SDK.finance, a Fintech solutions provider, has recently announced its integration with ComplyAdvantage, a key player focused on financial crime intelligence.
This integration is said to mark a new era in “streamlined compliance processes for SDK.finance clients.”
With the integration of ComplyAdvantage’s advanced AI-driven technologies, SDK.finance users can “improve their Know Your Customer (KYC) procedures and enhance compliance measures in real-time.”
Integration with ComplyAdvantage provides SDK.finance users “with a robust and seamless solution for enhancing their compliance processes.”
ComplyAdvantage offers SDK.finance customers “a streamlined and effective KYC verification service that helps manage and mitigate risks associated with customer identity verification.”
It provides a high level of security and accelerates “the onboarding process for end-users by automating customer screening and monitoring for sanctions, watchlists, adverse media, and more.”
The KYC process offered by ComplyAdvantage “includes search algorithm options designed to enable accurate matching, even when there are spelling errors or variations. Likewise, search profiles can be customized based on the risk level per data source.”
This KYC process not only “enhances operational efficiency but also reduces false positives, providing a robust KYC compliance experience for SDK.finance customers.”
This integration not only “streamlines the KYC process but also enhances the accuracy and reliability of compliance measures. By leveraging ComplyAdvantage’s comprehensive risk detection and regulatory compliance tools, SDK.finance users can ensure that their financial products adhere to the highest standards of compliance.”
The system automatically updates “the user’s identification status via SDK.finance APIs. This immediacy allows for quick decision-making and ensures that users are promptly informed of their approval status.”
ComplyAdvantage’s robust risk detection capabilities “contribute to reliable risk mitigation for SDK.finance users, identifying and flagging potential risks associated with user profiles, transactions, or activities.”
SDK.finance CEO Alex Malyshev said:
*Please note that the features provided by ComplyAdvantage to the SDK.finance clients are subject to their agreement with the vendor. From SDK.finance’s side, a simple integration process with the provider is enabled. We are honored to welcome ComplyAdvantage, among other recent providers, as our valued partners. This integration marks a significant step in empowering our clients to enhance their compliance procedures and leverage the ComplyAdvantage advanced KYC capabilities without the need to build their own integration from the ground up.”
Raji Soussou, VP Global Partnerships & Alliances, ComplyAdvantage, said:
“The SDK.finance platform enables the creation of a streamlined, efficient ecosystem for neobanks and others in the paytech space, which makes them a welcome addition to the ComplyAdvantage network of partners. Working together, we can help SDK.finance customers by empowering smarter, more accurate decision-making to meet KYC requirements; thus, creating a safer, stronger financial system.”
As covered, ComplyAdvantage claims that it is “the financial industry’s leading source of AI-driven financial crime risk data and fraud detection technology.”
ComplyAdvantage’s mission is to “create a safer, stronger financial system by providing companies with the information and insight they need to detect and prevent money laundering and other financial crimes.”
More than 1000 enterprises in 75 countries “rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies.”
The company identifies thousands of risk events daily “from millions of structured and unstructured data points. G2 and leading industry analysts have recognized ComplyAdvantage as a leader in AML services.”
ComplyAdvantage has four global hubs in New York, London, Singapore, and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers, Index Ventures, and Balderton Capital.