Singapore-based Fincy partners with Accuity

Wednesday 11 November 2020 14:41 CET | News

Singapore-based app for crypto and fiat currencies transactions Fincy has partnered with global payment and compliance company Accuity, according to the official press release. 

The terms of the agreement specify that Fincy will get access to a number of Accuity’s compliance and security services as it accelerates its growth across Southeast Asia. Establishing a partnership with Accuity helps Fincy’s commitment to security and compliance, particularly as it looks to expand its suite of services aimed at small-and medium-sized enterprises and the general public. 

With immediate effect, Fincy will integrate Accuity’s account screening service as part of its Know Your Customer (KYC) process. All users and merchants must pass KYC in order to transact within the Fincy app. Sound KYC practices significantly reduce the risk of illegal activity and improve preparation for regulatory scrutiny. Moving forward, Fincy will look to integrate with Accuity’s API to leverage AI for automated screening and transaction ledgering on distributed ledger technology.

Fincy plans for user adoption centre on cryptocurrency initiatives. In Singapore, where the company is headquartered, these initiatives include a crypto payment gateway and mobile payment provider, a cloud-based custody wallet, a token-based loyalty program for SMEs, and a hosted exchange service. These services will integrate with Fincy’s existing digital fiat offerings.

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Keywords: Singapore, Fincy, Accuity, partnership, crypto, Fiat, currencies, digital, payment, compliance, Southeast Asia, SMEs, KYC, API, AI, DLT, crypto payment gateway, mobile payment provider, custody wallet, Token
Categories: DeFi & Crypto & Web3
Countries: Singapore
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DeFi & Crypto & Web3