Turning Compliance into Competitive Advantage

In financial services, compliance is often viewed as a tick box, a regulatory burden that is feared to come at the cost of customer drop-out, added friction, and lost growth opportunities. But what if the same rules and requirements could become a launchpad for growth? Fortress Core Connect faced similar challenges for its white-labeled clients, who needed not only to streamline compliance for their customers but also to operate with added confidence and security. These requirements ultimately drove Fortress Core’s partnership with Shufti.

In this episode of Partner Spotlight, we hear from Dany Mawas, CEO of Fortress Core Connect, and Tom Gadsden, VP of Product at Shufti, as they share how their partnership is helping businesses solve core KYC/AML Compliance challenges.

Balancing Compliance and Expansion

Fortress Core Connect serves financial service providers like brokers, asset managers with the necessary resources, technology, and business infrastructure, making it easier for them to scale globally. Complying with evolving regulations while providing a smooth and secure onboarding process to its end users is one of the challenges firms are facing in this fast-paced technological environment. 

Dany highlighted three key factors that influenced Fortress Core Connect’s exclusive selection of Shufti, namely: seamless integration, competitive pricing, and a standout team. For Tom, these key factors reflect Shufti’s core mission that makes compliance more manageable while allowing businesses to concentrate on growth.

From Barrier to Breakthrough

For many firms, regulatory compliance feels like a constant battle, which is complex, costly, and time-consuming. Lengthy KYC processes induce high dropout rates, which in turn add barriers to customer onboarding. These barriers hinder growth for businesses that don’t have robust and customizable KYC solutions to meet these challenges. Dany mentioned that Fortress Core Connect sees the potential in streamlining KYC checks, which convert the above-mentioned barriers into breakthroughs. Having a KYC solution that addresses these challenges not only provides customers with a smooth interface while verifying their identity but also helps businesses in complying with the evolving regulations, saving millions in compliance fines.

Solving Problems with Entrepreneurial Spirit

Meeting compliance obligations in various sectors where regulations are shifting across the jurisdiction, requires more than just building technology. It requires an ability to think creatively and adaptively. This is necessary to solve the core problem of scaling effortlessly while meeting compliance obligations.

He explained that this problem-solving mindset is what enables organizations to navigate the complex challenges of serving clients across diverse markets. This perspective ultimately led Fortress Core Connect to partner with Shufti, as they found the right technology and team with a customer-centric mindset.

Building a Smooth Customer Experience

The toughest hurdle for all kinds of businesses is scaling across borders. Different countries have different regulations; what works in one country may fail in another, and very often these regulations can conflict with each other, adding another layer of difficulty in compliance mechanisms. This challenge has limited many firms from expanding globally.

When discussing Fortress Core’s plans for expansion in Europe and the Middle East, Dany acknowledged that they needed a solution that could fit the customer flows in each country. This is where Shufti’s unique journey builder plays a crucial role. It allows businesses to customize the verification processes and user interface to match specific business needs while meeting regional compliance regulations.

The Bigger Picture

What stands out from this episode is that compliance neither has to be the enemy of innovation nor the barrier to the expansion of businesses across the globe. Instead, the choice of the right technology and partnership turns it into a driver of trust, scalability, and long-term success.

For Fortress Core, teaming up with Shufti means more than just meeting the compliance regulations for their clients but building a future where businesses can grow globally without fear of losing revenue to fraud, fines due to non-compliance, or customer drop-out to compliance friction.

As our host rightly pointed out in the end, “If you want to go fast, go alone; if you want to go far, go together.”

Listen to the full conversation to learn how Fortress Core Connect and Shufti are ready for the future of compliance and financial services.