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Shufti Pro wins regtech startup award; provides digital ID verification for 10M Ukrainians

Shufti Pro wins regtech startup award; provides digital ID verification for 10M Ukrainians

Shufti Pro was awarded as the winner of ‘Top RegTech Startups’ under the category of ‘Emerging Startups 2022’ by Tracxn to recognize its biometric liveness detection and ID check solution. The British digital identity verification firm also says it will help aid agencies with processing Ukrainian refugees by providing 10 million identity verifications for free.

The award by Tracxn, a research firm with a startup data platform, distinguishes Shufti Pro’s AI-powered identity verification service that utilizes biometrics and document verification to perform know-your-customer (KYC) and anti-money laundering (AML) in the regulatory technology (RegTech) industry. The awards are handed out for meeting excellence and business parameters in the financial, regulatory, and technological fields that positively impact startups in the regtech industry.

Shufti Pro’s digital ID verification based on selfie biometrics, KYC, and AML services have been recently added to the onboarding process of 99Starz and fintech firm FYNXT.

The British company adds the award to its trophy shelf that includes two from the 2021 International Business Awards as Company of the Year for the ‘Computer Services – Small’ and ‘Financial Services – Small’ categories.

Victor Fredung, the CEO of Shufti Pro says, “We are glad to bag another award. In a world where online scams are skyrocketing and regulators are penalizing businesses for their lackluster defense against these scammers, providing automated and configurable RegTech solutions is a top priority of Shufti Pro. This win validates our efforts to deliver seamless IDV solutions to our global customers.”

Free digital identity verifications for Ukrainians

And as the war in Ukraine continues to rage on, Shufti Pro announced it will help aid agencies process Ukrainian refugees and people entering the country with 10 million digital identity verifications.

Shufti Pro says it will require individuals to verify themselves with a selfie and photo of their ID card, and screen them against Politically Exposed Persons (PEP) lists, global sanctions, and criminal watch lists issued by regulatory bodies such as FINTRAC, FATF, and AUSTRAC, among others. Organizations seeking to use the identity verification services will have to fill out an application form, according to a press release issued by the company.

The British company opened an office in the capital city of Kyiv in June 2021 to expand its line of biometric identity verification solutions in the country.

Fredung remarks, “We are working to help Ukrainian aid agencies in these challenging times. Shufti Pro’s 10 Million free verifications is our way to support the wonderful organisations already working to help Ukrainian people.”

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