Following this collaboration, Funanga will leverage Shufty Pro’s services to strengthen its identity verification process in order to prevent online threads and to meet KYC, KYB, and AML regulations across all its international markets.
As ecommerce and digital services continue to grow, as well does the risk of customers becoming victims of fraud. The aim of both companies is to protect and secure users’ information and data while combating online threads such as fraud.
UK-based IDV platform that offers AI-based KYC and AML solutions to multiple companies and businesses across the world, Shufti Pro had multiple partnerships and product launches in the last few months. The organisation focused on multiple geographies and industry areas while prioritising the delivery of its products.
At the beginning of February 2023, Shufti Pro announced that its risk assessment and eIDV solutions went live in order to help businesses tackle identity fraud and meet KYC and AML regulations.
The company prioritised the necessity of meeting an increasingly diverse range of regulatory compliance requirements for its clients. The launch also focused on providing solutions that address the changing needs and preferences of global users, as well as the wider general industry. The new products include a Risk Assessment Solution (built to help organisations identify risks associated with their client base across the world) and an eIDV Service (meaning a process of verifying customers through a government-issued unique identifier number).
Shufti Pro’s latest partnership preceding the collaboration with Funanga was also announced in February. The identification verification platform signed a strategic deal with client lifecycle management service KYP Portal, aiming to meet its anti-money laundering (AML) requirements.
Through this deal, Shufti Pro was enabled to collect information relevant to entities and applicants that were being assessed to help its users become more efficient during the digital onboarding process. In addition, the company was also helped to meet its AML requirements.
Earlier in the same month, mobile payment app CleverDo collaborated with Shufti Pro to secure its application using the latter’s identity verification (IDV) services. The IDV services’ incorporation was set to secure the application, as well as to enable the company to meet global know-your-customer (KYC), and anti-money laundering (AML) regulations. The focus was on meeting all regulations and requirements of AML, KYC, and KYB (know-your-business) while avoiding financial crime and other threads.
With these solutions, CleverDo was given the capability to prevent both identity theft and financial fraud in a simple, safe, and efficient way.
For more information about Shufti Pro, please check out their detailed profile in our dedicated, industry-specific Company Database.
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