Shufti Pro releases risk assessment and eIDV services to help firms fight fraud

Shufti Pro has launched its risk assessment and eIDV services to help global businesses fight identity fraud and financial crimes, and meet the ever-evolving KYC/AML regulatory landscape.

Risk assessment solution

Purposely built tool to help businesses identify risks associated with their globally diverse client base.

Shufti Pro’s custom-built risk-scoring solution adapts to the interests of organisations whilst addressing every possible risk factor to safeguard businesses from financial crimes, reputational damages, and regulatory sanctions.

It ensures enterprises make informed decisions by evaluating customer risk factors through custom questionnaires and fraud prevention data points, further examined by the Shufti Pro’s risk intelligence profiling engines (a database of over 10B ID elements).

eIDV service

eIDV is the process of verifying customers through a government-issued unique identifier number.

It works similar to the KYC process, asides from the requirement of paper-based document uploads provided by the customer.

Shufti Pro’s eIDV matches the clients’ data, such as name, DoB, and SSN, against multiple databases and provides unparalleled security.

The digitisation of the modern world shows us to be moving away from paper IDs, towards completely electronic forms due to enhanced privacy, fraud prevention and the elevation of user experience.

Such changes will ensure customer onboarding will be easier, more accurate, cater to global customers and effectively reduce client abandonment rates.

“As a global IDV service provider, Shufti Pro continuously innovates to meet an increasingly varied and diverse range of regulatory compliance requirements for our customers,” said Victor Fredung, CEO of Shufti Pro.

“We are dedicated to providing solutions that address the changing needs of our global clientele and the wider general market – both at the point of onboarding and beyond, and I am pleased to share that risk assessment and eIDV services do just that,” Fredung added.

Shufti Pro recently introduced an array of new features, such as SSO implementation, duplicate account verification, and more to strengthen the suite of its IDV products. Last year, the company secured $20M in Series A funding to accelerate its international expansion, enhance its IDV solutions and expand its compliance suite.

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