The Mexican fintech industry is operating in a highly regulated environment that requires strict compliance to local KYC/AML regulations. For this reason, automatic KYC and digital onboarding processes are critical for challenger banks opening in Mexico.
The partnership combines Fondeadora's digital banking app with AU10TIX's automating ID authentication and KYC flows for the financial sector.
Fondeadora is using AU10TIX's automated solution for Mexican identity document verification, liveness detection, and face biometric authentication to enable identity verification results in a short period of time during customer onboarding and account log-ins. The Mexico-based challenger bank also opted into INSTINCT, AU10TIX's collaborative platform for synthetic fraud detection.
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