Identity verification platform ID-Pal will have its AI-powered technology integrated into, B-Corp-certified issuer processing platform, CLOWD9‘s payment solutions portfolio.
The partnership will see ID-Pal provide CLOWD9 with identity verification processes during the payment transaction ensuring users’ data is kept safe. It will also see CLOWD9 utilise ID-Pal‘s tech to ensure its own data security is up to date too.
ID-Pal’s platform comprises a comprehensive set of tools for frictionless, secure identity verification and anti-money laundering (AML) screening. Furthermore, its blend of biometric, document, and database checks is delivered within a GDPR-compliant framework. This aligns perfectly with CLOWD9’s commitment to working with innovative and sustainable companies worldwide.
CLOWD9 CEO and co-founder Suresh Vaghjiani is enthusiastic about the partnership’s impact. He says: “This strategic partnership will allow CLOWD9 clients to access both a compelling end-to-end identity solution and an AML screening solution with advanced AI-fraud detection capabilities.”
Mark O’Hara, enterprise sales manager at ID-Pal commented: “We’re delighted to be adding our solution to the CLOWD9 technology portfolio. Together we can help financial institutions adapt and thrive in the new world of digital payments and enhanced security by democratising secure, robust fraud prevention tools.”
Meet the firms
CLOWD9 acts as the interface between banks, fintechs and payment firms. It authorises transactions and initiates payments. Additionally, the firm also maintains the system of record for cardholder data and provides settlement instructions.
ID-Pal serves a range of payment providers with ease. It offers data security standards, real-time verification and 100 per cent AI-powered technology. Providers with the most complex processes can also integrate ID-Pal seamlessly to take advantage of its configurable user journey.
The post CLOWD9 Integrates ID-Pal Into Payment Verification Process appeared first on The Fintech Times.
