It expands Caf’s flexible, anywhere integration to support global businesses and enable them to verify and onboard customers, businesses, and employees in a safe manner;
It delivers data coverage with availability in over 200 countries and territories;
It helps enhance the existing product suite of solutions for user onboarding, document verification, KYC, KYB, identity validation, and account takeover prevention;
It builds on the company’s iBeta Level 1 certification in order to improve biometrics detection and ensure ‘liveness’ of every user;
And it provides drag and drop, no-code workflow builder and flexible orchestration engine.
In a world where fraud is increasingly commonplace and becoming more sophisticated, these capabilities are thought to be of high importance.
As fraud organisations are global and they go wherever the money is and the softest targets are, ecommerce companies both in Latin America and globally are under considerable pressure to ensure that they prevent digital fraud and protect their customers.
Based on information provided in the announcement, businesses can no longer rely on know your customer (KYC) and know your business (KYB) standards alone to create improved onboarding experiences for their customers, and simultaneously manage risk and compliance in an effective manner. Instead, they have a need for knowing everything about each user that interacts with their business on every digital platform, whilst also having data security maintained and user privacy protected. In order to do so effectively, businesses should rethink their processes and have new technologies implemented.
Following the movement towards the Web 3.0 world and beyond, company officials believe that global, anywhere commerce and banking are set to become the norm, which means that businesses will have to gain extensive knowledge about their customers in order to identify risk properly and root out fraud. With the launch of their global KYE platform, Caf aims to do just that, while simultaneously maintaining a quick and simple verification and authentication experience for good users.
As per details provided in the announcement, the news of the platform launch follows a year where the company had doubled its revenues despite a difficult, global economic environment.
Throughout 2022, the company continued its global expansion, opening offices in major, global technology centres of the likes of the US, the UK, and Canada, and ended the year having had a 250% revenue increase, 80% customers’ increase and a doubling in staff. In total, the company monitored and analysed over 14 million transactions, having prevented USD 79 million in fraud throughout the year.
Furthermore, the company raised a Series A founding round in July 2022, which was advised to be reinvested in growth, as per an official’s statement.
Founded in August 2019, Caf provides identity verification and digital onboarding solutions looking to make customer, partner, and supplier registrations increasingly fast, easy, and secure.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now