Silverbird selects Resistant AI for swifter customer onboarding

By Gloria Methri

Silverbird, the digital payments platform for international merchants, has adopted Resistant AI’s Document Forensics to secure its customer onboarding process.

Resistant AI’s technology will enable Silverbird to increase the efficiency of its KYC and source of funds (SOF) checks for its merchants that are making transactions across 195 countries, in 30+ currencies. The technology will accurately validate the decisions made by the Fraud and Risk team at Silverbird, supporting business growth without additional time burden for the team.

Silverbird offers its business customers multi-currency accounts for foreign payments, which are easier to work with and faster than banks due to the speed with which payments can be made.

With 500-plus merchants across 200 countries worldwide, working in multiple industries and currencies, customer onboarding is undertaken through an online portal to submit incorporation documents and proof of address (POA) to verify that the business is genuine.

Resistant AI’s technology uses over 500 detectors to analyse the internal structure of a document, its metadata properties, and its visual structure to streamline and enhance Silverbird’s application process.

Resistant AI’s Document Forensics increases the speed of customer reviews and onboarding, using machine learning to verify the authenticity of digital documents from across the globe in seconds.

Martin Rehak, CEO and Founder of Resistant AI said, “We look forward to helping Silverbird revolutionise their onboarding process, becoming more efficient and reducing risk in an industry that is increasingly attacked by fraudsters. Silverbird will be better equipped to adapt to progressively pernicious threats, and we are proud to support them on their journey to expansion.”

Max Faldin, CEO and Founder at Silverbird added, ‘Across our industry we have witnessed a spike in forged documents, and those are just the ones we have spotted. If you apply the same metric to ones you can’t see – it’s clear that it is a growing challenge with gangs of fraudsters knowing how to do this better than ever before. By using Resistant AI’s Document Forensic solution, we will be better able to detect the advanced fraud tactics that are almost impossible to spot with the naked eye, across a huge number of data points. We are keen to pass on the benefits of this increased security to our customers as our business grows.”