Investment platform Further recently announced a partnership with digital identity service provider Yoti, which should improve the customer onboarding experience, making it quicker and more seamless for clients to invest in their preferred funds.
Under the Financial Conduct Authority (FCA) rules, Further must offer appropriate identity evidence for investors when transfers are completed. This is done to prove that investors looking to invest in a particular fund through Further are who they claim to be.
By utilizing Yoti for digital ID verification purposes, Further will aim to solidify their KYC / AML procedures, provide seamless onboarding and quicker processing times. Yoti’s digital identity checks reportedly take less than a few minutes to carry out; speeding up the identification process significantly.
Further, a London-headquartered firm, connects retail investors with “high-quality” VC funds, at scale and with minimum investment levels never realized before in the market. This allows new retail investors to make investments in venture funds, from as low as £1,000.
Further’s platform provides investors a selection of VC fund investment opportunities, from a range of UK tax-advantaged and global VC fund managers.
Rob Tominey, Further CEO stated:
“We’re thrilled to be working with Yoti on identity verification and AML, which has been seamlessly integrated into Further’s onboarding process. To deliver a high quality, premium, trustworthy experience for today’s investors, it was important that we found a tool with a user experience that matched our own and was straightforward to use across devices – and Yoti have delivered on this. We look forward to growing Further alongside the team at Yoti.”
John Abbott, Chief Commercial Officer at Yoti, remarked:
“We’re really pleased to be working with Further to power the next generation of financial products. Our identity verification technology will strengthen and streamline their customer onboarding, and create a frictionless and secure experience. There’s a growing desire for better experiences from consumers and our technology can fast track processes that historically have taken up significant time and effort. Individuals can pass identity verification checks quickly and focus on what’s important – their investment decisions.”
