Identification verification specialist ID-Pal introduced a world strategic partnership with CLOWD9.
The partnership will combine ID-Pal’s AI-powered id verification know-how into CLOWD9’s fee options portfolio.
ID-Pal made its Finovate debut at FinovateFall 2024 in New York.
Recent off its Finovate debut at FinovateFall this month, id verification specialist ID-Pal has introduced a world strategic partnership with CLOWD9. Courtesy of the partnership, CLOWD9 will provide ID-Pal’s AI-powered id verification know-how by way of its fee options portfolio.
“This strategic partnership will enable CLOWD9 shoppers to entry each a compelling end-to-end id answer and an AML screening answer with superior AI-fraud detection capabilities,” CLOWD9 CEO and Co-Founder Suresh Vaghjiani mentioned.
Utilizing a mixture of doc, database, and biometrics checks, ID-Pal allows companies to confirm the id of their prospects in real-time. Out there by way of API, SDK, or by means of the Salesforce App Trade, ID-Pal’s know-how detects AI-generated paperwork, deepfakes, and injection assaults, offering superior fraud detection with out requiring direct entry to buyer knowledge. ID-Pal additionally streamlines OFAC, AML, and KYC processes right into a single compliant workflow to make sure a complete audit path.
“We’re delighted to be including our award-winning id verification answer to the CLOWD9 know-how portfolio,” ID-Pal Enterprise Gross sales Supervisor Mark O’Hara mentioned. “Collectively we will help monetary establishments adapt and thrive in a brand new world of digital funds and enhanced safety by democratizing safe, strong fraud prevention instruments.”
The partnership with CLOWD9 advances the corporate’s mission to revolutionize the fee trade by means of a mixture of superior fee processing and AI-powered id verification. Based in 2021 and headquartered in London, CLOWD9 was among the many first B Corp licensed funds firms. The agency presents a cloud-native, decentralized issuer funds processing platform that serves challenger, client, and SME banks; e-wallets and crypto exchanges; digital and company card packages; and extra.
ID-Pal just isn’t the one Finovate alum that CLOWD9 has teamed up with in 2024; the corporate introduced a partnership with reconciliation and reporting providers supplier Kani Funds in June. Like ID-Pal, Kani is a relative newcomer to Finovate, debuting at FinovateSpring final 12 months. Moreover, this week’s information from CLOWD9 comes simply days after the corporate launched new Chief Expertise Officer Paul Hansford. Hansford involves CLOWD9 after six years as head of software program engineering for fee firm Thredd.
Based in 2016 and headquartered in Dublin, Eire, ID-Pal made its Finovate debut at FinovateFall 2024. On the convention, firm CEO and Founder Colum Lyons demoed ID-Pal’s know-how that makes use of “pure AI, not individuals,” to offer real-time id verification. In his remarks, Lyons highlighted the truth that many legacy distributors within the area rely as a lot on individuals for id verification as they depend on know-how. In distinction, he mentioned, ID-Pal’s 100% AI-powered platform leverages 160+ trusted knowledge sources and seven,000+ id paperwork to offer extra correct outcomes and higher effectivity.
Photograph by Luciann Pictures
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