April 8, 2022. Nikulipe, the global expert for local payment methods, has announced its partnership with iDenfy, the fraud prevention and digital identity verification business for smoother service delivery. iDenfy’s document verification service will support Nikulipe in its efforts to provide its local and international clients with an expedited and compliance based onboarding process.
Client Due Diligence (CDD), Sanctions Screening and prevention of Money Laundering and Terrorist Financing are of increasing importance for Fintechs but at the same time these necessary processes are often associated with a lengthy and frustrating customer experience. According to research published by Swift, Know Your Client (KYC) is one of the biggest challenges in the compliance space, both for financial institutions and corporations. In a survey, carried out in partnership with Eurofinance, 93% of corporate clients reported that responding to KYC requests was more challenging than it was five years ago. The survey also showed that delays in KYC processes have an impact on account opening and, in some cases, directly affect decisions to work with specific financial institutions.
Nikulipe, a global Fintech providing Payment Service Providers and their Merchants access to consumers in Fast-Growing markets by creating and connecting Local Payment Methods has just recently announced the launch of their Baltic payment method banklinq. For the company, it was essential to have a strong partner that could ensure a quick, safe and easy onboarding process for its fast growing number of local and international clients.
iDenfy’s AI-powered identity verification solution supports over 2000 different types of identity documents from more than 200 countries and can detect fraud or any inconsistencies of the information included in an identity document in under 15 seconds. The combination of integrated AML Screening and Ongoing Monitoring capabilities makes iDenfy a powerful, all-in-one platform for identity verification, fraud prevention and compliance.
Frank Breuss, Nikulipe CEO said: “At Nikulipe we are convinced that the highest standards of AML and Compliance should not come at the expense of the best possible client experience. We are proud to announce our partnership with iDenfy, which will help to provide our clients with a hassle-free and safe verification solution”.
“It’s my pleasure to announce the partnership with Nikulpe. We’re happy to share our knowledge regarding identity verification and help create secure, seamless customer onboarding that creates value.” – said Domantas Ciulde, CEO of iDenfy.