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Shufti Pro teams up with Mascap

Monday 25 September 2023 11:35 CET | News

Shufti Pro, an ID verification service provider, has partnered with Mascap to equip the latter with a secure customer onboarding process, minimising identity fraud from the financial sector.

This partnership will integrate Shufti Pro’s KYC/AML solutions into Mascap’s platform. The solution will help authenticate Mascap clients through a variety of checks, including risk assessment, document and biometric verification, AML screening, and other various KYC checks. This is expected to enable the company to align with global compliance regulations and foster trust among investors.

Furthermore, while the conventional verification method could be time-consuming and prone to human error, Shufti Pro’s solutions are automated and aim to improve the efficiency of the process from weeks or days into seconds. This could help businesses implement fast and authentic verification measures. 

Shufti Pro, an ID verification service provider, has partnered with Mascap to equip the latter with a secure customer onboarding process, minimising identity fraud from the financial sector.

Fighting against financial fraud 

Mascap provides all kinds of investment management solutions to clients in the UAE. The company enables customers to invest in the country’s Web3, real estate, healthcare, and forex industries online from anywhere in the world. However, the press release highlights that operating an asset management company in this era of online fraud could be challenging.

With the evolution of the digital landscape, it has become increasingly simpler than ever for fraudsters to commit ID fraud whilst maintaining anonymity. An identity scam in this field is able to cause financial loss to both customers and businesses. Therefore, Shufti Pro states that it understands these challenges and offers an online fraud solution. Through KYC/AML technology and AI-driven identity verification solutions, the company seeks to help businesses strengthen the fight against ID fraud and financial crime within the finance industry. 

About Shufti Pro 

Shufti Pro is an IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions worldwide. Based in the UK, it has six international offices and has launched 17 complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify ID documents in 150 languages, Shufti Pro serves customers in more than 230 countries and territories. 

About Mascap 

Mascap Group is an investment management company, with the mission to help clients consolidate and grow their wealth with a dynamic approach, effectively and in a sustainable manner. The company set out to develop an approach that embraced the new emergent paradigms, leveraging new opportunities afforded by technology in an always-on, hyper-accessible global system of markets. 

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Keywords: identity verification, identity fraud, digital identity, partnership, fraud detection, fraud prevention
Categories: Fraud & Financial Crime
Companies: Mascap, Shufti Pro
Countries: World
This article is part of category

Fraud & Financial Crime

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Mascap

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Shufti Pro

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