More Than 500 Customers Onboarded in 3 Years – Shufti Spills the Beans

Shufti Ltd. began operations in 2017 and within three years, the company has onboarded more than 500 customers across the globe. It is not a piece of cake but taking risks, hard work, passion, and patience are some of the key elements that lead a business to success. As our CEO, Victor Fredung, said in an interview, “Passion about your work, ability to take calculated risks and a team is what helps you in achieving success.”

The three-year journey has been exhilarating for everyone at Shufti and penetrating into all corners of the world was not easy. So, are you ready to know some of our secrets behind such a high customer acquisition rate? Our co-founder, Shahid Hanif, and CEO have spilled the beans.

Simple Systems 

From day one, we have aimed at providing a seamless experience to the end-users as well as merchants. To ensure a swift identity verification process, we designed a customer-centric system so that the process is not tedious for anyone. Our integration options are as simple as they could be and we promise an experience that is frictionless instead of being a headache for businesses and end-users. Until now we have managed to scale 4.8/5 score on average for great customer experience. Moreover, we have bagged many awards for best product and state of the art customer experience.  

Recommended: How Can You Make Your Onboarding Process Cost-Effective? 

A Well-Thought USP

Our unique selling point is highly accurate identity verification results which nobody else has offered yet. We offer identity verification services across 230+ countries and territories supporting more than 150 languages. Moreover, the results delivered are highly reliable with a market-leading accuracy rate of 98.67%. Apart from this, our AI is the fastest and takes about 30 seconds to complete the identity verification process. 

Adaptability 

We aligned our services with the leading industry trends to come up with better solutions for verifying identities digitally. First, we enhanced our artificial intelligence models and as of 2021, we have five new products. All these new offerings were introduced to satisfy variable compliance needs in different areas of the world.  For instance, the AUSTRAC amendment for remote identity verification led us to offer video interview KYC and now, the rapidly increasing use of NFC technology has encouraged us to introduce NFC-based identity verification. 

Recommended: NFC – Building New Grounds for Identity Verification

Enhanced Databases

To ensure the perfect identity verification solutions, we enhance our databases on a regular basis. For example, our AML dataset includes international watchlists, PEPs and sanction lists, data from FATF, GDPR and OFARC, fitness and probity, and warnings and regulatory enforcement. Now, we are planning on adding more databases to make sure our merchants deal with legitimate identities only. 

Global Expansion 

Shufti has not only expanded virtually across the globe but we have physical presence in many regions of the world. Remote and local teams are available for continuous and prompt support. We have offices in the United Kingdom, Cyprus, Sweden, and Dubai. Now, we also have an office in Ukraine. Furthermore, we have teams working remotely worldwide.