Silverbird, a firm that provides borderless, limitless, and economical solutions for international traders, has joined forces with Resistant AI.
The collaboration aims to enhance Silverbird’s customer onboarding processes. By incorporating Resistant AI’s Document Forensics, Silverbird can swiftly and accurately authenticate its customer onboarding (KYC) and source of funds (SOF) checks for merchants transacting in over 195 countries in 30+ currencies. All these transactions are conducted online.
Silverbird excels in giving its business clientele foreign payment accounts in multiple currencies. These are simpler and quicker compared to traditional banks. Remarkably, 98.9% of Silverbird’s transactions are executed instantly, with the rest taking merely a few days. As the company supports over 500 merchants globally across diverse industries and currencies, they use an online portal for customer onboarding.
This portal requires incorporation documents and proof of address to confirm the authenticity of the business. Resistant AI’s advanced system, equipped with over 500 detectors, critically examines a document’s internal, metadata, and visual properties, enhancing Silverbird’s application process – a vital aspect given the company’s current expansion phase.
On the other hand, Resistant AI’s Document Forensics is a celebrated tool that expedites customer reviews and onboarding. Its machine learning algorithms swiftly validate digital documents’ genuineness from all over the world.
Resistant AI CEO and Founder Martin Rehak said, “We look forward to helping Silverbird revolutionise their onboarding process, becoming more efficient and reducing risk in an industry that is increasingly attacked by fraudsters. Silverbird will be better equipped to adapt to progressively pernicious threats, and we are proud to support them on their journey to expansion.”
Silverbird CEO and Founder Max Faldin remarked, ‘Across our industry we’ve witnessed a spike in forged documents, and those are just the ones we’ve spotted. If you apply the same metric to ones you can’t see – it’s clear that it’s a growing challenge, with gangs of fraudsters knowing how to do this better than ever before. By using Resistant AI’s Document Forensic solution we will be better able to detect the advanced fraud tactics that are almost impossible to spot with the naked eye, across a huge number of data points. We are keen to pass on the benefits of this increased security to our customers as our business grows.”
Silverbird facilitates seamless international transactions through its multi-currency business account. Supporting 30+ currencies, it ensures rapid transfers to 200 countries and offers a built-in Foreign Exchange feature with transparent rates.
Copyright © 2023 RegTech Analyst
Copyright © 2018 RegTech Analyst