Opal Joins Hands with Shufti to Automate the KYC Process for Customer Onboarding

Originally Published at PR Log. 

CANARY WHARF, UK – NOV. 29, 2021 – End-to-end regulated payments and financial solutions provider Opal has entered into a strategic partnership with one of the world’s leading and most advanced digital KYC providers, Shufti to deliver a seamless customer experience during onboarding. 

Trusted as a financial technology platform, Opal delivers transparent, convenient, and low-cost payment solutions powered by robust technology. Global IDV provider, Shufti offers award-winning KYC and AML solutions to banks and other financial institutions from around the world. The high accuracy rate of its identity verification services further fortifies the globally acclaimed KYB provider to cater to the needs of many businesses. Shufti’s KYC solution verifies the identity of customers in real-time during customer onboarding that helps businesses to prevent identity theft, money laundering, terrorist financing, and other financial frauds. 

The financial solution provider Opal that promises a convenient user journey has partnered with Shufti to offer a pleasant experience to their customers. Opal can prevent the threats of money laundering and other financial scams by performing robust identity verification of customers in seconds. Shufti’s IDV solutions are designed for businesses to comply with the regulations and avoid non-compliance penalties. 

‘At Opal, we design our platform and user journey to cater especially to cross-border trade and businesses aspiring for international reach. Such international businesses bring complexity when it comes to KYC,” stated CEO and Co-founder of Opal, Lim Ming Wang. “Shufti helps us ensure our customers experience a fuss-free pleasant experience at the onboarding stage. It set us up in the right direction to provide our customers with additional positive experiences when they subsequently perform their transactions with us.”

Speaking on the partnership, Victor Fredung, CEO of Shufti said, “businesses like Opal that are committed to assisting SMEs in expediting business growth with its effective financial solutions need IDV solutions more than ever to fulfill their business goals. Providing a seamless identification process is a key pillar of our business offerings. Our automated solution will enable Opal to mitigate identity frauds that often occur with fast-growing businesses.”

About Opal

Opal’s technology and design are built to best serve companies with international trade or business with transparent, safe, and easy to use financial-business solutions. Opal is a leading provider of end-to-end, regulated payments and financial solutions based on robust, proven platforms and proprietary technology. Opal offers businesses a broad set of financial solutions (consisting of multicurrency digital business accounts, cross-border payments to 100+ countries, collections, escrow, and a suite of financing/credit products) to help clients meet their diverse needs in today’s ever-changing financial and business environment. 

Opal aims to provide financial clarity to SMEs in Asia by capturing a 360-degree view of the business to leverage data and provide novel ways to serve SMEs in friendlier terms. This is especially crucial during the pandemic when most SMEs may not be able to stand up to the traditional assessment. 

For more information, 

Benson Ang
Sales & Partnerships Lead | Opal (opalpayment.com)
[email protected]
+65 9327 7607

About Shufti 

Shufti is globally acclaimed for providing digital identity verification solutions. Its AI-based IDV services have an accuracy rate of 98.67% and are offered in 240+ countries and territories. By supporting 3000+ identity documents in 150+ languages, Shufti has proven to be the best fit for eliminating the risk of financial and identity fraud while maintaining regulatory compliance with GDPR and AML/KYC obligations.

For more information, 

Damien Martin
Marketing Executive | Shufti
[email protected]
+44 1225290329