Identification verification specialist ID-Pal introduced a world strategic partnership with CLOWD9.
The partnership will combine ID-Pal’s AI-powered identification verification expertise into CLOWD9’s fee options portfolio.
ID-Pal made its Finovate debut at FinovateFall 2024 in New York.
Recent off its Finovate debut at FinovateFall this month, identification verification specialist ID-Pal has introduced a world strategic partnership with CLOWD9. Courtesy of the partnership, CLOWD9 will provide ID-Pal’s AI-powered identification verification expertise through its fee options portfolio.
“This strategic partnership will permit CLOWD9 purchasers to entry each a compelling end-to-end identification answer and an AML screening answer with superior AI-fraud detection capabilities,” CLOWD9 CEO and Co-Founder Suresh Vaghjiani mentioned.
Utilizing a mix of doc, database, and biometrics checks, ID-Pal permits companies to confirm the identification of their prospects in real-time. Accessible through API, SDK, or via the Salesforce App Alternate, ID-Pal’s expertise detects AI-generated paperwork, deepfakes, and injection assaults, offering superior fraud detection with out requiring direct entry to buyer information. ID-Pal additionally streamlines OFAC, AML, and KYC processes right into a single compliant workflow to make sure a complete audit path.
“We’re delighted to be including our award-winning identification verification answer to the CLOWD9 expertise portfolio,” ID-Pal Enterprise Gross sales Supervisor Mark O’Hara mentioned. “Collectively we will help monetary establishments adapt and thrive in a brand new world of digital funds and enhanced safety by democratizing safe, strong fraud prevention instruments.”
The partnership with CLOWD9 advances the corporate’s mission to revolutionize the fee trade via a mix of superior fee processing and AI-powered identification verification. Based in 2021 and headquartered in London, CLOWD9 was among the many first B Corp licensed funds firms. The agency provides a cloud-native, decentralized issuer funds processing platform that serves challenger, shopper, and SME banks; e-wallets and crypto exchanges; digital and company card applications; and extra.
ID-Pal is just not the one Finovate alum that CLOWD9 has teamed up with in 2024; the corporate introduced a partnership with reconciliation and reporting companies supplier Kani Funds in June. Like ID-Pal, Kani is a relative newcomer to Finovate, debuting at FinovateSpring final yr. Moreover, this week’s information from CLOWD9 comes simply days after the corporate launched new Chief Know-how Officer Paul Hansford. Hansford involves CLOWD9 after six years as head of software program engineering for fee firm Thredd.
Based in 2016 and headquartered in Dublin, Eire, ID-Pal made its Finovate debut at FinovateFall 2024. On the convention, firm CEO and Founder Colum Lyons demoed ID-Pal’s expertise that makes use of “pure AI, not individuals,” to supply real-time identification verification. In his remarks, Lyons highlighted the truth that many legacy distributors within the area rely as a lot on individuals for identification verification as they depend on expertise. In distinction, he mentioned, ID-Pal’s 100% AI-powered platform leverages 160+ trusted information sources and seven,000+ identification paperwork to supply extra correct outcomes and better effectivity.
Photograph by Luciann Images
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