Minimize onboarding friction, catch fraud and comply with data privacy
From payments and lending to insurance, asset management and equity finance, fintech is touching every aspect of the financial services sector in various ways around the world, driving significant change. While the move in this direction was happening in the years prior, adoption was furthered along by the Covid-19 pandemic in 2020— an unprecedented number of consumers were pushed online, with many using apps to manage their financial lives. In fact, in the US it’s estimated that 9 in 10 individuals are using some form of a FinTech app to manage their finances.
For business, fintech involves automating the delivery and use of financial services to streamline financial operations. From funding to payment processing, money transfer and more– fintech gives small businesses more options than ever.
How we help
Efficiently onboard customers
Since Knowing Your Customer (KYC) compliance is the foundation to customer onboarding, customer identity verification and validation is the first and most necessary step in the onboarding process.
Rapidly adapt to changing regulations
Adapt to changing standards and compliance needs in the markets you service, and easily meet industry regulations when entering new markets globally.
Prevent fraud
By layering in fraud tools with IDology, fintechs can sign up more authentic end users to drive revenue.
Reduce false positives
Reduce the flood of false positives and irrelevant alerts that plague compliance teams using machine learning to prioritize critical alerts.
White Paper: A Guide to Identity Verification for FinTechs
With a growing number of consumers being online and using apps to manage their financial lives, and customers expecting a streamlined onboarding experience, adapting to the rapidly evolving digital and mobile landscapes is a must for FinTechs.
Testimonial
IDology (formerly Acuant) was the perfect partner for us to enable strong security and meet regulations with minimal friction to users."