Sphonic company officials stated that given the importance placed on orchestration technology in the overall area of compliance, and the regulatory requirements that continue to drive the agenda when it comes to identity and fraud, they partnered with an identity verification provider that could meet the varying obligations that exist right across Europe.
Sphonic recently launched its real-time Transactional Monitoring System, which allows fintechs, banks and gaming operators to monitor fraud, AML, and affordability data in a single integrated platform. Its suite of RegTech, including KYC, KYB and Fraud and Risk Management also helps compliance teams to build a digital picture of each customer in order to fast-track customer onboarding.
IDnow company officials added that impersonation and identity fraud is on an upward trend, making it more important than ever for businesses to ensure they are compliant beyond simply box ticking. IDnow’s identity verification technology will provide Sphonic customers with the option of imposing additional verification methods to ensure the person is who they say they are.
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