The partnership will bring together deep skills and expertise in customer onboarding compliance processes and fraud prevention from FrankieOne, together with insights into a customer’s financial history from Basiq.
When banks, fintechs, and financial institutions onboard customers, identifying who the individual is and understanding their financial behaviours are components in delivering customer experience and building customer relationship. A seamless process in performing these two tasks deliver successful acquisition and retention, according to the press release.
By bringing together the capabilities of Basiq and FrankieOne, businesses can perform the necessary KYC/AML checks, verify bank account ownership, and obtain a complete financial view of the consumer through a single API. Basiq recently announced the latest Basiq 3.0 platform upgrade that enables fintechs to access Consumer Data Right (CDR) and Open Banking data via web capture for financial institutions that are not yet part of Open Banking.
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