London, UK – September 23, 2023 – Shufti Pro, a leading ID verification service provider, has announced a partnership with Newton Global, a new-age financial institution that provides all kinds of trading solutions. Shufti Pro will serve as a KYC and AML authenticator to Newton Global, ensuring no financial scams happen in the FinTech industry sector and providing a secure user onboarding solution.
Operational in Nigeria, Newton Global provides tailored trading solutions to clients spanning forex, commodity, stocks and indices and focuses on serving internationally and driving sustainable investment results. The company allows investors to trade through the Meta 5 and NG platforms, permitting them to buy & sell multiple short-term instruments. However, working on a completely online-based trading initiative comes with a variety of challenges, and one of the biggest concerns is identity fraud.
IdentityTheft reported that every year, $10.2 billion is lost in ID scams which is about $500 per medium and the figure continues to rise at the rate of 19%/year. With this surge in scams, a robust ID verification solution is required for FinTech companies.
Shufti Pro, recognised by world-renowned RegTech publications, provides a revolutionising approach to fight ID fraud. With its state-of-the-art identity verification solutions, synergising human and artificial intelligence to provide pinpoint accuracy, Shufti Pro is paving the way for a safer and more secure digital world.
“Shufti Pro has bolstered the client onboarding procedures by automating the verification process of a wide variety of documents starting from International passports to local and region-specific identification cards. It allows us to spend less time and effort on verifications, allowing us to focus and specialise on the core activities of our business,” said Shreya Cherian, Operations Director of Newton Global.
“Our partnership will ensure the highest level of KYC/AML authentication of the Newton Global customers, fortifying their customer onboarding processes with our state-of-the-art identity verification solutions. We aim to eliminate ID fraud from the FinTech sector, and this partnership is a significant stride towards achieving that goal,” said Victor Fredung, CEO of Shufti Pro.
With Shufti Pro’s integration, Newton Global customers will be guided through a document capture process for tampering authentication and biometric verification for deep-fake and liveness verification. Additionally, the solution will validate the users from various authentic registries including AML, sanction, media, PEPs and other essential lists, making the business KYC/AML compliant and enabling a secure user onboarding experience. While traditional verification processes take days or weeks, Shufti Pro services boost the process into seconds or minutes, enhancing the business’s efficiency with unmatched precision.
About Newton Global
Newton Global is a new-age financial institution providing state-of-the-art technology and competitive pricing for capital market enthusiasts all over the world. Catering to the dynamic and volatile markets would translate into the requirement for quick compliance procedures and customer onboarding experience. Shufti-Pro has enabled Newton Global to adhere to complex regulatory requirements without compromising client satisfaction.
About Shufti Pro
Shufti Pro is a leading IDV service provider offering KYC, KYB, KYI, AML, biometric verification, and OCR solutions, accelerating trust worldwide. It has six international offices and has launched 17 complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 10,000 ID documents in more than 150+ languages, Shufti Pro proudly serves customers in 230+ countries and territories.
For more information, please contact
Paul Keene
Snr. Digital Marketing Manager | Shufti Pro
paul.k@shuftipro.com
+44 020 3435 6498
Market Pro
Marketing Partner | Shufti Pro
Shuftipromedia@marketpro.ai
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