The move will complement ThinkMarkets’ existing framework and further minimise the risk of financial crime, money laundering and terrorist financing.

ThinkMarkets deployed the system across its entire group of companies, offering users the ability to apply for, and receive confirmation of, a new trading account in minutes. The new solution significantly reduces the time needed to set up new customers, enabling them faster access to ThinkMarkets’ FX and CFDs pricing. The new process streamlines the existing account opening procedures and significantly enhances the customer journey by reducing the time and number of interactions needed to open an account.

The automatic verification system has been embedded into ThinkMarkets’ online application process. New prospects’ details are matched against a number of recognised databases to meet guidance issued by relevant authorities and bodies.

The system is integrated with ThinkMarkets’ proprietary back-office solution, CRM and trading platform, allowing the firm to retrieve client data in real-time across all its systems.

GBG joins a growing list of verification tools that ThinkMarkets uses in order to meet its regulatory obligations, the addition of GBG ensures that ThinkMarkets is prepared for new regulatory changes that continue to shape the industry.

Nauman Anees, CEO & Co-founder added: "ThinkMarkets’ vision has always been to offer a seamless experience to our customers. This new approach adds to this, but we still have a long way to go in meeting our strategy of complete automation for global FX traders."

Faizan Anees, Group Managing Director & Co-founder: "During our review of solutions on the market, we assessed several providers and GBG proved to be the best fit for our overall strategy of offering cutting edge, secure, digital trading solutions to our clients, coupled with sound regulatory measures."

Esther Sangkop, Global Account Manager at GBG, said: “We are delighted to be working with ThinkMarkets to improve the experience FX traders have when opening an account. Enabling people to interact over the Web quickly, safely and responsibly is the essence of what we do at GBG and the ThinkMarkets team has taken careful steps to ensure that its digital on-boarding process is fully compliant without reverting to the need for manual document checks half way through.”