InScope-AML and Regula Partner to Bolster Anti-Money Laundering Compliance Across Europe and Beyond
According to Regula’s survey*, 65% of organizations worldwide use digital document verification as one of their main methods of identity checks. And 94% of those who haven’t yet, plan to employ digital document verification in the next year. Responding to this growing demand for reliable and frictionless online ID verification, Regula and InScope-AML are joining forces to offer businesses across Europe and Africa a comprehensive and trustworthy solution for KYC and AML compliance management.
Being the first step of nearly all KYC procedures, identity document verification is of paramount importance and thus requires robust technology. After market research, InScope-AML chose to incorporate Regula Document Reader SDK into its existing solution. This move allows the company to enhance their proposition and uplevel document identification and verification among all their customers.
As an integral part of the InScope-AML solution, Regula Document Reader SDK automatically reads and authenticates IDs regardless of their type or issuing country. This is possible thanks to Regula’s proprietary database of document templates, which is the largest in the world and contains over 13,000 templates from 247 countries and territories. Apart from reading and validating data, Regula’s solution also cross-checks information from various data fields in the document to spot any possible inconsistencies that may indicate fraud.
The technology partnership between Regula and InScope-AML has made AML and KYC compliance even simpler and more effective while providing a seamless experience to customers. Not only does the InScope-AML solution protect businesses from serious consequences, such as reputational and financial risks, but it also helps them manage clients’ data intelligently. This possibility is enabled by Regula’s technology which analyzes document data and alerts users if some pieces of information need special attention, like an expiry date that is nearly overdue or when there is a mismatch between data provided by the client and the data on a document.
By incorporating Regula Document Reader SDK, the InScope-AML solution reinforces its overall security. The integration ensures that all personal data remains within the InScope-AML environment, granting full control over sensitive information to end users. This capability empowers users to deploy the solution on-premises, further enhancing data privacy and security measures.
Asked to comment about this partnership, Matt Rizzo, InScope-AML Chief Executive Officer, said, “Over the past years, InScope-AML has built a strong reputation around simplifying AML compliance and helping companies in 8 countries automate their AML processes to stay on track with compliance. Our partnership with Regula will now add a more comprehensive level of verification and substantially improve the quality of the data.”
“Today, compliance is a new reality for nearly all businesses. To succeed in this duty, it’s crucial to find a trustworthy solution that gives technology and resources to organize the process properly and at the same time provides a frictionless and enjoyable user experience. We are happy to partner with InScope-AML and to be a part of this transformation where compliance stops being a burden and becomes yet another intelligent layer of protection against fraud,” says Ihar Kliashchou, Chief Technology Officer at Regula.
* The research was initiated by Regula and conducted by Sapio Research in December 2022 and January 2023 using an online survey of 1,069 Fraud Detection/Prevention decision makers across the Financial Services (including Banking and FinTech), Technology, Telecoms, and Aviation sectors. The respondent geography included Australia, France, Germany, Mexico, Turkey, the UAE, the UK, and the USA.
At InScope-AML we have made it our mission to make AML compliance and KYC onboarding simple and effective, while providing a seamless experience to your customers.
Backed by the combined power of Cleverbit Software and Agilis IT Business Solutions, with a team of over 60 developers, as well as our experts in anti-money laundering regulation, we have created a solution which can be adapted to the needs of any operation, at a price which businesses of any size can afford.
Learn more at inscope-aml.com.
With our 30+ years of experience in forensic research and the largest library of document templates in the world, we create breakthrough technologies in document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security or speed.
Regula was named a Representative Vendor in the Gartner® Market Guide for Identity Proofing and Affirmation in 2022.
