Estonian identity verification firm Veriff has teamed with mobile money app Monese to provide strengthened and secure digital banking services to European consumers.
Founded in 2015, Monese claims it was the first UK mobile app alternative to traditional banks. The company provides portable banking services for mobile money accounts across 31 countries. Many of its customers are in the gig economy, are self-employed or living in a different European country in that which they were born.
According to Veriff, through this partnership Veriff is adding an extra layer of safety and security to Monese’s mobile app. The company added Veriff will seamlessly onboard and authenticate the identity of Monese users to help the firm meet KYC requirements – a move that will increase the speed and accuracy of user screening while stopping identity fraud.
Veriff highlighted the new partnership with Monese further extends the mission of preventing identity fraud as the two firm’s continue to grow their operations within key markets.
Veriff co-founder and CPO Janer Gorohhov said, “This partnership with Monese strengthens our position in the UK’s highly competitive digital banking market. We’re excited to aid Monese in its mission to provide access to fair, flexible financial services and support while minimizing friction as we simultaneously expand our organization’s footprint in the UK via our customer base and team.”
Monese CCO Atul Choudrie added, “At Monese, we help people build sustained financial resilience, by providing access to fair, flexible financial services and support. Working in partnership with Veriff, we are unlocking new possibilities in delivering a safe and efficient onboarding experience that will help us reach more customers.”
Veriff recently launched its new Anti Money Laundering (AML) compliance to aid companies in complying with AML regulations.
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