Platform Process & Verification Documentation
This document outlines the end-to-end process for how SettlePlace™ verifies users, authenticates assets, cross-references documentation, and creates a trusted, legally-linked chain between verified identities and listed assets.
1. High-Level Platform Flowchart
The diagram below shows the full SettlePlace™ lifecycle — from user registration through to secure settlement — and where verification occurs at each stage.
User Registers
User creates an account with email, full name, and password. Basic profile is created.
Identity Verification (runs in parallel)
ID Verification
Government-issued photo ID uploaded. AI + Stripe Identity verifies liveness, document authenticity, and name match.
Business Verification (optional)
ABN lookup, business name verification, director cross-check via ASIC. Enables business badge.
Social / Phone Verification
Mobile number OTP, optional social media profile linking for additional trust signals.
Verified User Profile Created
A trust score is calculated. Verification badges are applied. User is now eligible to list assets and make offers.
Asset Lifecycle
Seller Lists Asset
Seller creates listing with details, photos, VIN/HIN/serial number, condition declaration, and known faults.
Asset Verification Checks
PPSR/REVs, AMSA, CASA, or Equipment Registry check run against identifier. Stolen, encumbrance, write-off status verified.
Compliance Check
AI compliance engine cross-references listing details against declared specs, category rules, and regulatory requirements.
Verified User ↔ Asset Linkage
The verified seller identity is cryptographically linked to the asset listing. The listing carries the seller's verification status.
Offer & Negotiation
Verified buyers submit offers. Both buyer and seller identities are confirmed before negotiation proceeds.
Contract Generation
AI-generated contract from template. Both parties sign digitally with full audit trail. All signatories verified.
Payment & Settlement
Funds held in secure payment. Released only when all conditions are met, documents verified, and both parties confirm.
Transaction Complete
Ownership transfer documented. AML audit log updated. Both parties receive invoices. Reviews enabled.
2. User Verification Process
Stage 1 — Basic Registration
- Email address collected and confirmed
- Full legal name captured
- Profile completeness score calculated
- Account created with "unverified" status
Stage 2 — Government ID Verification
- User uploads photo of government-issued ID (passport, driver's licence)
- Liveness check performed via Stripe Identity (face match to ID photo)
- Document authenticity validated (MRZ, holograms, expiry)
- Name on ID cross-referenced with registered account name
- Verification result stored in encrypted AML audit log
Stage 3 — Business Verification (Optional)
- ABN entered and validated against ABN Lookup API
- Business name cross-referenced with ASIC register
- Director names verified against account holder
- GST registration status confirmed
- Business verification badge applied to profile
Stage 4 — Trust Score Assignment
- ID verified: +40 points
- Business verified: +20 points
- Phone verified: +10 points
- Social media linked: +10 points
- Completed transactions: +5 points each
- Positive reviews: weighted average applied
- Trust score displayed publicly on all listings and offers
AML Compliance Gate
For transactions exceeding AUD $10,000, both buyer and seller must complete enhanced identity verification before funds can be held in payment. This is a legal requirement under Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). All verification events are logged with timestamp, IP address, and user agent for audit purposes.
3. Asset Verification & Cross-Referencing
Every asset listed on SettlePlace™ is subject to multiple layers of verification. The process differs by asset category and uses the appropriate Australian government registry or accredited body.
Vehicles (Car, Truck, Motorbike, Caravan)
- • PPSR — Personal Property Securities Register (finance/liens)
- • REVs / State Equivalent — stolen check, write-off history
- • VIN decoded for make/model/year match
- • Odometer history cross-referenced
- • Outstanding recalls checked
- • RWC / Roadworthy Certificate status
Marine Vessels (Boats)
- • AMSA Marine Safety Registry — HIN lookup
- • Vessel registration and ownership verification
- • Safety equipment status
- • AMSA certification for commercial vessels
- • Marine survey reports (AIMS-accredited surveyors)
- • Vessel transfer documentation (AMSA Form 815)
Aircraft (Aeroplane, Helicopter)
- • CASA Aircraft Register — registration lookup (VH-XXX)
- • Certificate of Airworthiness status
- • Maintenance Release verification
- • Total airframe hours recorded
- • Engine/rotor hours cross-checked
- • Damage history declaration
Heavy Machinery & Farming Equipment
- • Serial number lookup via Equipment Registry
- • PPSR financial interests check
- • Manufacturer recall check
- • Service history documentation
- • Hours meter reading cross-reference
AI Listing Integrity Check
- • Description analysed for suspicious claims
- • Price compared to market valuation range
- • Image analysis for stock photo detection
- • Cross-reference against other active listings
- • Duplicate listing detection
- • Fraud risk score assigned
Compliance Risk Assessment
- • Risk level: Low / Medium / High / Critical
- • Compliance score 0–100 calculated
- • Blocking issues prevent listing from going live
- • Quick-fix recommendations provided to seller
- • Next compliance check date scheduled
4. Verified User ↔ Asset Linkage
SettlePlace™ creates a traceable, tamper-evident chain linking every asset listing to the verified identity of its owner(s). This linkage is established at listing creation and updated at every ownership event.
