Press Release

Sopra Banking Software Chooses Shufti Pro’s Groundbreaking Identity Verification Solution for Swift and Reliable KYC

Richard Marley
July 01, 2021
3 minutes read
12600

July 1 2021, London UK – Shufti Pro, an AI-powered identity verification services provider today announces that it has joined hands with Sopra Banking Software, a global leader in financial technologies, to provide robust identity verification services to its users. Businesses and financial institutions can now integrate Shufti Pro’s services through the Sopra Banking Software platforms to enhance their business operations tremendously.

Shufti Pro offers award-winning KYC, AML, and KYB solutions to banks and various other enterprises from across the world. With the high accuracy rate of its robust identity verification services, Shufti Pro caters to the regulatory needs of many businesses. By patterning with Sopra Banking Software, Shufti Pro has opened doors for its customers and other partners to choose Shufti Pro’s efficient services for credible fraud prevention and swift customer onboarding.

Sopra Banking Software builds its solutions based on the latest technologies to support more than 1500 financial institutions across the globe, and help them in their digital transformation. This partnership with Shufti Pro further accelerates digital transformation for their customers and ensures integrity in their business operations. Financial industry partners of Sopra Banking Software can now utilize the state of the art services of Shufti Pro.

“With the combined effort of Sopra Banking Software and Shufti Pro’s top-notch identity verification solution, our clients and partners will accomplish streamlining digital customer onboarding, while complying with regulatory requirements. In the long run, it will enable them to drive operational costs down by a large scale with the avoidance of fraudulent access.” commented Guillaume Blot, Chief Digital & Innovation Officer – Senior Vice-President at Sopra Banking Software.

CEO of Shufti Pro, Victor Fredung, speaking about this partnership, “We are proud to join hands with yet another partner. Working with diverse businesses like Sopra Banking Software has always been a great experience. We aim to maintain this partnership by providing reliable and high-quality identity verification and KYC services to various financial institutions present on Sopra Banking Software’s platform for secure and smooth digital transformation”.

About Sopra Banking Software

Sopra Banking Software is the partner of choice for more than 1,500 financial institutions worldwide.

The rich variety of our solutions, the strength of our conviction and our passion for innovation enable us to support our clients on a daily basis and in their future projects, as well as in their goals regarding financial inclusion.

Our customers, based in over 80 countries around the world, benefit every day from our technologies and software, as well as the expertise of our 5,000 employees.

Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development. With more than 46,000 employees, the Sopra Steria Group generated a turnover of €4.3 billion in 2020.

For more information, follow us on LinkedIn, Twitter & Instagram or visit www.soprabanking.com

About Shufti Pro

Shufti Pro is a global identity verification services provider. It offers digital KYC, KYB, AML and face verification services globally. It uses both human intelligence and artificial intelligence in its technology to provide highly effective and accurate services. Shufti Pro verifies identities within 30-60 seconds on average with 98.67% accuracy. It has verified users in 232 countries and territories. Shufti Pro has been the first of its kind to provide identity verification services that cover a large number of countries.

Disclaimer: No warranty is herein provided that the information contained in this document is accurate, up-to-date, and/or complete. In no circumstance(s), does such information constitute legal or any other advice. Any person who intends to use, rely, pass-on, or re-publish the information contained herein in any way is solely responsible for the same. We suggest to verify the information and/or obtain expert advice independently if required.

Latest News

News
Danish Gambling Operator Reports Tipwin to the Police for AML Failings
About Sopra Banking Software
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Then danish gambling operator Spillemyndigheden has reported Tipwin to the police for violating the Danish Money Laundering act

According to the sources, Spillemyndigheden, the government office based in Odense, Denmark, has reported to the police that the business has failed to create risk assessments of retail bets with a lack of written policies on its retail offerings.

It is also worth mentioning that the operator also lacks complete business procedures and controls for the offerings based on land or in regards to money laundering until 25 May 2022.

In the official statement of the regulator to the police, it stated all the shortcomings of Tipwin in compliance with the anti-money laundering standards. It stated: “Spillemyndigheden notes that the rules on risk assessment, policies and business procedures are absolutely fundamental in the Money Laundering Act. By failing to prepare a risk assessment, Tipwin has not had a useful tool that has provided an overview and understanding of where and to what extent Tipwin is exposed to money laundering or terrorist financing, and what measures are in place are necessary to mitigate the risks involved.”

This clearly states that the german based gambling operator, Tipwin is exposed to the illicit crimes of money laundering and terrorist financing and has failed to comply with the AML regulations. The Danish regulator also focused on the lack of preparation from the operator on assessments of risks which are fundamental components of the anti-money laundering act.

Spillemyndigheden also added: “Preparing a risk assessment of the company’s business model is a very fundamental means of limiting the risk of money laundering. Tipwin has thus also not had policies and operational procedures that stem from the risk assessment. By failing to prepare a risk assessment, the Gambling Authority has therefore handed over the case to the police investigation.”

The authority also launched an injunction on the breach of rules and procedures in regard to the online casino and betting operations. With the main emphasis on money laundering, the regulator released a statement last month which reminded businesses in the industry of the obligations. It mentioned the regulations most firms are complied with, which are in order to prohibit the financial interactions with individuals, groups, legal bodies or countries.

In addition, Spillemyndigheden issued a 3 months deadline to Tipwin to sort out the situation.

Suggested Read: Danish Gaming Regulator Sanctions Unibet Over AML Violations

Sopra Banking Software Chooses Shufti Pro’s Groundbreaking Identity Verification Solution for Swift and Reliable KYC

About Sopra Banking Software

About Shufti Pro

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What Shufti Pro Offers

Let’s prove your

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Let’s prove your customer’s

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