FintechOS and ARIADNEXT announce integration agreement for compliant and certified identity verification services
The relationship will span strategic markets in Europe, Middle East and Africa for new account openings, re-verification and high-risk transactions.
London, 14th of July, 2022 – FintechOS, the global leader in high-productivity fintech infrastructure for financial services, insurance, and retail industries unveil a key partnership with ARIADNEXT, part of IDnow group, European leader in identity services to offer robust and certified identity verification services. The relationship will span strategic markets in Europe, Middle East and Africa for new account openings, re-verification and high-risk transactions.
Foundational to this partnership are FintechOS’ high-productivity fintech infrastructure, Know Your Customer (KYC) standards and compliance requirements. These protect financial services providers against fraud, money laundering and terrorist financing that is becoming the norm for the industry.
FintechOS is continuously investing in its Digital Onboarding solution to offer customers a seamless, best-in-class experience. Given the highly regulated nature of the financial services industry, FintechOS Digital Onboarding solution supports banks to meet the different regulatory requirements, European or local: KYC, AML and GDPR.
“Customers increasingly grasp the power of the digital financial ecosystems and FintechOS is uniquely positioned to enable open innovation, partnering with the most relevant fintech, regtech and data providers, through its API rich Ecosystem Hub”, said Todi Pruteanu, VP of Ecosystem at FintechOS. “We’re delighted to expand the collaboration with ARIADNEXT and further create choice in our ecosystem for the solutions built on FintechOS to comply with the requirements in the European digital identity domain. The result is a product capability that meets today’s remote identity proofing standards while delivering an intuitive customer experience. This is great news for customers and partners looking to build next generation customer journeys and differentiated financial product and services with FintechOS”.
ARIADNEXT, part of the IDnow group, offers remote identity proofing, digital identity, e-signature and document security services to banks and financial institutions, telecommunications, governments, transport and travel or online gaming & gambling.
Remote identity verification in the context of customer onboarding has been regulated across Europe through new norms and laws (eg. ETSI TS 119-461, PVID). The hybrid solution developed by ARIADNEXT and implemented by FintechOS offers a simple and user-friendly online experience that meets these new regulatory requirements. The IDCheck.io solution offers the ability to capture a video of the document and the person, checks the ID documents automatically thanks to AI and manually for enhanced verification, the whole process taking 5 minutes on average. The IDCheck.io solution was certified under the ETSI TS 119 461, which defines requirements in remote identity proofing on a European level.
Bertrand Bouteloup, Deputy General Manager, ARIADNEXT said “Our remote identity proofing services have proven themselves to be the first choice for some of the biggest companies across Europe, which is a testament to the levels of security and fraud assurance we continuously offer our customers. Our innovative hybrid solution, IDCheck.io, offers a seamless and fully digital eKYC for end clients in a couple of minutes, compliant with ETSI TS 119-461. Partnering with FintechOS allows to provide turnkey services to financial institutions and banks under the ADR regulation across Europe”.
FintechOS is the global leader in high-productivity fintech infrastructure technology. It helps companies across any domain rapidly launch and manage the next generation of products and services across lending, savings, insurance, investment, and embedded finance.
FintechOS solutions also give companies the ability to reduce cost on outdated core infrastructure, to modernize operations and deploy modern customer journeys that offer great customer experience.
FintechOS portfolio ranges from globally strategic companies like Groupe Société Générale, Vienna Insurance Group or Raiffeisen Bank to game changing players such as Oney, eMag, and Howden. The company employs more than 500 people in its offices in London, New York, Amsterdam and Bucharest.
ARIADNEXT by IDnow develops digital identity and remote ID verification as well as electronic signature solutions. All based on AI and Deep Learning, they meet AML-CFT requirements while offering optimized user experience. To meet the European Union’s ambitions of a secure digital economy and trust, ARIADNEXT merged in June 2021 with its partner IDnow to increase its leadership position in the European Regtech market.
The newly formed IDnow Group offers a unified platform of identity proofing solutions, including technologies combining automation and human assistance, as well as solutions mixing online and point-of-sale expertise.
With offices across Europe (France, Spain, Germany, UK, Poland, Romania), the group has a portfolio of more than 1,000 international clients from a wide range of industries including Sixt, Tier Mobility, Western Union, UBS, Munich Re, N26, Solarisbank and wefox, Crédit Agricole, BNP, Société Générale, Younited Credit, PMU, Free, SFR and La Française des Jeux.
Liked this article? You might like these ones
Combined commercial: any flavor so long as it’s vanilla
In this report we explore the opportunity for SME insurers of offering tailored and personalized combined commercial and analyze three key trends for embedded SME banking
Get More From Your Core Without Replacing It
Register for this on-demand Webinar and learn why you do not need to replace your Credit Union’s core to deliver personalized products and services to your member community.
Core Conversion: Is the Juice Worth the Squeeze?
Have you recently considered taking on a banking core conversion? Are you wondering if it will be worth the effort? Register for this on-demand webinar and learn why you do not need to convert your core to drive banking transformation at scale.