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NewProducts

Accelerate trust worldwide

with advanced ID verification

Best-in-class technologies
With average performance times of 10 to 20 seconds, Shufti
Pro solutions are agile, cost-effective and global in scope
and can accurately analyze live video and more than 3,000
types of documents, Shufti Pro noted, adding that this helps
companies meet KYC and AML requirements and data
hufti Pro, an ID verification service provid- protection laws, which are continually updated through
er, enhanced its suite of technology solutions ongoing communication with regulators worldwide. The
designed to make customer verification and company said it also offers KYB to verify businesses using
S onboarding processes faster, easier and more business data from over 180 million sources to check against
secure. Noting that global enterprises frequently lose legiti- AML and NFC-based identity verification.
mate customers due to archaic and friction-filled onboard-
ing procedures, the company unveiled secure, accurate AI The company also described the following value-added
algorithms that cross-check user data and quickly identify services it provides:
fraudulent activities, stated Victor Fredung, CEO at Shufti • OCR: Capture any data from any structured or
Pro. unstructured document in seconds with instant
image-to-text data extraction.
"We are committed to providing businesses with the most • Multilingual support: Read and translate docu-
advanced identity verification solutions," he said. "With ments in over 150 languages and all types of identi-
our advanced KYC service, we are taking our commitment ties, nationalities, ethnicities and ages.
to the next level by offering businesses a reliable solution
that increases their onboarding rate to 100 percent whilst • 2-factor authentication: Increase security with
providing unbeatable security." Fredung additionally noted multifactor authentication, including biometrics
that the company's advanced KYC service guarantees and more.
increased onboarding rates by 100 percent, which has helped IDV solution suite
businesses confidently onboard customers with a reduced
risk of fraud whilst complying with KYC regulations. Shufti Pro noted it provides AI-based IDV solutions to
Advanced AI, ML solutions enterprises in the fintech, regtech, banking, and many
more industries, and offers IDV solutions to companies of
Unlike most companies in this space, Shufti Pro owns all of all sizes due to its global reach. It also prides itself on its
its KYC-related intellectual property, Fredung stated, noting "unprecedented" verification accuracy rate of 99 percent.
the company's tech stack is built on AI and ML algorithms The company is advancing its KYC service to revolutionize
for facial recognition (including liveness detection) and the onboarding process. Shufti Pro recently introduced
document verification. These solutions are easy to integrate a risk assessment service that analyzes client risk factors
and scale and are available in 230 countries and over 150 to identify and prevent fraud. The company also won
languages, he added. the World Financial Award for outstanding use of AI in
2022 and released its ID fraud report 2022, which predicts
"Our state-of-the-art, AI-powered identity verification identity fraud will continue to scale in the coming years.
works with any system, anywhere in the world to solve
your KYC, KYB and AML challenges," he said. "A one- Company representatives noted that Shufti Pro is a leading
stop 'Know Your Anything' solution is configured for peak IDV service provider that provides KYC, KYB, KYI, AML,
performance without surprises." As a leading provider of biometric verification and OCR solutions to accelerate
anti-fraud and KYC/AML/KYB solutions in Europe, Asia, trust worldwide. The company, which was established in
the Middle East and the United States, Shufti Pro offers a 2017, has six international offices and plans to continue
hybrid system that performs fast, accurate and compliant enhancing and expanding its suite of IDV products and
customer due diligence online, the company stated. solutions.

These AI-driven solutions, the company added, provide Company: Shufti Pro
legal and regulatory requirements to online services all Product: IDV Solutions
over the world, helping participants increase conversions,
prevent fraud, and ensure client trust. Website: https://shuftipro.com
Contact: victor.joshua@shuftipro.com

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