In collaboration with Fourthline, we will further pursue opportunities to digitize the financial services industry. Fourthline is a leading KYC provider that complements our solutions.
As one of Europe's rapidly expanding fintech firms, Fourthline aids European banks and regulated financial institutions in combating financial crime with its comprehensive Know Your Customer (KYC) solution. Using cutting-edge algorithms and AI technology, Fourthline swiftly verifies a customer's identity, completing over 210 checks on ID documents, biometric data, residence, and sanction lists within one minute. By merging advanced KYC technology with top compliance expertise, Fourthline verifies millions of new customers annually, offering a comprehensive solution to comply with AML regulations across all European countries.
With all technology developed in-house, Fourthline's AI models are continuously fine-tuned to enhance accuracy, detect 60% more fraud than competitors, and maintain a remarkable 99.98% precision rate.
As a regulated Payment Institution under the Central Bank of the Netherlands (DNB), Fourthline adheres to the same standards as its clients. Fourthline's solutions and infrastructure pass the scrutiny of the world's most trusted financial institutions for data privacy, IT security, business continuity, and local AML compliance. Fourthline customers strengthen their compliance with complete data processing in the EU, local legal opinions from reputable firms, and years of experience in navigating local regulatory regimes. Fourthline's solution can be used for many use cases; some examples are End-to-end bank grade KYC, Simple ID&V, Proof of life, Authentication/Rebinding, KYC remediation, and Proof of address.
Want to learn more about this partnership? Read the full announcement.
