Product: IDV Solutions
Company: Shufti Pro
Shufti Pro, an ID verification service provider, enhanced its suite of technology solutions designed to make customer verification and onboarding processes faster, easier and more secure. Noting that global enterprises frequently lose legitimate customers due to archaic and friction-filled onboarding procedures, the company unveiled secure, accurate AI algorithms that cross-check user data and quickly identify fraudulent activities, stated Victor Fredung, CEO at Shufti Pro.
"We are committed to providing businesses with the most advanced identity verification solutions," he said. "With our advanced KYC service, we are taking our commitment to the next level by offering businesses a reliable solution that increases their onboarding rate to 100 percent whilst providing unbeatable security." Fredung additionally noted that the company's advanced KYC service guarantees increased onboarding rates by 100 percent, which has helped businesses confidently onboard customers with a reduced risk of fraud whilst complying with KYC regulations.
Unlike most companies in this space, Shufti Pro owns all of its KYC-related intellectual property, Fredung stated, noting the company's tech stack is built on AI and ML algorithms for facial recognition (including liveness detection) and document verification. These solutions are easy to integrate and scale and are available in 230 countries and over 150 languages, he added.
"Our state-of-the-art, AI-powered identity verification works with any system, anywhere in the world to solve your KYC, KYB and AML challenges," he said. "A one-stop 'Know Your Anything' solution is configured for peak performance without surprises." As a leading provider of anti-fraud and KYC/AML/KYB solutions in Europe, Asia, the Middle East and the United States, Shufti Pro offers a hybrid system that performs fast, accurate and compliant customer due diligence online, the company stated.
These AI-driven solutions, the company added, provide legal and regulatory requirements to online services all over the world, helping participants increase conversions, prevent fraud, and ensure client trust.
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 protection laws, which are continually updated through ongoing communication with regulators worldwide. The company said it also offers KYB to verify businesses using business data from over 180 million sources to check against AML and NFC-based identity verification.
The company also described the following value-added services it provides:
Shufti Pro noted it provides AI-based IDV solutions to enterprises in the fintech, regtech, banking, and many more industries, and offers IDV solutions to companies of all sizes due to its global reach. It also prides itself on its "unprecedented" verification accuracy rate of 99 percent. The company is advancing its KYC service to revolutionize the onboarding process. Shufti Pro recently introduced a risk assessment service that analyzes client risk factors to identify and prevent fraud. The company also won the World Financial Award for outstanding use of AI in 2022 and released its ID fraud report 2022, which predicts identity fraud will continue to scale in the coming years.
Company representatives noted that Shufti Pro is a leading IDV service provider that provides KYC, KYB, KYI, AML, biometric verification and OCR solutions to accelerate trust worldwide. The company, which was established in 2017, has six international offices and plans to continue enhancing and expanding its suite of IDV products and solutions. 
Website: https://shuftipro.com Contact: victor.joshua@shuftipro.com
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