Leading Platform-as-a-Service provider for identity verification, IDnow, has announced its first UK channel partner, Sphonic. The partnership will enable Sphonic to offer a suite of RegTech that meets different global compliance standards via a single API.
“Given the importance placed on orchestration technology in the overall area of compliance, and the regulatory requirements that continue to drive the agenda when it comes to identity and fraud, it was vital we partnered with an identity verification provider that could vigorously meet the varying obligations that exist right across Europe,” explains Andy Lee, Founder of Sphonic.
Sphonic recently launched its real-time Transactional Monitoring System, which allows fintechs, banks and gaming operators to monitor fraud, Anti-Money Laundering (AML) and affordability data in a single integrated platform. Its suite of RegTech, including KYC, KYB and Fraud and Risk Management also helps compliance teams to build a complete digital picture of each customer in order to fast-track customer onboarding.
James Hudson-Dale, Partnerships Manager at IDnow, adds: “Anti-impersonation and identity fraud is on a worrying upward trend, making it more important than ever for businesses to ensure they are compliant beyond simply box ticking. Our leading identity verification technology will provide Sphonic customers with the option of imposing additional verification methods to ensure the threshold is high quality and the person is who they say they are.
“As our first channel partner, we’re excited to be working with Sphonic to build a truly unique suite of products, that will bring together multiple data sources to ensure clients can accurately verify identities, combat fraud and meet European-wide regulatory requirements while maintaining flexibility of choice.”
“By partnering with IDnow, we are able to offer an ever-more integrated solution that brings all identity profiles into one place for more intelligent identity scoring. And when combined with its enviable relationships with European regulators, IDnow was the ideal choice as we continue to deliver great customer experiences to the highest standards of regulatory compliance.”
