Shufti Celebrates 5 Years of AI-Powered IDV Innovation That’s Accelerating Trust Worldwide
London, UK – Oct 31, 2022 – Shufti, the leading provider of AI-powered end-to-end identity verification, eKYC, and AML solutions, is celebrating its 5th anniversary on October 31st. Headquartered in the UK, the company provides global coverage with support for over 150 languages. It has expanded its top-notch IDV services to more than 700 international clients in mainstream industries such as finance and banking, iGaming, e-commerce, crypto, healthcare, and education, to name a few.
Over the past half-decade, the company has continuously achieved new milestones, witnessed year-over-year growth of 100%, and expanded its operations to hundreds of countries and territories. In the past year, Shufti launched Forensic Document Verification which utilises AI along with handwriting validation, UV ray examination, microscopic analysis, and OCR to detect counterfeit documents with a 99% accuracy. The company also rolled out its Customer Risk Assessment (CRA) and Customer Risk Scoring (CRS) solutions providing businesses with effective tools to conduct an in-depth analysis of the risk associated with potential customers.
Whether it be COVID-19 or the Russian invasion of Ukraine, Shufti promptly stepped forward in playing its part to help those in need by offering expertise, know-how, and technology. The company took initiative and showed humanitarian support to Ukraine, announcing 10 Million free Verifications for aid agencies to securely identify people entering the country. And again during the pandemic, Shufti created an end-to-end identity and vaccination certificate verification solution enabling businesses to confidently and safely re-engage with customers in person. The company also won the trust of Louisiana Gaming Control Board and West Virginia Lottery Board to legally operate in the United States, adding to an already impressive list of 14 other US states.
Expressing his thoughts on its 5th anniversary, Shufti’s CEO & co-founder, Victor Fredung stated, “Shufti was launched to facilitate global clients with the market’s most reliable IDV solutions. Delivering authentic KYC, KYB, KYI, and AML services in more than 230 countries and territories with an accuracy rate of 99%, we are proud to say that it is just the beginning. Achieving unquestionable worldwide recognition and an international presence, Shufti has one goal, to provide its customers with swift, cost-effective, and 100% accurate IDV within milliseconds.”
“As we celebrate Shufti’s 5th anniversary, I want to thank all our clients, partners, and team members without whom it could not be possible. We are determined to work even harder and smarter to build trust between businesses and customers and continue to innovate in the space of IDV and compliance,” stated Shahid Hanif, Founder and CTO of Shufti.
Earlier this year, Shufti raised $20 Million in Series A funding to accelerate its international expansion, enhance its IDV solutions and expand the company’s compliance suite. The company has been recognised for its accurate, swift, and authentic IDV solutions by securing numerous prestigious awards. The latest being the Global Business Reviews Magazine Awards 2022, Tracxn Emerging Startups 2022, International Business Magazine Awards 2022, and Ultimate FinTech Awards 2022.
From what started as a single line of code and a dream by the company’s founder and CTO, Shahid Hanif, Shufti has come a long way with its six international offices serving over 700 clients. The configurable IDV services offered by the company empower organisations to be agile, and rapidly adapt to technological advancements in a wide scope of industries. Businesses globally have successfully relied on Shufti for providing millions of secure ID verifications and stopping tens of thousands of potential fraud attempts. In the long run, the company is deeply committed to continuing to innovate in the IDV compliance industry.
About Shufti
Shufti is a leading identity verification service provider offering KYC, KYB, KYI, AML, and OCR solutions that are accelerating trust worldwide. The UK-headquartered company has five international offices and has launched a suite of 17 complimentary IDV products and solutions since its inception in 2017. With the ability to automatically and securely verify over 9000 ID documents in more than 150 languages, Shufti proudly serves customers in 230 countries and territories.
For more information, please contact:
Graeme Rowe
CMO | Shufti
[email protected]
+44 7909 447255
