Composability: where compliance meets core banking
There is nothing better than pursuing innovation with efficiency, especially when security is at stake, and the partnership between Mambu and Fourthline is aiming to achieve exactly this. As these two companies join forces, the promise is that customer experiences will rapidly change, shifting towards seamlessness and ease because two of the best players on the market are the ones holding the reins.
By The Fourthline Team
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So, what exactly is the goal of this dynamic partnership? The answer lies in the perfect harmony between our offerings, for a start, Fourthline’s “composable” compliance solutions and their ability to scale across diverse European markets. This aligns seamlessly with the composable banking philosophy of Mambu’s cloud banking platform, which supports financial institutions as they design nearly any type of financial offering. Together, we can help banks build their services with improved speed and efficiency and do all this in a secure and compliant way through the single API integration, which covers the European market in its entirety.
Mambu and Fourthline help financial institutions provide their customers with a streamlined onboarding journey. Fourthline, armed with a blend of AI-driven checks and human expertise, is the one to digitally verify users’ real identities, and do this with increased ease and speed, leading to an onboarding journey that is unmatched. Their fully modular and scalable know-your-customer (KYC) solution includes all steps required to meet the standards of the European regulatory landscape. This compliance is achieved by a verification process that covers a wide range of checks in order to authenticate a user’s identity with the highest level of certainty. This means identity verification (ID&V) with optional near field communication (NFC), liveness checks, device data and geolocation analysis, and additional anti-money laundering (AML) screenings with investigations, risk scoring, customer due diligence (CDD) reporting, and an audit trail. The elements that make up the Fourthline platform are available as both an end-to-end solution and now as standalone products. This top-notch solution is made possible by a stack of proprietary technology and an AML and fraud expert team, a fusion that sets new industry benchmarks in fraud prevention, compliance, and data security. Consequently, businesses can trust the real identities of their customers without compromising the pace and ease of the onboarding journey.
“There’s nothing quite like the harmony of innovation and efficiency, especially when it comes to safeguarding security. The strength behind this partnership, is that by setting new benchmarks in speed, security, and compliance, we will unlock seamless onboarding journeys for financial institutions,” Jacky Uys, Head of Solution Engineering at Fourthline.