Learn more at regulaforensics.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LumiThera Receives Notice of Award for National Eye Institute Grant to Support a 3rd Year Extension to LIGHTSITE III, the U.S. Multi-Center Clinical Trial for Treating Dry Age-Related Macular Degeneration27.9.2023 18:28:00 EEST | Press release
LumiThera Inc., a medical device company commercializing a photobiomodulation (PBM) treatment for ocular disorders and disease, today announced it is a recipient of a small business innovative research (SBIR) phase II grant from the National Institute of Health (NIH) and the division of the National Eye Institute (NEI) of up to $2.3M in funding over two years. The NIH/NEI grant supports an open-label human clinical trial in U.S. intermediate dry age-related macular degeneration (dry AMD) subjects that participated in the pivotal LIGHTSITE III trial. LIGHTSITE IIIB will treat patients for 4 rounds of treatment over fourteen months. Sham patients in the previous study will be able to cross over and begin PBM treatment. The LIGHTSITE IIIB extension trial follows the successfully completed LIGHTSITE III trial, which showed a sustained, mean increase in best corrected vision acuity (BCVA) letter score of >5.0 letters from baseline at the 13- and 24-month timepoints (p < 0.0001) using the Co
XPENG Shipped 750 Vehicles to Israel, Coming Closer to G9 and P7's Launch in October27.9.2023 17:02:00 EEST | Press release
XPENG (NYSE: XPEV and HKEX: 9868), a leading smart electric vehicle company, today announced that it has shipped 750 vehicles for the Israeli market, marking this the largest single batch of export this year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230927239985/en/ Hey XPENG, navigate to Israel! (Photo: Business Wire) The batch left the Guangzhou Port after the conclusion of a ceremony that included local customs officials and port representatives. “We're very grateful for the support of our partners and the local customs officials as we take a significant step toward launching in Israel," said Eric Xu, VP of International Markets, XPENG. "With the help of our local partner, Freesbe, the launch of our smart EVs is just around the corner—and we can't wait." The two models expected to be available in Israel, XPENG P7 and XPENG G9, have also been adapted to meet the preferences of local drivers. Together with Freesbe, wi
SoftServe Debuts Sage, the AI Pathfinder, at Money20/2027.9.2023 16:03:00 EEST | Press release
SoftServe, a premier IT consulting and digital services provider, will debut Sage, the AI Pathfinder, a financial intelligence consultant powered by Generative AI using NVIDIA Avatar Cloud Engine (ACE), at Money20/20 USA. Attendees can interact with the immersive experience offering financial decisioning and education at booth #13117 starting Oct. 22. Sage, the AI Pathfinder, is enhanced with a customized ChatGPT module combined with visual avatars and dynamic content. It features real-time information processing for interactive decision-making to offer personalized financial recommendations. Financial wellness is a struggle for 58% of Americans living paycheck to paycheck. Only 51% have more emergency savings than credit card debt. “A lack of financial literacy is a big part of this problematic equation,” said Filippa Noghani, AVP of Marketing at SoftServe and NYC Fintech Women Board Member. “Generative AI technologies create promising educational opportunities, especially for millenn
PPG’s COLORFUL COMMUNITIES program marks 500th project with makeover at Carnegie Science Center in Pittsburgh27.9.2023 16:00:00 EEST | Press release
PPG (NYSE:PPG) today announced the completion of its 500th COLORFUL COMMUNITIES® project – a colorful and transformational makeover at Carnegie Science Center in Pittsburgh. More than 80 volunteers marked the milestone by creating science-themed murals and applying fresh paint and color in learning spaces around the center. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230927335327/en/ PPG volunteers completed the 500th COLORFUL COMMUNITIES® project at the Carnegie Science Center in Pittsburgh, kicking off a month-long, worldwide celebration. (Photo: Business Wire) Completion of the 500th Colorful Communities project kicks off a month-long, worldwide celebration of the volunteers, community partners and individuals who have helped to bring color and brightness to PPG communities. From China to the Netherlands, additional projects are planned across the world to mark the milestone. “When we launched the Colorful Communities
Syntropy Announces Collaboration with Evidium to Advance Data-Centric Healthcare27.9.2023 16:00:00 EEST | Press release
Today, Syntropy, a partnership between Merck and Palantir Technologies Inc., announced a collaboration with Evidium, a developer of a healthcare platform that enables AI use in a responsible, reliable, and referenceable manner. The organizations will make end-to-end medical knowledge more computational and improve data quality for clinical research and practice. The coalition will be facilitated through Syntropy’s secure data collaboration platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230927301328/en/ Evidium’s Referenced AI platform will play a key role in transforming narrative-form information into AI-ready knowledge at the elemental level. This will allow clinical data to be disseminated and utilized with unprecedented scale and precision. Syntropy’s secure, collaborative ecosystem will enable researchers to review high-quality data, share insights, and apply their findings to clinical trials, helping to gener
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom