The IDV services’ integration is set to not only secure the app but also enable the company to meet global know-your-customer (KYC) and anti-money laundering (AML) regulations. As per details provided in the press release, the collaboration’s focus is that of meeting all regulations for AML, KYC, and KYB (know-your-business) whilst also avoiding financial crime.
Following research and development in building the company’s vision, CleverDo’s payment technology platform was established in 2020. The organisation’s aim is that of eliminating all obstacles within the fintech market through its mobile application as well as the chances of being attacked by criminals, which led to choosing Shufti Pro as its partner in strengthening IDV processes.
A global IDV platform, Shufti Pro provides AI-powered KYC and AML solutions, with its services having increased customisability, a 99.3% accuracy, as well as a worldwide reach. Following this collaboration, CleverDo is set to be enabled to prevent both identity theft and financial fraud in a simple manner.
An identity verification service provider, Shufti Pro offers KYC, KYB, KYI, AML, and OCR solutions aiming to protect the fintech environment from fraudulent activity. The company provides a multitude of IDV products and solutions and has the ability to verify more than 10,000 documents in 150 languages, serving customers in over 230 countries and territories.
Throughout 2022, the company made public a multitude of developments, with the most recent one marking the February launch of its risk assessment and eIDV solutions. The risk assessment solution helps businesses identify risks associated with their customer base and make informed decisions by evaluating customer risk factors through custom questionnaires and fraud prevention data points, whereas eIDV is the process of verifying customers through a government-issued unique identifier number.
Earlier in the same month, it announced a partnership with Italy-based transactions facilitator in the used vehicles market Owny to assist the company in helping its customers avoid transactional risks.
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