Morpho Labs Partners with Shufti to Perform KYC/AML-Compliant ID Checks

Originally Published at PR Log. 

CANARY WHARF, UK – Nov. 3, 2021 – Morpho Labs, a software company committed to the development of open-source blockchain programs, and Shufti, an AI-powered ID verification service provider, have signed a strategic partnership to perform KYC and AML checks on investors that wanted to fund the company with cryptocurrencies. 

With global regulators imposing stringent KYC and AML requirements on the cryptocurrency industry in recent years, effective KYC solutions have become vital for streamlining compliance. AI-powered KYC and AML services delivered by Shufti will assist Morpho Labs in maintaining compliance with regulatory requirements. 

Automated ID verification solutions offered by Shufti will monitor Morpho Labs’ investors, assuring the mitigation of financial frauds through cryptocurrencies. Shufti’s AML screening solution verifies the crypto users by screening them against Politically Exposed Person (PEP) lists, global sanctions, and criminal watch lists gathered by regulatory bodies such as FINTRAC, FATF, AUSTRAC along with others. With the help of these services, compliance targets and digital ID fraud prevention will be achieved seamlessly in one go. 

“Shufti definitely helped us to perform KYC and AML checks for funds that invested In Morpho Labs with cryptocurrencies” stated CEO of Morpho Labs Paul Frambot.

Commenting on the partnership, the CEO of Shufti, Victor Fredung said, “We are excited to join hands with Morpho Labs in delivering state-of-the-art KYC and AML solutions for the crypto industry. We believe this collaboration will certainly mitigate the risks of identity and monetary fraud for Morpho Labs and will assist them in staying compliant with global KYC and AML requirements”. 

AI-based identity verification solution provider Shufti currently offers ongoing AML monitoring and KYC services to more than 500 businesses worldwide, in industries including finance, banking, crypto, and fintech among others. The company has extended its services to 230+ countries and territories and has won various awards owing to an accuracy rate of 98.67%. 

About Morpho Labs 

Morpho Labs is developing open-source blockchain programs for a fairer and more transparent financial system.

About Shufti

AI-powered digital identity verification solution provider, Shufti, offers KYC, KYB, and AML services in 230+ countries and territories. The company provides solutions built on the principles of trust, authenticity, and transparency. Given the ability to verify 3000+ documents, Shufti authenticates documents in 150+ languages with an accuracy rate of 98.67%. Through its AI-driven efficient verification services, the company aims to create a secure digital marketplace devoid of identity theft and other fraudulent activities. 

For more information, 

Damien Martin

Marketing Executive | Shufti

[email protected] 

+44 1225290329