The project is based on intelligence from Dow Jones Risk Solutions and is supported by Konexo, the regulatory and compliance division of Eversheds Sutherland. As per their agreement, the aim of Yoti and Synectics is to make financial services more accessible to a young and digitally-savvy market segment, as well as cut down cost and time required to verify identity and run real-time due-diligence checks.

The first step in rolling out the project involves contacting leading financial institutions in the UK interested in leveraging Yoti’s access to a large digital marketplace of customers. Endeavour is a shared e-KYC and customer acquisition platform for regulated financial services institutions that leverages Yoti’s digital identity platform for onboarding and provide a full real-time CDD assessment. Some of the benefits Endeavour can bring are regulatory effectiveness, access to pre-vetted accounts, reduced operational overheads, accelerated customer journey, cost efficiency, and ease of operational integration.