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FTS.Money, Facephi to deliver IDV and KYC solutions to Asia and the Middle East

Thursday 19 September 2024 08:48 CET | News

Hong Kong-based fintech FTS.Money has joined forces with Facephi to integrate the latter’s IDV and KYC solutions into its platform and allow it to expand its footprint. 

By teaming up, FTS.Money is set to support Facephi, a company providing digital identity verification solutions, in growing its reach by integrating its Identity Verification (IDV) and Know Your Customer (KYC) services into its platform. Through this, the company intends to deliver advanced features that focus on simplifying processes for a wider audience. In addition, FTS.Money’s worldwide financial infrastructure is set to be part of Facephi’s offering, equipping clients with the ability to adopt new financial services more flexibly and efficiently.

FTS.Money, Facephi to offer IDV and KYC solutions to Asia and the Middle East

On the other hand, Facephi plans to provide its customers with plug-and-play capabilities to conduct KYC/IDV checks leveraging the FTS.Money platform, which can lead to minimised costs and accelerated implementation times. Moreover, the partnership aims to allow FTS.Money and Facephi to augment and optimise the digital experience for clients by combining the latter’s technology with the former’s financial infrastructure, which can increase security and efficacy in global transactions.

FTS.Money and Facephi’s plans

Initially focusing on Pakistan, the Middle East, and the Asia-Pacific region, the collaboration between FTS.Money and Facephi works towards introducing digital identity verification technology to additional markets, with the move aiming to solidify FTS.Money’s position in financial infrastructure and digital identity solutions.

When commenting on the announcement, representatives from FTS.Money underlined that, by integrating Facephi’s technology into their company’s platform, the firm intends to offer optimised digital identity services that increase trust and security for users. At the same time, officials from Facephi mentioned that the agreement with FTS.Money advances their company’s commitment to global expansion and the development of accessible, secure digital identity verification services.

Latest news from Facephi

In recent years, Facephi has been centring its efforts on developing its capabilities and worldwide footprint, with the company entering several collaborations to support its objectives. For example, the partnership with FTS.Money comes shortly after Facephi announced that its solutions were available on Temenos Exchange. The move came as a response to businesses increasingly requiring secure and efficient KYC and Anti-Money Laundering (AML) processes in the face of digitisation and fraud threats. Also, besides making its solutions available on Temenos Exchange, Facephi was set to work with Temenos on a Proof of Concept (POC) project to ensure the optimal adoption of its solutions on Temenos Banking Cloud.

Furthermore, Facephi entered alliances with multiple other companies, including Mbank, Oracle, and Revelock, with them utilising its services to increase the security of their operations and safeguard customers from fraudulent attempts.

Source: Link


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Keywords: partnership, KYC, identity verification, digital identity, fraud prevention, expansion
Categories: Fraud & Financial Crime
Companies: FacePhi, FTS.Money
Countries: Asia, Middle East
This article is part of category

Fraud & Financial Crime

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FacePhi

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