Identity verification platform Acuant has formed a partnership with API-enabled B2B financial infrastructure developer Prime Trust.
The deal will see Prime Trust integrate Acuant Compliance, formerly IdentityMind, to help with onboarding sanctions screening and authorisation. This will ensure all transaction parties meet relevant KYC regulations.
In addition to transaction monitoring, it will give the company greater transparency and the ability to main processes more efficiently. This includes velocity alerts and historical behaviour deviation, case management and built-in SAR filing.
Prime Trust developers B2B financial infrastructure for payments, custody and liquidity for FinTech applications including payments, neobanking, crypto exchanges, crowdfunding portals and more.
The KYC technology of Acuant ensures document verification, with an ID library that spans 6,000 document types and more than 200 countries and territories.
Prime Trust CPO Kevin Lehtiniitty said, “The increase in digital transactions over the past year has spurred great growth for our company, but has also escalated our need for a sophisticated yet simple solution to meet the digital identity needs of our expanding customer base.”
“We were pleased to learn that IdentityMind had become part of Acuant and are excited to expand our relationship and leverage the platform’s full capabilities as part of our Prime Compliance offering to meet the needs of our customers within our API solutions.”
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