Trading education platform FTMO has deployed iDenfy's Know Your Business verification technology.
The prop-trading simulation company has integrated the regtech provider's KYB solution to automate the verification of corporate clients accessing its platform. The implementation addresses FTMO's operational challenges as it scales its international presence, particularly in onboarding users under business entities across multiple jurisdictions.
FTMO manages over 240,000 accounts worldwide and operates a simulated trading environment using real market data. While not subject to traditional financial services regulation, the company has adopted automated verification tools as a form of self-regulation to manage risk and align with compliance best practices.
Corporate verification at scale
The KYB solution verifies business entities by cross-referencing corporate documents, including certificates of incorporation, register extracts, shareholder information, and beneficial ownership data. The platform connects to more than 180 company registrations across 120+ countries, providing FTMO with real-time access to business data for global entity verification.
iDenfy's system includes AML screening and ongoing monitoring functions that scan customers against sanctions lists, Politically Exposed Persons databases, and global watchlists. The automated workflows eliminate manual review processes for standard verifications, allowing FTMO's team to focus on higher-risk cases requiring additional investigation.
According to FTMO, the implementation has reduced manual processing time by at least 40 hours per week whilst achieving an onboarding success rate of up to 98%. The platform's configurable procedures enable FTMO to customise verification flows according to internal requirements and country-specific regulations.
iDenfy is a US-based RegTech provider specialising in identity verification and fraud prevention solutions. The company offers KYB, KYC, and AML compliance tools for organisations across multiple sectors.
