Fourthline, a leading pan-European fintech, has been chosen by Riverty to provide cutting-edge customer verification (KYC) technology, now live in both Germany and the Netherlands.
Riverty, stands as a prominent international financial services provider within the Bertelsmann Group. With over 50 years of industry experience, Riverty supports more than 25 million consumers and processes over 1 billion transactions annually. The company offers a wide array of BNPL payments, receivables management, and identity management, serving thousands of corporate clients across multiple countries.
Fourthline, established in 2017, is a European fintech that has developed a comprehensive technology suite enabling financial service providers to conduct KYC and AML (Anti-Money Laundering) procedures automatically, ensuring compliance with local regulations. In a landscape where local requirements differ across the European Union, Fourthline has successfully adapted its solutions to meet the demands of regulators throughout Europe, making it a preferred partner for rapidly growing financial entities.
Fourthline's compliance with German regulatory standards, combined with its user-friendly alternative to video-identification, aligns with Riverty's needs for onboarding customers in both Germany and the Netherlands. The partnership lets Riverty access essential technological components for compliant onboarding through a single API, including identity document verification, biometric data analysis, and the application of Fourthline's advanced verification models. This collaboration is designed to ensure ongoing compliance with BaFin requirements, streamline onboarding by reducing friction, and support Riverty in its post-onboarding compliance obligations. Fourthline's versatile solution is integral to Riverty's strategy to expand its consumer business across relevant markets, offering a scalable and compliant foundation for growth.
Krik Gunning, Co-founder and CEO of Fourthline, stated: "We are thrilled to partner with Riverty to provide an efficient onboarding solution for both the German and Dutch markets, where we are now live. Our technology offers a seamless alternative to traditional video identification methods while ensuring full compliance with BaFin requirements. This partnership underscores Fourthline's commitment to solving complex regulatory challenges across Europe with our single, adaptable API."
Alexander Scheibel, Product Management Lead from Riverty added: "Our collaboration with Fourthline is a pivotal step in Riverty's mission to deliver seamless financial services across Europe. This partnership enables us to maintain the highest compliance standards, particularly such as the Qualified Electronic Signature requirements, while significantly enhancing our customer onboarding experience, which is key to our business success. We're excited to leverage Fourthline's innovative KYC solution to support our growth and better serve our customers."
