Binary options technology provider TRADOLOGIC has announced that the company has entered into a partnership agreement with Digital KYC provider iSignthis. The move follows up on a number of circulars recently issued by CySEC, which have effectively limited the functions of sales representatives at forex and binary options brokers regulated in Cyprus.
Responding to the need to automate more processes, TRADOLOGIC is aiming to deliver to its white label clients a solution which can verify the identities of clients digitally. The solution which iSignthis delivers to the white label clients of the binary options technology provider fully complies with 4th AML (anti-money laundering) Directive and has PSD2 compliance.
This partnership is a logical next step in our efforts to automate various aspects of the business
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The integration of the service is expected to be completed within the next two to three months. The clients of TRADOLOGIC are expected to take advantage from the services of iSignthis by late 2016.
The KYC solution will make life easier for brokerages who are willing to engage in more automation. The latest trend in the binary options and forex industry has accelerated after an announcement by CySEC, which has greatly limited the capacity of customer service representatives.
The CEO of TRADOLOGIC Michael Golod commented on the deal: “This partnership is a logical next step in our efforts to automate various aspects of the business, such as marketing, onboarding, KYC. iSignthis will not only reduce the manual work of our clients but will add an extra layer of security.”