Confirm helps regulated fintechs handle monetary crime dangers and streamline buyer onboarding by automating KYC and KYB checks.
At present, BaaS (Banking as a Service) fintech agency Griffin introduced the launch of Confirm, a buyer onboarding product. Confirm will assist regulated fintechs onboard prospects at scale whereas assembly regulatory necessities.
“Our mission is to create a technology-driven financial institution that we consider will mix the ability of intuitive software program with the safety and reliability of an authorised financial institution,” stated Adam Moulson, Griffin’s appearing CEO. “Good onboarding is important for any monetary providers providing, and Confirm is an entire resolution to assist corporations handle monetary crime dangers, automate guide duties, and create a seamless end-to-end expertise for customers.”
The expertise behind Confirm has all the time been a core pillar of Griffin’s imaginative and prescient to assist fintechs launch monetary merchandise rapidly with out compromising on compliance. The corporate realised there was a niche available in the market for a product that addresses the distinctive challenges of regulated fintechs. Confirm supplies the suitable stage of flexibility, ease of use, and area experience to assist fintechs onboard prospects at pace, whereas holding the suitable guardrails in place.
Confirm helps corporations handle buyer onboarding dangers by automating checks like: Confirm and verification (together with biometrics), PEPs, sanctions and antagonistic media screening, fraud and extra. The platform additionally supplies a seamless expertise throughout the API and UI, making it straightforward for tech and compliance groups to collaborate utilizing one platform.
The important thing options at launch embody:
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Pre-integration with a large community of industry-leading regtech information sources and suppliers (together with Corporations Home, Equifax, Dow Jones, Seon, Veridas, and extra)
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Customisable test workflows and determination logic for automated settle for and decline end result
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Clear audit trails with visibility over each test end result and determination justification
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A single API integration level with clear documentation for straightforward implementation
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Help from Griffin’s workforce of compliance specialists
Griffin is already working with early adopter prospects, together with Comma, the UK’s first native open banking bulk funds system. The corporate makes use of Confirm to customize their onboarding workflow, run KYB checks and automate approvals, offering a greater person expertise and serving to its compliance workforce handle monetary crime dangers as buyer adoption grows.
“Our aim has all the time been to resolve issues for customers utilizing expertise that makes working their lives and companies simpler. We’re thrilled to accomplice with Griffin to interchange guide processes with easy, modern expertise that delivers worth to prospects. We’re rising quick, and Confirm is poised to assist us safely and effectively tackle new prospects at scale.” Ger Kelly, Head of Banking stated.
This product launch comes on the heels of two main firm milestones: Griffin not too long ago closed a $15.5 million funding spherical led by Notion Capital, and submitted its banking licence software to the PRA and FCA. The corporate goals to grow to be the go-to banking and BaaS accomplice for UK fintechs.
“Fintechs in the present day want banking and expertise companions that perceive their wants and will help them innovate at pace. The launch of Confirm, coupled with the corporate’s different achievements this 12 months, show that Griffin is nicely on its method to turning into the financial institution you possibly can construct on,” stated Stephen Chandler, managing accomplice at Notion Capital and Griffin board member.
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