m-FINANCE, a foreign exchange (forex) and commodities , has announced a partnership with Data Zoo, to provide its clients with a range of identity services.
Specifically, by partnering with Data Zoo, m-FINANCE will be able to provide its brokerage and financial institution customers with (KYC), Anti-Money Laundering (AML) and PEPs (Political Exposed Persons) and Sanctions Screening services.
As , the KYC process is the defence line for brokers to protect against AML, fraud and more. The KYC process doesn’t just help brokers comply with regulations; it also allows them to maximize the success of the customer onboarding journey, as well as better manage risks.
Data Zoom, which is a supplier of electronic Identity Verification (eIDV) in the Asia Pacific region, provides instant KYC and AML verifications on individuals, allowing firms to comply with international and local regulations.
Data Zoo’s solutions to be integrated with m-FINANCE CRM
Under the agreement, Data Zoo’s identity solutions have been integrated into the m-FINANCE CRM system. This means m-FINANCE customers, which largely include brokerages, can now access Data Zoo’s solutions to improve their own identity verification process and reduce the risk to their business.
“Further to this, the Data Zoo roadmap to integrate additional verification sources throughout the APAC region provides me and the team with comfort that the Data Zoo solution is future proof.”
Data Zoo’s KYC process verifies various documents, which may include one or more of the following – legal full name, valid date of birth, valid ID number, phone number, bank card number and address.
Source: LinkedIn
“Partnering with m-FINANCE will enable Data Zoo to have a presence in the countries where m-FINANCE operate (Mainland China, Hong Kong, and Taiwan) to enable the promotion of Data Zoo’s IDU offering. I look forward to exploring future opportunities and what we can achieve together.”
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