Fintech
ComplyCube and Signicat add features to strengthen fintech AML capabilities
The financial technology industry is seeing a wave of strategic collaborations and innovative solutions aimed at improving security and compliance. From strengthening Know Your Customer (KYC) and anti-money laundering (AML) processes to introducing advanced biometric identification capabilities, companies are making strides to safeguard their operations and customer transactions. ComplyCube and Signicat each have additional features that benefit regulated businesses, while Identomat announced two new customers and iDenfy revealed an acquired customer.
ComplyCube adds Trust Center to KYC and AML platform
ComplyCube launched a Trust Center to enhance its identity verification, KYC and AML platform and help customers navigate complex regulatory landscapes.
The company says compliance failures end up costing companies more than 2.7 times more than maintaining regulatory obligations, and those with robust compliance programs suffer 30% lower costs for security incidents.
The new Trust Center features a real-time compliance dashboard and resource hub with documents, certification information and regulatory guidance. It also offers incident reporting and tracking.
“Customers and partners can find answers to many data protection questions, view active controls and request due diligence documents,” says Joshua Dent, head of ComplyCube Business & Partnerships. “It’s great to see this platform live following our recent certifications, such as UK DIATF, ISO 9001, PAD Level 2 ISO 30107-3 and ISO 27001:2022 update.”
Signicat launches biometric selfie authentication
Biometric facial authentication is now an integral part Meaning‘s MobileID platform to improve mobile app security for financial and regulated services customers.
Signicat’s Face Authentication consists of 3D liveness checking and face matching and, according to the announcement, represents effective protection against photo fraud, deepfake videos and other spoofing.
Identity fraud powered by artificial intelligence it is a growing threat, accounting for more than 42% of total attacks, as Signicat’s recent report shows.
“As anti-fraud tactics evolve, our solutions must evolve as well,” says Simone Andersson, Signicat Product Manager for Mobile Identity. “This new feature is a testament to our commitment to staying ahead of the curve and ensuring our customers can operate securely in the digital landscape. Our MobileID solution is PSD2 compliant and meets all the requirements of regulated industries.”
NovaPay and WARD Ops each select Identomat
NovaPay, a provider of online and offline financial services in Ukraine, collaborated with Identomat to improve their KYC and AML processes. This collaboration aims to strengthen NovaPay’s ability to offer safe and efficient financial services.
Identomat’s AI-powered technology supports remote identity verification, ensuring compliance with regulatory requirements in over 200 countries and mitigating financial transaction risks. In just six months NovaPay and Identomat have already served almost a quarter of a million customers.
David Lomiashvili, CEO of Identomat, expresses enthusiasm for the partnership, underlining the company’s commitment to optimizing identity verification processes. Identomat has passed several security and compliance assessments, including iBeta level 2, ISO/IEC 30107-3 e ISO/IEC27001. Together, NovaPay and Identomat aim to set new standards in customer verification and fraud prevention in the Ukrainian financial sector.
WARD Ops, an IT outsourcing provider, announced a strategic partnership with Identomat to improve digital operations. WARD Ops offers services such as monitoring, incident management, QA, robotic process automation, software implementation and integrations.
Identomat provides AI-powered identity verification and KYC solutions to support secure and compliant operations. The partnership aims to improve security protocols and provide integrated solutions, representing a significant step forward in providing businesses with a seamless, secure and efficient operating environment.
iDenfy chosen by Watchdreamer for greater security
Watchdreamer, an e-commerce watch marketplace in Switzerland, has chosen the Lithuanian location iDenfy to improve customer verification processes. iDenfy’s KYC software will ensure the authenticity of Watchdreamer customers, simplifying the user registration process and providing a secure shopping experience.
The partnership aims to address the challenges of fraud and money laundering in the luxury watch market. iDenfy’s advanced biometric and facial recognition algorithms will help verify users’ identities, ensuring compliance with legal requirements and increasing transparency.
Ronan Pensivy, COO of Watchdreamer, emphasizes the importance of compliance and delivering an exceptional customer experience. Domantas Ciulde, CEO of iDenfy, highlights the collaboration’s goal of offering Watchdreamer customers a safe and efficient online shopping journey.
Article topics
anti-money laundering | biometric | ComplyCube | facial authentication | financial services | fraud prevention | iDenfy | identity verification | Identomat | KYC | selfie biometrics | Meaning
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