Shufti Pro rolls out risk assessment and eIDV solutions

Thursday 9 February 2023 14:39 CET | News

UK-based Shufti Pro has augmented customer verification with the launch of risk assessment and eIDV services, helping tackle identity fraud and meet KYC/AML regulations.


According to the company, as a global IDV service provider, Shufti Pro continuously innovates to meet an increasingly diverse range of regulatory compliance requirements for their customers. They are dedicated to providing solutions that address the changing needs of their global clientele and the wider general market – both at the point of onboarding and beyond, and are pleased to share that risk assessment and eIDV services do just that.

Shufti Pro augments customer verification with the roll out of risk assessment and eIDV services, helping fight identity fraud and meet KYC/AML regulations.

Details about the newly launched solutions

Risk Assessment Solution - is the purposely built tool to help businesses identify risks associated with their globally diverse client base. Shufti Pro’s custom-built risk-scoring solution adapts to the interests of organisations whilst addressing all risk factors to safeguard businesses from financial crimes, reputational damages, and regulatory sanctions. It ensures enterprises make informed decisions by evaluating customer risk factors through custom questionnaires and fraud prevention data points, further examined by the Shufti Pro’s risk intelligence profiling engines (a database of over 10 billion ID elements).

eIDV Service - eIDV is the process of verifying customers through a government-issued unique identifier number. It works like the KYC process, asides from the requirement of paper-based document uploads provided by the customer. Shufti Pro’s eIDV matches the clients’ data, such as name, DoB, and SSN, against multiple databases and provides enhanced security. The digitisation of the modern world shows people to be moving away from paper IDs, towards completely electronic forms due to enhanced privacy, fraud prevention, and the elevation of user experience. Such changes will ensure customer onboarding will be easier, more accurate, cater to global customers, and effectively reduce client abandonment rates.

Shufti Pro recently introduced an array of new features, such as SSO implementation, duplicate account verification, and more to strengthen the suite of its IDV products. In 2022, the company secured USD 20 million in Series A funding to accelerate its international expansion, enhance its IDV solutions, and expand its compliance suite.

What does Shufti Pro do?

Shufti Pro is an IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions, and accelerating trust worldwide. It has six international offices and has launched a suite of 17 complimentary IDV products and solutions. With the ability to automatically verify 9000+ ID documents in 150+ languages, Shufti Pro serves customers in 230+ countries and territories.

For more information about Shufti Pro, please check out the company profile in The Paypers Company Database.

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Keywords: KYC, identity verification, AML, regulation, fraud prevention, digital onboarding, digitalisation, risk management
Categories: Fraud & Financial Crime
Companies: Shufti Pro
Countries: World
This article is part of category

Fraud & Financial Crime

Shufti Pro

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