Bermuda’s Financial Sector Boosted by Real-Time KYC Solution
Hamilton, Bermuda - In a move aimed at strengthening financial integrity and combating money laundering and terrorist financing, Shufti Pro, a leading identity verification solutions provider, has launched its real-time Know Your Customer (KYC) solution in Bermuda.
Strengthening Financial Integrity with Advanced Technology
The Shufti Pro KYC solution is designed to help banks, financial institutions, and non-financial businesses operating in Bermuda verify the identities of their customers quickly and accurately. The platform utilizes advanced technologies such as machine learning, artificial intelligence, and optical character recognition to authenticate customer identities and detect potential fraud.
Compliant with International Regulations
Under the guidelines of the Financial Action Task Force (FATF), the Caribbean Financial Action Task Force (CFATF), and the Office of Foreign Assets Control (OFAC), Shufti Pro’s KYC solution ensures that businesses operating in Bermuda comply with international anti-money laundering and combating the financing of terrorism standards.
Verification Features
The solution verifies a range of identification documents, including:
- Passports
- Driving licenses
- Credit/debit cards
Using advanced algorithms to detect forgery, tampering, and other forms of fraud. The platform also provides facial recognition technology, allowing businesses to verify customer identities remotely.
Quotes from Shufti Pro
“We are proud to offer our KYC solution in Bermuda, which will enable financial institutions and businesses to operate with greater confidence and transparency,” said a spokesperson for Shufti Pro.
“Our solution is designed to help prevent identity theft, fraud, and other financial crimes, while also improving the overall efficiency of customer onboarding processes.”
Solutions Tailored to Meet Specific Needs
The Shufti Pro KYC solution has been specifically tailored to meet the needs of businesses operating in Bermuda’s financial sector, including:
- Banks
- E-commerce platforms
- Ride-sharing services
- Online service providers
Additional AML Screening Services
In addition to its KYC solution, Shufti Pro also offers advanced Anti-Money Laundering (AML) screening services for businesses operating in Bermuda. The AML solution uses global watch-lists and is updated every 15 minutes to ensure that customers are not linked to high-risk individuals or entities.
Conclusion
Shufti Pro’s real-time KYC and AML solutions have been designed to help businesses operating in Bermuda strengthen trustful business relationships, reduce the risk of financial crimes, and improve their overall compliance with international regulations.