iForex and iSignthis to pilot digital KYC

Source: iSignthis

iSignthis Ltd (ASX : ISX) is pleased to announce that it has entered into a pilot agreement with the industry leader in online trading, iFOREX.

 iSignthis will integrate with iFOREX to pilot and optimize the ISX Digital KYC service. A successfully optimized pilot will provide iFOREX with a user friendly onboarding system.

The aim of the two month pilot is to optimize the iSignthis service, and to demonstrate compliance to the stringent requirements of CySEC and the EU’s 4th AML Directive (“4AMLD”). The 4AMLD is set to come into effect in June 2017 within the EU.

Post successful pilot, and subject to finalisation of contract, the iSignthis service opens up the potential customer market for iFOREX to any of the worlds 3.5Bn financially included persons. The iSignthis service will be able to onboard customers who elect to pay by credit card to iFOREX within minutes.

iFOREX is one of the largest online trading platforms in the industry. Having experienced exponential growth every year, iFOREX have expanded their client base generating mass trading volume and providing vast financial assets to traders located across the globe. Their online trading platform can be easily accessed from mobiles, laptops and tablets which has enabled users to trade
whenever they choose, whilst also receiving instant professional support when needed.

iSignthis Managing Director John Karantzis said “We are excited to be piloting our recently released 4AMLD customer due diligence KYC solution with industry leader, iFOREX. Noting that both the 4AMLD and PSD2 are now visible on the
horizon, we are delighted by the foresight shown by iFOREX to solve the challenges associated with 4AMLD and PSD2 ahead of time, and offer their customers a seamless, quick and low friction onboarding experience.”

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