Xirni, a developer of compliance technology for Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF), recently announced a partnership with RegTech innovator iDenfy to streamline its compliance solutions. This strategic collaboration will enhance Xirni’s offerings, integrating advanced ID verification and automated AML screening for a more efficient onboarding process that meets the latest regulatory standards.
Since its launch in 2019, Xirni has focused on offering accessible and user-friendly compliance tools to financial institutions, especially in regions where AML regulations are becoming increasingly stringent, such as Hong Kong and the UAE. By automating core aspects of AML and CTF compliance, Xirni aims to help organizations meet regulations without burdening their resources or increasing costs.
Xirni’s search for an advanced ID verification solution brought them to iDenfy, a leader in identity verification and fraud prevention. iDenfy’s comprehensive suite includes AI-driven ID checks, facial recognition, and API integrations tailored for businesses needing a secure, seamless customer onboarding process. Xirni’s decision hinged on iDenfy’s robust multilingual interface and sophisticated anti-fraud capabilities, which surpassed other solutions in terms of accuracy and scalability.
With iDenfy’s face recognition algorithms, Xirni now offers an extra layer of security in onboarding. The system verifies identities across more than 200 countries, with failed checks escalated to iDenfy’s in-house KYC team, ensuring thorough reviews in case of blurred photos or incomplete documents. This partnership allows Xirni to significantly expedite user onboarding, reduce error rates, and boost operational efficiency, addressing the industry’s need for accurate, compliant, and user-friendly AML solutions.
CEO of Xirni, Bakar Hasnain, expressed confidence in the new system, noting, “With iDenfy’s innovative technology, we can offer a streamlined, secure AML experience to financial institutions while adhering to rigorous regulatory standards.” iDenfy’s CEO, Domantas Ciulde, highlighted the shared goal of helping financial institutions navigate complex compliance landscapes, saying, “Together, we are equipping businesses with essential tools to protect against financial crime.”
This partnership is poised to deliver substantial benefits to institutions dealing with non-face-to-face onboarding, ensuring compliance while minimizing risks in today’s digital-first regulatory environment.
For more information and business inquiries, please visit www.idenfy.com.
