Bonorum joined hands with Shufti to run a secure trade platform

London, UK – (January 2020) Shufti partnered with Bonorum to help them perform efficient KYC/AML screening on their community of businesses and investors. 

Shufti proved yet again that its solutions hold the potential to serve a diverse clientele. It partnered with Bonorum, a next-generation DLT-based trade finance platform focused on serving corporates and SMEs. Bonorum will align contributors with enterprises by providing a more efficient alternative to traditional trade finance. In this way, Bono will help businesses secure the financing they need while offering contributors access to the trade finance sector. 

Whenever such a diverse community is developed online, the need for strict due diligence measures is necessary. Bonorum’s business model requires onboarding corporates and investors to their digital platform, so it is critical that they implement effective fraud prevention measures. They also have to ensure that their customers are who they claim to be. To achieve this transparency, Bonorum knew that traditional manual KYC/AML measures were too slow and unreliable for their business model to succeed. 

Shufti proved to be the best solution for their need. It provides global coverage in its identity verification services and helps businesses attain a global risk cover. Shufti can verify the individuals, as well as businesses with high accuracy and the customers of Bonorum include both. Shufti will be providing document verification services to Bonorum. It will verify the identity documents in real-time assisting the company in onboarding customers swiftly and safely. 

Expressing the confidence towards this partnership, the founder of Bonorum, Bunty Agarwal said, 

“We turned to Shufti to provide Bonorum with the capability of doing automated KYC/AML checks for our users in over 150 countries using multiple types of identification documents. Shufti’s new business KYC service will help us with enterprise verification as we continue to grow our business and expand our services.”

Shufti has proved time and again that it has the potential for businesses with different business models. Its solutions are designed keeping in view the global need for KYC/AML compliance and risk prevention. 

Victor Fredung, CEO of Shufti expressed his excitement towards this partnership and said, “Shufti is very enthusiastic to onboard yet another great customer. We aim to maintain this partnership for a longer period by providing them our best services. Working with diverse businesses such as Bonorum is always a great experience.”

About Bonorum 

Bonorum is a technology platform that assists businesses in secure trade finance. Bonorum aligns Contributors with Enterprises by providing a low-cost alternative to traditional Trade Finance. The Bonorum platform enables contributors to share in the commercial success of Enterprises. Transactions are fully securitized on the blockchain to provide Contributors with transparency and a permanent record of operations and to digitize paper-based processes such as KYC, document authentication, file storage, credit histories, and even payments.

About Shufti

Shufti is an identity verification service provider that offers KYC and AML solutions to worldwide clients. Using a hybrid approach of AI and HI technology, Shufti delivers results within 30 seconds with accuracy as high as 98.67%. Having verified users in over 232 countries, Shufti is a pioneer in IDV services to cover a large number of countries.

Contact [email protected] to get on board!