Shufti Nominated for Yalla Fintech 2020 Award

Shufti, an identity verification service provider offering KYC verification and AML screening has been nominated for Yalla Fintech 2020 award hosted by Fitech Galaxy. Shufti has been nominated for simplifying the customer onboarding procedure through their solutions. 

Yalla Fintech 2020 Hackathon is an event hosted by Fintech Galaxy to amplify the innovative solution and to make a difference in the financial sector of Arabian region. Due to the Covid-19 pandemic, the world has been set back many years. There has been an unwanted strain on businesses and governments. Governments are looking for digital means to cater to them in these tough times. Financial sector is one of the key industries that require digital technology for boosting their businesses. 

Yalla Fintech 2020 Hackathon is an inspiration for innovators and regulators from the Arab region to come up with the best solution for the major issues in financial institutions, especially during the pandemic. Customer onboarding has been one such issue. During the COVID-19 pandemic, performing the KYC on each and every customer became a demanding task for the businesses as they struggled to manage their remote operation. Shufti offered their AI-powered KYC solution that helped many businesses to meet their regulatory requirements and fight fraud. For this, Shufti has become one of the finalists for the Digital KYC award in the Yalla Fintech 2020 Hackathon. The winner will be announced on 15th December 2020.

Shufti is one of the leading companies in the identity verification service industry. Their KYC verification and AML screening solutions are powered by both artificial and human intelligence to give it an unmatchable accuracy rate of 98.67%. Shufti offers their solution in 150+ languages in around 232 countries and territories, making it the first one of its kind to expand on such a global level.