LONDON, May 24, 2017 /PRNewswire/ --
Collaboration enables enhanced
customer verification and fraud prevention
capabilities
SafeCharge (LON:SCH), a leader in advanced payment technologies,
has partnered with Sphonic, a data network of leading 3rd party
vendors that provides real time authentication and fraud management
decisions to a burgeoning digital world, to address industry-wide
KYC and fraud prevention challenges. This partnership enables
SafeCharge to add complimentary compliance services such as KYC,
document verification, PEPS/Sanctions and enhance the company's
propriety, award-winning fraud prevention solution with additional
capabilities.
(Logo:
http://photos.prnewswire.com/prnh/20160526/372493LOGO )
To meet the growing needs of regulated gaming businesses and CFD
brokers and to be prepared for a changing regulatory landscape,
including PSD2 and the 4th AML Directive, SafeCharge has selected
Sphonic's Workflow Manager (WFM) to provide Know Your Customer
(KYC) and document verification capabilities, while reducing
customer friction and operational overheads.
Using Sphonic's connection to multiple leading vendors,
SafeCharge will create a vendor agnostic solution that will allow
merchants to select and work with their KYC and document
verification vendor of choice as well as increase onboarding
customer conversion. The service includes:
- Multi-bureau KYC verification, with intelligent in-flight
routing based on pre-defined criteria such as geography, match rate
level, commercial viability and more
- Regulatory AML checks for PEPS/Sanctions
- Enhanced digital insight including Device ID and Reputation
capability, email/phone verification and validation, geo-location
and distancing - and a host of others coupled with Sphonic's unique
approach in fusing multiple services to derive greater context
A Thomson Reuters 2016 Know Your Customer Survey revealed that
ongoing regulatory change is the leading challenge around KYC: 87
percent of banks and 75 percent of investment managers believe
regulatory and legislative change is the most influential factor
for their KYC processes.
"To meet the needs of ongoing regulatory changes and our
growing, diverse client-base, a multi-faceted approach to manage
risk was required - and as such flexibility and access to multiple
technologies was key to selecting Sphonic," said David Avgi, CEO, SafeCharge. "SafeCharge
continues to stay a step ahead in the digital KYC and fraud
prevention space by embedding Sphonic's technology into our
Payments Platform, enabling us to provide comprehensive payments,
anti-fraud and compliance services via a single integration."
"We are excited to be part of SafeCharge's enhancement of their
KYC and fraud prevention services through our innovative WFM
platform," stated Riten Gohil, CEO,
Sphonic. "The collaboration gives SafeCharge the ability to create
a workflow that will cascade checks between different providers to
get optimal results for merchants that are providing KYC for their
customers. These customers now have access to our extensive
capabilities, global reach and market-leading insights from our
team of experts in this space."
Meet SafeCharge at iFX EXPO International, Spyros Kyprianou
Centre, Polemidia, Limassol, May 23-26,
2017 at Booth 9.
About SafeCharge
SafeCharge International Group Limited is the payment service
partner for the world's most demanding businesses. SafeCharge
provides global omni-channel payments services from card acquiring
and issuance to payment processing and checkout, all underpinned by
advanced risk management solutions. This fully featured proprietary
payment platform connects directly to all major payment card
schemes including Visa, MasterCard, American Express and Union Pay
as well as over 150 local payment methods. With offices around the
world, SafeCharge serves a diversified, blue chip client base and
is a trusted payment partner for customers across a range of
vertical markets. The company has been listed on the London Stock
Exchange AIM market since 2014.
About Sphonic
Sphonic is the trading name of Symphonic Solutions Limited which
was established in 2012 with backing from private investors to
develop and launch its initial product Workflow Manager. With the
growth in digital commerce, alongside increasing concerns around
customer security, Sphonic has created a suite of products to
ensure its clients achieve the right balance in protection and
customer experience. Workflow Manager enables access to innovations
from market leading vendors in areas such as Global Identity &
Verification, Peps & Sanctions Data, Device Fingerprinting,
Mobile Profiling, Email Verification, Geo-Location, Behavioural
Biometrics and a host of other through its agnostic platform. For
more information visit http://www.Sphonic.com or contact the team
at info@sphonic.com
Contacts
SafeCharge International Group Limited
David Avgi
Tim Mickley
+44(0)20-3051-3031
Press Contacts:
CCgroup for SafeCharge
Alan Miller / Abbie Godward
Safecharge@ccgrouppr.com
+44(0)203-824-9200