back Back

Fondeadora selects AU10TIX for automated identity verification services

By Pavithra R

March 25, 2021

  • Fondeadora
  • Mexico
Share

Fondeadora selects AU10TIX for automated identity verification servicesFondeadora, a fast-growing Mexican challenger bank has announced selecting AU10TIX , the global leader in identity verification, to increase the speed and the security of its clients’ due diligence processes.

Fondeadora’s search for an identity verification partner was driven by its mission to improve the banking experience for Mexicans and allow consumers to open an account without physically visiting a branch. The collaboration combines the simplicity of the company’s digital banking application with AU10TIX’s deep experience in automating identity authentication and KYC flows, enabling a more secure and affordable financial service option for Mexicans.

“As demand for the Funder grows, we have analyzed all systems to ensure that our offering is resilient and ready to expand — particularly at the first point of contact with a potential account holder, which is critical to establishing trust. identity verification partner that was fully automated, accurate, responsive and customizable, and AU10TIX’s technology and staff met all of these demands,” said Miguel Gutiérrez, Fondeadora’s executive director of business development.

The Mexican FinTech sector operates in a highly regulated environment that requires strict compliance with local KYC / AML regulations. Additionally, approximately 65 mn users in the country still rely on cash for majority of their transactions. For this reason, automatic KYC and digital integration processes are critical for digital banking operating in Mexico.

As Fondeadora seeks to serve its local community, verification and protection of the identities of its user base is essential to promote collaboration, transparency, and access in the new system.

“AU10TIX is excited to join Fondeadora in its mission to provide financial access to all of Mexico through technology. Together, we can build a reliable digital payments ecosystem, in which the Funder can link the physical and digital identity attributes of its account holders, which is necessary not only to comply with local standards, but also to exceed consumers’ expectations regarding to fast and continuous access,” said Carey O ‘Connor Kolaja, CEO of AU10TIX.

Previous Article

March 25, 2021

Chip selects Seccl to power investment platform launch

Read More
Next Article

March 25, 2021

SHC appoints FinIQ as its digital trading platform for UAE expansion

Read More








IBSi Daily News Analysis

March 22, 2024

Fondeadora

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Payop partners with Tink to add Pay by Bank in Europe

Read More

March 22, 2024

FinTech Focus: Catch latest developments of the week

Read More

March 21, 2024

Micropayment and Tink partner to launch Pay by Bank at checkout

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023