Shufti Pro appoints Dubai team leaders, signs up 3 fintechs for identity verification

Shufti Pro has signed up a trio of customers in different areas of fintech for its biometric identity verification to comply with regulations, and also beefed up its executive team in the Middle East.

Ahamad Jamal, who has served Shufti Pro as a business development representative, global business development manager, senior manager for global sales and head of sales for the MENA region over the past five years is now leading the company’s Dubai team.

Jamal’s areas of expertise include public relations, business development and team leadership, according to the announcement.

Leadership in the Dubai office also includes MENA Onboarding Specialist Muhammad Faraz, Business Development Specialist Hala El Mashtoub, and Growth Specialist Hameed Umair.

Fintech customer wins

Escrow and vetting services startup VetMe is deploying Shufti Pro’s technology to eliminate fraud from payment transactions on its platform. The deal gives VetMe real-time identity verification, anti-money laundering (AML) screening and background check capabilities, which also help with compliance to KYC regulations.

These tools enable VetMe’s background check and payment protection services for online buyers and sellers to safeguard both sides of transactions from fraud, according to the company.

U.S.-based Kairos Loan, which allows consumers to use NFTs as collateral for cryptocurrency loans, has chosen Shufti Pro to protect its platform from fraud attempts while ensuring compliance with global KYC and AML regulations.

The companies say that NFTs and other digital assets related to Web3 are vulnerable to criminals. The deployment of Shufti Pro’s technology is vital, therefore, in preventing fraud and compliance failures.

Shufti Pro’s identity verification and customizable services, with 99 percent accuracy, the company says, make it well-suited for fintech service providers.

“Shufti Pro allowed us to quickly and efficiently carry out the KYC/AML part for our fundraising. In token fundraising, it’s particularly important to be able to ensure the origin of funds and investors with our traditional banking partners,” says Joseph Bosseult, the CEO of Kairos Loan.

American stablecoin crypto provider Rock Stable is strengthening its identity verification for user onboarding with Shufti Pro’s selfie biometrics and other technologies.

“Cryptocurrency is currently a tough business to be in, but we see recent events as part of the ‘cleansing phase’ within the overall process of cryptocurrency adoption,” says Rock Stable CEO Carlos Tapang. “There is room for decentralised finance (DeFi), but there is also room for compliance.”

Tapang also lauds Shufti Pro’s system for making regulatory compliance easy for users.

Shufti Pro announced ISO 27001 certification for secure data management practices earlier this month.

Article Topics

appointments  |  biometrics  |  digital identity  |  identity verification  |  KYC  |  Middle East  |  selfie biometrics  |  Shufti