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Consumers expect high-speed and simple services making financial players search for new, improved baking methods to beat their competition. Especially in the Fintech industry, personalized and enhanced user experience turns it into the preferred choice over traditional banking services.
While some financial services use a mix of traditional methods and innovative algorithms, other services, such as applying for a loan, can be done fully digitally and without needing to head to the physical branch.
This industry shake-up pushed many businesses to turn to technology. Simplifying digital financial transactions was the primary goal for RBFC Global. The swift and secure payment solution provider from New Zealand claims to have a different approach from a bank or trading exchange.
According to RBFC Global, using simplified yet highly technical software helps the company offer its customers an International Financial Solution “totally unique.” The business provides Bank Wire Transfers in all major global currencies and Account-to-Account Transfers between its users.
Some argue that today’s Fintech companies have a slight disregard for the law. In these scenarios, fines for non-compliance are at stake, along with risks of data loss. A recent report from Consolidated Technologies shows that 94% of companies that experience data breaches don’t recover.
Daniel Ramirez, Chief Compliance Officer at RBFC Global, explains that ensuring security helps the business grow and avoid legal damages: “Easy-to-use applications and the payment processing time play an essential role in our organization. Despite that, the most important part is the security and compliance aspect.”
Despite the changes in the banking industry, this year, Mastercard revealed that only 14% of Americans trust the process of linking a fintech account to their primary bank account. iDenfy, the Lithuanian fraud prevention, and identity verification startup claim that it’s possible to switch up this mindset by implementing safe, automatic biometric identity verification services.
Recently, both companies, iDenfy and RBFC Global joined forces to form even safer grounds for the payment solution provider’s clients. iDenfy’s remote ID verification solution that’s powered by artificial intelligence helps prevent fraudulent transactions and suspicious users from entering RBFC Global’s platform.
“Ensuring safety for your customers shouldn’t be left out of the picture. That’s why we focus on providing a simple four-step digital identity verification procedure, guaranteeing effective fraud prevention and complete compliance. The onboarding process can be user-friendly without compromising the security aspect.” – commented Domantas Ciulde, the CEO of iDenfy.
Contact Info:
Name: Eva Azaraviciute
Email: Send Email
Organization: iDenfy
Address: Barsausko g. 59
Website: https://www.idenfy.com/
Release ID: 89077514
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