Multi-asset brokerage IronFx has entered into a strategic partnership with iSignthis (ASX: ISX), integrating the group’s Paydentity product suite in an effort to help bolster its identity and payments capabilities, according to an IronFX statement.
iSignthis (ASX: ISX) provides a wide range of services, including digital, automated AML/CTF KYC identity proofing. IronFX will be utilizing the group’s Paydentity services, which include Digital KYC, Strong Customer Authentication, Fraud Prevention, Payment Gateway and Card Tokenisation.
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Despite the freshly inked agreement, the assimilation is slated to result in the rollout of the live service within three months time. The fortified identity services will be integrated into the full spectrum of IronFX’s product suite, which currently features foreign exchange (FX), precious metals, futures, and other instruments.
In particular, iSignthis’ systems will also aim to enhance and strengthen the group’s existing systems to enable a complete identity and payments solution in one unified package. This will in turn result in the usage of a service that will be made available to new markets. Furthermore, IronFX is anticipating a reduction in onboarding time of paid customers as a result of the Paydentity solution, which is targeting an interval of 3 to 5 minutes.
Finally, IronFX will also look to support several new authentication measures, touching on all online transactions via iSignthis with additional features of transaction monitoring. This includes an emphasis on threshold management and advance reporting.