authorized user;

receiving, from the primary authorized user in response to the activation code, one or more biometrics of the authorized user;

validating the one or more biometrics of the authorized user; and

upon validation of the biometrics, activating a merchant account via the IVO module.

11. The method in accordance with claim 10 , wherein receiving merchant identification data comprises:

receiving the merchant identification data from a database containing merchant identification data corresponding to a plurality of merchants.

12. The method in accordance with claim 10 , wherein

receiving merchant identification data comprises:

receiving the merchant identification data from the primary authorized user for the merchant via a client system coupled in communication to said processor.

13. The method in accordance with claim 10 , further comprising assigning a merchant identifier to the merchant profile.

14. The method in accordance with claim 10 , further comprising generating a user profile for the primary authorized user from the merchant identification data for the merchant.

15. The method in accordance with claim 10 , further comprising one or more of the following:

screening the merchant for compliance with one or more of the following: restrictions, sanctions, reporting requirements, and other regulations imposed by the Office of Foreign Assets Control (OFAC) of the United States Treasury; and

transmitting the merchant profile to a third-party service for vetting of the merchant, said vetting comprising compiling verification and risk data corresponding to the merchant.

16. The method in accordance with claim 15 , further comprising:

receiving the verification and risk data from the third-party service; and

supplementing the merchant profile with the verification and risk data.

17. The method in accordance with claim 10 , further comprising generating a biometric profile of the primary authorized user based on the one or more biometrics of the authorized user.

18. One or more non-transitory computer-readable storage media having computer-executable instructions embodied thereon, wherein when executed by at least one processor, the computer-executable instructions cause the processor to:

receive merchant identification data corresponding to a merchant, the merchant identification data including identification data relating to the identity of the merchant and a primary authorized user for the merchant;

generate a merchant profile from the merchant identification data for the merchant;

generate an activation code for authenticating the primary authorized user based on the merchant profile;

transmit the activation code to the primary authorized user;

receive, from the primary authorized user in response to the authentication code, one or more biometrics of the authorized user;

validate the one or more biometrics of the authorized user; and

upon validation of the biometrics, activate a merchant account.

19. The computer-readable storage media in accordance with claim 18 , wherein the computer-executable instructions further cause the processor to:

generate a user profile for the primary authorized user from the merchant identification data for the merchant.

20. The computer-readable storage media in accordance with claim 18 , wherein the computer-executable instructions further cause the processor to:

screen the merchant for compliance with one or more of the following: restrictions, sanctions, reporting requirements, and other regulations imposed by the Office of Foreign Assets Control (OFAC) of the United States Treasury;

transmit the merchant profile to a third-party service for vetting of the merchant, said vetting comprising compiling verification and risk data corresponding to the merchant;

receive the verification and risk data from the third-party service; and

supplement the merchant profile with the verification and risk data, and compliance screening data.