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Tuum partners with RegTech Fourthline on KYC, AML Compliance

By Gloria Methri

June 01, 2023

  • AML Screening
  • Authentication
  • Compliance Regulatory
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Tuum, Core Banking, RegTech, Fourthline, KYC, AML, Compliance, EuropeTuum and Fourthline have partnered to offer European financial institutions a core banking solution that incorporates end-to-end customer onboarding and monitoring in compliance with KYC (Know Your Customer) and AML (anti-money laundering) regulations. Now, providers can easily roll out into new markets, unrestrained by regulatory and technological restrictions.

Fourthline helps European banks and financial institutions perform digital identity checks with innovative, end-to-end KYC solutions and compliance experts. It covers the full customer journey including initial onboarding, ongoing AML monitoring, authentication, KYC checks, document renewal, qualified electronic signature checks, and, if required, offboarding.

Combined with Tuum’s cloud-native, next-generation core banking solution, regulated institutions can benefit from a single API integration that boosts their agility and scope to deliver new innovative services, all while covering all KYC and AML requirements now and in the future.

The combination of a modern core banking solution and KYC AML expertise offers the continent’s banks a trusted partner that can navigate complexity for them and empower them to scale.

“We are thrilled about our collaboration with Tuum,” said Eelco-Jan Boonstra, Chief Commercial Officer at Fourthline. “Together, we offer a solution that enables regulated institutions to expand rapidly across Europe while maintaining compliance with all regulatory obligations. Fundamentally we achieve this without compromising technological innovation. One key aspect is our capability to ensure that clients remain compliant throughout their entire customer journey, beginning with AML screening and extending to ongoing monitoring.”

Jean Souto VP, Global Partnerships at Tuum said, “For European banks and financial institutions eyeing growth across borders, ever-changing regulation and varying cross-border requirements can be a huge hindrance. With this partnership, we want to empower the next generation of institutions with a strong banking core agile to change, and access to an API that takes away the strain and worry of compliance. We are delighted to offer a truly best-of-breed solution and help banks achieve growth and innovation safely and securely.”

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