News

Cape partners FrankieOne

Tuesday 23 November 2021 10:26 CET | News

Cape and FrankieOne have announced a strategic partnership to help Australia’s SME businesses.

According to the official press release, the partnership will create a more seamless onboarding process for mandatory Know Your Customer (KYC) and anti-money laundering (AML) checks, making it easier for small businesses to open a Cape account.

Cape, as a fintech providing a banking service in the form of a digital-first challenger corporate card, must fulfill regulatory requirements through KYC checks. This includes identifying people that have been explicitly banned from participating in the financial system, ensuring Cape products are not used to circumvent sanctions lists, as well as preventing fraudulent accounts from being created, and stopping criminals from using the fintech to launder money.

The key result of the partnership is that users can be verified under five minutes using image capture to assist customers through the identity verification process.


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Keywords: partnership, KYC, AML, SMEs, fintech, regulation
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Australia
This article is part of category

Securing Transactions