30.03.2022Press release

Online broker LYNX and KYC expert Fourthline join forces against online fraud

Fourthline Forrester TEI thumbnailBy The Fourthline Team

Amsterdam, 30 March 2022 – The Dutch fintech company Fourthline, a specialist in top-level end-to-end Know Your Customer (KYC) solutions, announces a partnership with leading online broker LYNX. The KYC expert will provide identity verification for new customers during the onboarding process. The Dutch fintechs will collaborate in eight of the European markets in which LYNX is active. In doing so, Fourthline will not only help the Dutch online broker with fraud prevention, but also contribute to its international growth ambitions and further optimize the customer experience. With the addition of LYNX to its customer portfolio, Fourthline’s growth is set to continue. The fintech from Amsterdam recently signed contracts with players such as Nationale Nederlanden, Wish and Vivid Money.

The growing popularity of investing has resulted in a record number of investing households in the Netherlands: 1.96 million in 2021.* Financial transactions are also increasingly taking place online, which creates a greater than ever need for advanced technology to detect online fraud and money laundering attempts. Fourthline helps globally regulated financial institutions protect the financial sector by detecting fraud with a 99.98% accuracy rate. Its smart technology also walks the end user through the onboarding and ID verification process quickly and easily. All the more reason for LYNX to join forces with Fourthline.

The Dutch online broker is already helping over 60,000 experienced investors throughout Europe to succeed on the stock market. The explosive growth of the online investment market in recent years means that it is more often the target of fraud attempts and money laundering. This also means that KYC checks are becoming increasingly important. Outsourcing this now allows LYNX to focus on scaling up faster and growing internationally. Along with ensuring online security, customer service remains a top priority. Fourthline has therefore added five new languages to its product portfolio especially for LYNX, so all its customers can go through the onboarding process in their own language.

Ellen van Ginkel, Managing Director of LYNX: “A growing number of active investors are choosing LYNX, and we are experiencing strong and satisfying customer growth as a company. We think it’s important that investors experience our high standard of service from the very first time they contact us. Applying for an investment account should not only be safe, but also easy and efficient. The new partnership with Fourthline will help us achieve that goal.”

Krik Gunning, co-founder and CEO of Fourthline: “As an online broker for experienced investors, LYNX knows better than anyone how important it is that both the customer experience and the quality of identity checks are top-notch. We are proud to work with LYNX and contribute to the international growth of this successful Dutch investment platform.”

*Source: Kantar, November 2021.

Serkan Ünal, Head of Strategic Partnerships
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