International payment transfer enterprise FlashFX has implemented 4Stop’s KYC and anti-fraud solution to boost its customer onboarding.
FlashFX supports the international money transfer between 35 countries and 18 currencies, without charging transaction fees. Through the partly integrated Ripple distributed ledger, the company automates the secure transactions.
The addition of 4Stop’s KYC processes with further boost the risk mitigation and compliance tasks. A major focus for this integration is to boost KYC verification through real-time document identity authentication which doesn’t make the onboarding experience more complex.
4Stop’s platform accesses hundreds of global KYC data sources to support real-time activation and performance through a single API.
In addition to this, the anti-fraud services of 4Stop will be able to automate the risk management with a real-time risk engine, real-time intelligence and transactional monitoring.
4Stop CEO Ingo Ernst said, “The ever-changing global regulatory environment makes it imperative for businesses to find a KYC solution that will not only facilitate the requirements globally and per localised region for today but enables them to adapt with requirements in a seamless manner.
“Our solution does just that, and we are very excited to be supporting FlashFX on an international level with our future-proofed, frictionless KYC for secure customer onboarding and enhanced transactional verifications.”
Last year, 4Stop formed a similar partnership with iovation to help the company manage their risk-based models from just a single integration with minimal to zero impact on their business operations.
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Copyright © 2018 RegTech Analyst
