The partnership aims to enhance Signicat’s offerings in APAC by enabling companies to navigate the region’s regulatory frameworks more effectively. AsiaVerify becomes the first APAC-focused partner in Signicat’s global network of data providers. By leveraging AsiaVerify’s access to real-time, official data sources in key markets such as China and Singapore, the collaboration equips Signicat’s clients to verify individual and corporate information securely and efficiently.
The agreement is designed to address regulatory complexities in the APAC region, simplifying market entry and operational compliance for international businesses. AsiaVerify’s data solutions support Know Your Customer (KYC), Know Your Business (KYB), and Ultimate Beneficial Ownership (UBO) identification processes, which are essential for meeting local and cross-border compliance standards.
According to officials from Signicat, the partnership strengthens the company's ability to offer globally compliant identity solutions with local relevance. They highlighted that the collaboration improves Signicat’s capabilities in APAC by providing localised data to support clients’ expansion while maintaining compliance with both regional and global standards.
Representatives from AsiaVerify emphasised the significance of addressing APAC’s regulatory challenges. They noted that AsiaVerify’s tools align with Signicat’s commitment to tackling industry challenges and facilitating growth in a region with diverse compliance requirements.
In May 2024, Signicat launched a report on the growing threat of AI-driven identity fraud, in partnership with Consult Hyperion. The research revealed that fraud prevention decision-makers across the region of Europe were experiencing more AI-driven identity fraud, while also expecting it to grow even more. According to the official press release, companies were unprepared to tackle it and haven’t been able to implement new measures to prevent it.
The company asked banks, insurance providers, fintechs, and payment providers about their experience on how AI is changing fraud, and the research included multiple fraud decision-makers across Belgium, Germany, the Netherlands, Norway, Spain, Sweden, and the UK.
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