Shufti’s Latest White Paper Unveils MENA’s Path to Financial Innovation
Initially Published on PR Log
London, UK – July 20, 2023 – Shufti, a trusted global partner in delivering unmatched identity verification services, delivers an extensive white paper providing insightful information and data on how to improve the digital finance experience for customers in the Middle East and North Africa. The white paper uncovers how to increase brand loyalty and customer retention by implementing fast, compliant KYC & AML in a regulation-heavy environment.
The Covid-19 pandemic reinforced the speed of digital transformation in the MENA region, leading to widespread reliance on technology. However, this rapid shift to the digital landscape has also made the region an attractive target for players with illegal intentions.
Here are some key findings outlined in the white paper:
- Over the past year, over 90% of MENA foreign residents bought products online.
- The Financial Intelligence Unit of UAE reported over $625 million was confiscated from money laundering intended to support terrorism.
- Optimising the onboarding flow can boost profits by 25% to 95% and reduce customer churn.
“We are thrilled to share our latest white paper, which explores the intricacies of the digital financial landscape in the MENA region,” expressed Victor Fredung, CEO of Shufti. “MENA’s remarkable digital renaissance serves as a constant inspiration for us, and we are committed to simplifying compliance processes in this hyper-regulated market.”
Shufti has set the bar higher for industry collaboration by recently unveiling a white paper on the iGaming landscape. It has also attained SOC 2 Type 2 Certification, reinforcing its commitment to providing a secure environment. Additionally, the introduction of the Risk Assessment Service showcases the company’s dedication to fighting fraud and managing risks effectively.
About Shufti
Shufti is a market leader in building organisational trust through its identity verification services, including KYC, KYB, KYI, AML, biometric verification, and OCR solutions. The company aims to empower global businesses with its 17 different IDV products, offering secure verification of 10,000+ ID documents in more than 150+ languages. Since its inception in 2017, Shufti has expanded to six international offices, helping businesses in 230+ countries and territories.
For more information, please contact
Paul Keene
Snr. Digital Marketing Manager | Shufti
[email protected]
+44 020 3435 6498
Market Pro
Marketing Partner | Shufti
[email protected]
