iSignthis Ltd (ASX:ISX), a company specialising in dynamic, digital AML/CTF KYC identity proofing, today announced that it has entered into an agreement with Cyprus based, regulated online forex and CFD broker, Leverate Financial Services.
iSignthis will be providing Leverate with its full Paydentity solution including digital KYC, strong customer authentication, fraud prevention and payment gateway services. Integration for the multi-year service is set to start immediately with the service expected to be live within the next 3 months.
Today’s announcement comes less than a month after the firm signed up Valutrades, a provider of FX and CFD trading, to integrate its services and meet regulatory requirements.
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Leverate provides a brokerage solution to around 100 brokers who utilise its solution and in excess of 100,000 traders who make up its social trading pool. The iSignthis service will be provided to Leverate’s direct operations under this agreement.
Sami Mana, General Manager, Leverate commented, “iSignThis brings us the ability to offer automated compliance to all our clients regardless of size. This is the future of our industry as every broker needs to optimize their activities and offer exceptional services to the their customers. This is another step in our overall strategy to give our clients benefits and advantages in the market today and for the future”.
The Paydentity solution will offer Leverate a seamless integration by being able to streamline services by converging payments and identity. Leverate will be able to extend its global reach with the ability to verify and on-board any of the world’s 3.5 billion card and bank account holders.
Via iSignthis, Leverate will be able to authenticate all online transactions with the additional features of transaction monitoring, threshold management and advanced reporting. iSignthis will also provide Leverate with compliance to the European Commission’s 4th Anti-Money Laundering Directive and the 2016 June CySec regulatory update.