Dynamic Works has added real-time know your customer (KYC) and anti-money laundering (AML) services to its customer-relationship management (CRM) platform Syntellicore, thanks to a collaboration with Shufti Pro.
The Syntellicore platform its primarily designed to suit the needs of foreign exchange (forex) brokers. The CRM system focuses on providing customer and partner onboarding and retention, brokerage management and reporting services.
Shufti Pro provides a KYC verification service that performs online identity verification and AML screening services. The solution is based on artificial intelligence, which is one of the reasons why Dynamic Works approached the company to integrate its solutions with its CRM platform.
Commenting on the partnership, the Chief Executive Officer (CEO) from Dynamic Works Angelos Gregoriou said: “In our continuous effort to support our clients and offer them the very best in technology we are delighted and excited to have established [a] partnership with Shufti Pro. With our partnership with Shufti Pro, we are embedding a rich selection of approved automated Document, Name, ID, Address, DOB, Facial and AML verification in Syntellicore, our core Financial CRM/Back Office/Traders Room Solution.
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“We are now empowering our solution with more automation aiming to speed up customer approval procedures, provide accuracy and substantially reduce back office costs; the dream of every Financial firm.”
Money Laundering in the Spotlight
With anti-money laundering regulations tightening and customer verification becoming increasingly important for brokers, the partnership allows Dynamic Works to provide a more secure CRM platform, the statement said.
There have been numerous headlines in recent months regarding large banks getting caught up in money laundering scandals, highlighting the importance for brokers to know where client funds are coming from.
Shufti Pro’s CEO Victor Fredung added: “Our AI-based verification software is used by a diverse set of companies to fulfil their KYC and AML compliance obligations. We verify users within 30-60 seconds through document verification and facial recognition scans.
“Our AML screening services screen individuals from all major sanction lists around the globe. Working with Dynamic Works Syntellicore to provide a more automated CRM solution for forex companies was a unique and illuminating experience.”