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Monavate partners Know Your Customer to enhance payment compliance

By Gloria Methri

June 21, 2024

  • Customer Onboarding
  • Customer Risk Management
  • Europe

Monavate, Know Your Customer, Payment Compliance, Regulatory, FinTech, RegTech, UK, EuropeMonavate has joined forces with Know Your Customer to revolutionise the European payment solutions sector by redefining compliance processes.

A specialist payments solution provider, Monavate empowers businesses to navigate the intricate network of technology choices required to launch financial programs. Monavate selected Know Your Customer as its partner to enhance the onboarding and compliance processes for its customers.

Know Your Customer’s solutions enable Monavate to tap into real-time global registry connections in over 140 countries through a single REST API. This integration not only automates and strengthens compliance procedures but also enhances operational efficiency, ensuring seamless adherence to regulatory standards within their digital ecosystem.

Mat Peck, Monavate’s Chief Technology Officer, said, “We selected Know Your Customer as our partner due to their exceptional real-time global registry data, which provides the largest coverage in the market. Working with the Know Your Customer team has been a delight, and we are confident that together, we will be able to develop customer-centric compliance solutions in the payment space that meet our customers’ evolving needs.”

Claus Christensen, CEO & Co-Founder at Know Your Customer Limited, said, “We are excited to partner with Monavate and extend our support towards their card scheme sponsorship and payments platform. Our goal together is to revolutionise payments compliance, removing the complexities to entry in launching and scaling programs, and making it more secure and accessible for FinTech and payment providers.”

The strategic partnership between Monavate and Know Your Customer brings forth a compelling proposition for the payment industry in Europe. By combining cutting-edge technology and streamlined business KYC procedures, this collaboration empowers businesses to meet regulatory requirements, enhance risk management, and drive growth in this competitive landscape.

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