Following the release of the white paper, Shufti Pro aimed to offer insights on how customers and companies can develop and improve brand loyalty and client retention by implementing secure, fast, and compliant KYC and AML services in a regulation-heavy environment.
According to the press release, approximately 90% of the Middle East and North Africa foreign residents bought products and solutions online. Moreover, the white paper unveiled how optimising and improving the overall onboarding flow will offer the region the possibility to boost profits by 25% to 95% and to reduce user churn.
In addition to this information, the Financial Intelligence Unit of UAE reported that over USD 625 million was confiscated from money laundering strategies that intended to support fraud and other online threats.
Shufti Pro published the white paper on the iGaming landscape while also attaining a SOC 2 Type 2 Certification, which focused on providing its client base and partners with a secure environment to work with, as well as simplifying compliance procedures in the region’s market.
AI-powered identity verification solution provider which offers KYC, KYB, AML, and KYI services to global financial sector organisations, Shufti Pro had multiple partnerships and collaborations in the last couple of months, covering different geographic areas around the world.
In June 2023, online property agent that facilitates the buying and selling processes of car parking spots Carparkhub announced its partnership with Shufti Pro to improve the overall car parking industry by offering a simple, secure, and efficient transaction experience for its customers and users.
Earlier in May 2023, the Dubai-based gaming platform R1SE collaborated with Shufti Pro to provide clients with secure gaming solutions and tools. R1SE represents an online driving simulation platform addressed and designed for players that are at least 16 years old. The platform also enabled gamers to practice and improve their ability while being allowed to participate in Assetto Corsac tournaments.
After incorporating Shufti Pro’s AI-powered identity verification services, R1SE focused on offering customers a secure and seamless gaming service, in addition to optimising the overall onboarding journey for gamers.
Blockchain tech company Momint announced its strategic deal with Shufti Pro in May 2023 as well, in order to improve its Know Your Custer (KYC) and anti-money laundering (AML) processes. The collaboration aimed to enhance the overall client experience and to allow a simplified blockchain-based transaction experience for Momint users while fulfilling the regulatory requirements to prevent and stop financial crimes. For more information about Shufti Pro, please check out their detailed profile in our dedicated, industry-specific Company Database.
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