COLOGNE, Germany, October 27, 2020 (Newswire.com) - Fourstop GmbH (4Stop), a leading global provider for KYB, KYC, compliance and fraud prevention technology, announces today the activation and partnership of its data-driven KYB business underwriting solution with 123signed.
Underwriting merchants is a vital part of businesses' sustainability. It's the first level of defence against fraud and illicit activity towards an entity. However, for many businesses worldwide, obtaining a harmonised view of the risk associated with onboarding comes with an array of cumbersome processes and manual due-diligence. Manual processes bring excessive cost and resource demands along with long-delayed onboarding times, reducing revenue and profit.
This partnership between 4Stop and 123signed truly complements each other's objectives at combatting cumbersome business onboarding challenges. Businesses can now access 4Stop's leading merchant verification tools and transaction monitoring via the 123signed platform, delivering a fully automated system developed by compliance and regulatory experts. Both firms prioritise effortless verification for a seamless onboarding experience. They are leveraging modern technologies such as automated data-driven verifications, paired with real-time analytics and dynamic decision-making frameworks and intelligence to solve the frustrations and high costs that manual due-diligence brings.
Typically, it can take a business many months to integrate a single data source provider. Managing and integrating multiple third-party data providers puts a drain on development resources, brings high-costs and loss of agility to adapt to compliance quickly. Ultimately, the only way to manage risk and onboard merchants, directors, and customers with confidence is by having access to world-class data. 123signed recognised orchestration hubs, like 4Stop, are leading the future for risk mitigation and positively impacting due-diligence through the ease of access to multi-level verifications.
"We at 123signed are very excited to partner with 4Stop. This partnership will allow us to provide a smooth and frictionless onboarding of consumers and businesses across the globe, as we continue to add features to prevent fraud and monitor ongoing activities," states Craig James, Founder, 123signed.
Organisations can now onboard and monitor their customer activities in a frictionless manner for their users, making sure that all regulatory requirements are adhered to. Through this partnership, businesses can run a wider array of data checks from a single provider. This paired with multi-level risk scoring methodology provided by dynamic data cross-over analysis and aggregated data providers, ignites a new level of trust. Businesses can be confident in the risk score associated with every underwriting case file and can improve their acceptance rates, onboarding times and conversions.
"We are thrilled to be partnering with an innovator like 123signed within the B2B risk mitigation industry. Both our solutions future-proof against the ongoing evolutions experienced in regulatory obligations locally and globally, and we look forward to inspiring each other to best support our online eco-system advances," Ingo Ernst, CEO, 4Stop.
Source: Fourstop GmbH