This collaboration looks to improve the customer experience and enable a simplified blockchain-based transaction experience for Momint clients, while simultaneously fulfilling regulatory requirements to prevent financial crimes.
Following the increase in blockchain popularity, the finance sector is experiencing expedited transformation. In order to be able to combat crimes such as money laundering and fraud, businesses have a requirement for stringent rules for regulatory compliance. Following the partnership with Shufti Pro, Momint is enabled to leverage advanced IDV solutions to improve KYC and AML compliance together with the client experience.
Ahren Posthumus, CEO of Momint said that the company is looking forward to collaborating with Shufti Pro, stating that by integrating Shufti Pro’s AI-powered identity technology into its platform, Momint is enabled to improve the security and compliance of its blockchain-based transactions. The official added that the partnership will help ensure that only verified users are provided with access to the platform’s services, stating that they believe Shufti Pro’s technology will help them maintain their commitment towards transparency, security, and privacy, helping them better serve users and achieve their mission of creating an increasingly sustainable and equitable world.
As a blockchain company, Momint has a focus on leveraging Web3 technology to put real assets and legal contracts on the blockchain. The company provides people with control over their digital assets and promotes the use of renewable energy sources, looking to make the world increasingly sustainable and equitable by leveraging the power of blockchain technology to have solar power’s accessibility democratised in South Africa.
Per the press release, Shufti Pro’s AI-based IDV solutions can benefit fintech, regtech, and banking, together with other industries, with the company’s global presence and 99% verification accuracy enabling it to provide businesses, no matter the size, with identity verification solutions. Shufti Pro provides KYC, KYB, KYI, AML, biometric verification, and OCR solutions looking to accelerate trust worldwide. Having launched 17 complimentary IDV products and solutions since its 2017 inception, the company can verify more than 9000 ID documents in over 150 languages in an automatic and secure manner, serving customers in over 230 countries and territories.
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