Signzy integrates biometric KYC with Velocity FinCrime fraud, AML monitoring

Identity verification and regtech company Signzy has secured a deal to integrate its Know Your Customer (KYC) technology with Velocity FinCrime, a risk intelligence platform that helps prevent financial crimes and manage Anti-Money Laundering (AML) processes. The integrated product will first be offered to organizations in the U.S. and Canada markets, with plans to expand into Australia and Europe in the second phase.

Signzy’s One Touch KYC platform will be added to the Velocity FinCrime platform through the strategic partnership, allowing businesses to conduct digital identity verification during onboarding with selfie biometrics and liveness detection and then use Velocity FinCrime’s capabilities to ongoing conduct FRAML (FRaud and Anti-Money Laundering) monitoring.

Such a cohesive compliance workflow is especially vital in cross-border remittance, brokerage and trading, and digital financial services – industries where swift user onboarding must be balanced against multi-jurisdictional regulatory obligations, the duo says in a release.

“By integrating Signzy’s digital identity verification into the Velocity FSS platform, we are enabling institutions to create a smarter compliance journey that begins with secure onboarding and continues with real-time AML monitoring and risk intelligence across the customer lifecycle,” says Vineet Mishra, chief product officer at Velocity FinCrime Solutions Suite.

Signzy has recently scored another biometrics integration deal, this time with ViewTrade IFSC, which provides technology for online brokers and other fintechs.

Article Topics

AML  |  biometric liveness detection  |  biometrics  |  face biometrics  |  identity verification  |  KYC  |  selfie biometrics  |  Signzy  |  Velocity Fincrime