Kompli-Global and Yoti team up to tackle fraudsters and money launderers with verified identities

  • Digital Identity , RegTech , Platform Technology , Security
  • 21.05.2020 11:02 am

Kompli-Global, the leading RegTech AML specialist, has formed a strategic partnership with digital identity and credential management platform, Yoti, to make life much more difficult for fraudsters and money launderers.

Kompli-Global recently launched the most comprehensive remote corporate onboarding platform called Kompli-QED™ that offers the powerful combination of its own unique proprietary solutions alongside services from best-in-class third party providers. Yoti is the latest to add its expertise into the platform.

Kompli-Global CEO, Jane Jee, stressed: “Identity theft is one of the fastest growing criminal activities, so it is vital to be able to verify that potential new clients are who they say they are. Being able to offer Yoti’s innovative proof of identity and verification system is excellent news for our new platform but extremely bad news for fraudsters and money launderers. The way it should be.”

Yoti verifies the identity of each individual, authenticates a trusted identity document and verifies it is presented by the live human being to whom it belongs. An individual is asked to capture an image of a government-issued photo identity document such as a passport, driving licence or national identity card, and take a ‘selfie’. Award winning technology and human agents conduct comparison analysis to confirm that the ‘selfie’ is the same person as the photo on the ID document. It also verifies that it is an image of a real person in front of a camera, not a spoof through an automated bot, mask or photo.

The system then checks the integrity of the security features on the document to ensure it is an authentic and unexpired document. Kompli-Global then retains the image of both the ID document and the ‘selfie’ for audit and future remediation purposes.

Gareth Narinesingh, Commercial Director - Financial Services at Yoti, said: “We’re thrilled to partner with Kompli-Global who share our passion and commitment to tackling fraud. We combine robust security with a privacy-preserving approach to personal data, which makes Yoti the perfect partner for businesses seeking results and regulatory compliance.”

Jane Jee added: “Yoti shares our approach of employing leading edge RegTech, letting augmented intelligence do the heavy lifting and using human expertise at the right time. Criminals and money launderers are not slow to use technology to steal or create fake identities. Our partnership is an illustration of how technology is now working against them which has to be good news.”

To find out more about Kompli-QED, and about Kompli-Global’s suite of customer due diligence technologies, visit: www.kompli-global.com

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