COLOGNE, Germany, February 24, 2021 (Newswire.com) - FourStop GmbH (4Stop), a leading global provider for KYB, KYC, compliance and fraud prevention technology, announces tremendous company growth experienced quarter-over-quarter in 2020. As a result, 4Stop has doubled its year-over-year top-line performance with 100% revenue growth.
In 2019, the company received Series A funding of €2.5 million. As a result, they doubled their employee count, opened a new office in the United Kingdom, expanded their data orchestration hub by 188% and their risk technology products by 60% - establishing the most extensive global data and risk marketplace. In 2020, 4Stop performed data and risk calls increased by 134% from the previous year and made up 53% of 4Stop's accumulative data and risk calls since 2018.
"Our relentless focus on data and product innovation to future-proof risk mitigation from one integration proved itself this past year," states Ingo Ernst, CEO, 4Stop. The global pandemic forged a new evolution of online engagement that many experts were not anticipating for years. Online businesses desperately required customer onboarding and fraud prevention solutions in a future-proofed, agile, and streamlined manner to manage the significant volume surges without multiple integrations.
In 2020 alone, 4Stop's KYC call volume increased 60% in Q4 from Q1, and specifically, Document ID increased by 3777% from 2019. "I am very proud of our data and risk marketplace that is home to hundreds of data services and anti-fraud tools. Merchants from any industry and region can quickly adapt their data and fraud defence in a pick-n-choose model and manage their volume demands with confidence," adds Ingo Ernst.
Furthermore, 4Stop's momentum continues from the evolution of regulatory requirements, such as PSD2, which brings Strong Customer Authentication. As a result, 4Stop's authentication of data services increased by 838% in 2020. Their data marketplace increased 30% with specific credit and compliance data sources, including a partnership with ComplyAdvantage; a global leading Regtech data provider.
Additional factors to 4Stop's accelerated 2020 growth include;
- 100% growth volume in registration data verification calls from 2019
- 83% adoption growth in their newly developed Know Your Business automated underwriting and merchant onboarding solution
- Increased customer base by 31% from 2019
The need to manage hundreds of data and risk technology integrations that result in high costs, resources, slow operations and a fragmented view of risk is no longer an acceptable risk mitigation solution businesses can utilise. 4Stop's globally agnostic data, compliance and risk marketplace helps entities of all sizes and industries to connect and orchestrate various identity, risk and payment data points and verifications while tailoring fully automated, customisable and dynamic fraud prevention workflows and management tools. Companies obtain all the data and risk functions they need to be adaptive to any online engagement evolution.
In 2021, 4Stop will continue to expand its data marketplace by 60% and is in current developments of an enriched cloud platform experience with advanced smart risk technology.
Source: FourStop GmbH