RegTech 100 company iSignthis has extended its agreement with XM.Com to include Electronic Know Your Customer (eKYC) for China.
The Australian Securities Exchange and Frankfurt Stock Exchange cross listed RegTech said it has extended the scope of its Paydentity solution to XM.com to include provision of Chinese identity verification services, as a standalone service
XM, a London-headquartered trading platform, is now identifying Chinese, as well as UK and EU based customers, on behalf of various XM trading entities, to meet AML/CFT Know Your Customer (KYC) requirements. The eKYC services have been provided to XM by the RegTech since beginning of this month according to a statement.
iSignthis CEO John Karantzis said “The service has been operating since early January, with full commercial status as of early this month, and contributing to this quarters revenue. The use of Paydentity™ by a global major FX/CFD company such as XM further validates our eKYC services, whilst targeting the lucrative Chinese market.”
The global RegTech company provides remote identity verification, payment authentication and payment processing. Its solutions include an end-to-end onboarding service for merchants, with a unified payment and identity service via its Paydentity and ISXPay solutions.
iSignthis claims to deliver regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world’s 4.2Bn ‘bank verified’ card or account holders , that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.
Earlier this month, iSignthis published its interim operating update for its Australian payment processing and settlement operations. The company reported that over the last four months, figures indicate that its Gross Process Transaction Value (GPTV) will exceed $100m.
Last year, iSignthis was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
