Shufti beats 26 global competitors in the Video KYC challenge at MEFTECH KSA

Yesterday, February 26, Shufti was announced the winner of the Lulu money’s Video KYC for Customer Verification Challenge, conducted by Fintech Galaxy at MEFTECH 2020. MEFTECH is known as the biggest banking event in the Kingdom of Saudi Arabia in which businesses form all around the world take part. 

This year, 26 businesses across the globe took part in the Lulu Video KYC challenge; and in the very first round, Shufti made it to the top 6.

Lulu Money’s Video KYC for Customer Verification product demo day hosted by @TheSpaceKSA!#MEFTECH #Fintech #Fintechgalaxy #VideoKYC #innovation @LuLuExchange @MirnaSleiman @Quantafic2014 @TeamSignzy @GBRSedicii #Valify @WinjitTech @Oshabaan pic.twitter.com/4Y1FFT1GRt

— Fintech Galaxy (@FintechGalaxy) February 24, 2020

In the competition, Victor Fredung, the CEO of Shufti, presented the Video KYC product demo. This newly added service was specifically developed in alignment with Lulu Money’s challenge of secure customer onboarding.

Having 180 branches, Lulu exchange offers funds transfer and global trading services that need to be secured and streamlined with vigilant customer due diligence. For this purpose, Lulu threw an open Video KYC challenge for all businesses across the globe to present their services in MEFTECH KSA, 2020.

Lulu demanded primary features from the businesses in the challenge that includes global video verification of customers within 5 minutes, document and identity screening during video call, AML screening, optimized product for web and mobile SDK, and some others. 

And the winner of Lulu Money’s Video KYC for Customer Verification Challenge is @Shufti_Pro!
Congratulations @FredungVictor !!@MeftechKSA @LuLuExchange @MirnaSleiman #VideoKYC #Fintech #Innovation #Challenge pic.twitter.com/yxm1F7sN5L

— Fintech Galaxy (@FintechGalaxy) February 26, 2020

Shufti being the global ID verification service provider, accepted the challenge and won against 26 business entities.