The Linkage Chain
Joint Ownership Support
- Multiple co-owners can be listed on a single asset
- Each joint seller must independently verify their identity
- Ownership percentage allocated per party
- All joint sellers must sign the contract before it is executed
- Payout percentage tracked per co-owner at settlement
Ownership Transfer at Settlement
- Previous owner record appended to asset history
- New owner's verified identity linked to asset
- Government transfer forms auto-prefilled with verified data
- Transfer recorded in asset history timeline
- AML audit log updated with new ownership event
5. Document Verification & Cross-Referencing
SettlePlace™ uses AI-powered document processing to extract, verify, and cross-reference all uploaded documentation against the asset record and verified user data.
Documents Processed
- Government photo ID (passport, driver's licence)
- Vehicle/vessel/aircraft registration certificates
- AMSA certifications for commercial vessels
- CASA airworthiness certificates
- Roadworthy/safety certificates
- Inspection reports from accredited inspectors
- Service history records
- Finance settlement letters
- Transfer of ownership forms
AI Cross-Referencing Checks
- Seller name on document matches verified account name
- VIN/HIN/Serial on document matches listing specification
- Asset details (make/model/year) consistent across all documents
- Expiry dates checked (registration, airworthiness, safety certificates)
- Document not expired or expired within threshold
- No signs of digital alteration or tampering (AI analysis)
- Confidence score 0–1 assigned to each extraction
Automated Document Processing Pipeline
- Document uploaded by seller or buyer
- AI extracts structured data (buyer/seller names, asset details, dates, prices)
- Extracted data cross-referenced against existing asset and user records
- Document categorised (contract, inspection report, title, insurance, etc.)
- AI confidence score assigned — low confidence triggers manual review flag
- Verified document stored in encrypted contract document repository
- Document linked to contract ID and asset ID in audit trail
6. Payment & Secure Settlement
Payment Trigger Conditions
- Contract fully signed by all parties
- All required documents uploaded and verified
- AML checks passed for transaction value
- Both buyer and seller identity confirmed
Funds Release Conditions
- All contract conditions marked as satisfied
- Inspection completed (if required)
- Finance approval received (if subject to finance)
- Both parties confirm possession transferred
- Settlement authorisation approved
Audit Trail Captured
- Every event timestamped and logged
- IP address and device type recorded
- All signatures stored with audit metadata
- Payment transaction IDs linked
- AML verification log maintained for 7 years
7. Verification Summary Reference
| What is Verified | Method | Authority / Registry | Linked To |
|---|---|---|---|
| User Identity | Stripe Identity + Liveness check | Government ID databases | User profile → created_by on all records |
| Business Identity | ABN Lookup + ASIC register | ABR / ASIC | User profile → business_verified badge |
| Vehicle (VIN) | PPSR + State REVs equivalent | PPSR / NSW/VIC/QLD/WA/SA RMS | Asset.specifications.vin |
| Marine Vessel (HIN) | AMSA Registry lookup | AMSA | Asset.specifications.hin |
| Aircraft | CASA Register | CASA | Asset.aircraft_specifications.registration_number |
| Equipment | Equipment Registry / PPSR | Equipment Registry | Asset.specifications.serial_number |
| Documents | AI extraction + cross-reference | Internal AI engine | ContractDocument → Contract → Asset |
| Signatures | Digital signature with audit trail | Internal e-signature service | SignatureAuditTrail → Contract |
| Payments / AML | Stripe + AML compliance checks | AUSTRAC guidelines | AMLVerificationLog → Contract → Payment |
© 2026 SettlePlace™. All rights reserved.