PassFort, a provider of customer lifecycle management (CLM) solutions, today announced a new partnership with card consolidation platform, Curve.
PassFort will be automating Curve’s Know Your Business (KYB) due diligence processes for onboarding and monitoring business clients in 31 markets in Europe.
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The partnership was established as Curve secured series C funding and set ambitious global growth plans, which include a launch to the US and deeper penetration in Europe for 2021. PassFort was able to marry both the best-in-class KYB and Anti-Money Laundering (AML) automation Curve needed now, with the ability to scale and control costs related to future expansion.
Working with PassFort, Curve is designing a bespoke, flexible and streamlined corporate onboarding flow, which automates KYB and AML checks to maximise straight through processing (STP) of new applications. STP enables Curve to increase and accelerate the number of corporate clients it is onboarding or monitoring, without having to introduce more technology or increase the number of people in its compliance function.
Due to the breadth and flexibility of its solution, PassFort has been expanding rapidly. The company has added impressive names to its customer portfolio over recent months, winning accounts in Financial Services businesses across Europe, Australia, North and South America. PassFort enables clients to manage costs, to become more efficient in how they carry out compliance processes, and to deliver best-in-market customer onboarding experiences.
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PassFort has recently strengthened the number of leading data providers integrated with its platform so clients can access accurate and comprehensive Know Your Customer (KYC), KYB and AML data through a single solution.
“PassFort was assessed on a buy vs. build criteria, as well as against other vendors.” said Jon Cumberlege, VP of Operations at Curve. “PassFort’s global coverage, the need for minimal development resources on Curve’s side, full case management capability and flexible, automated workflows meant its team won out. We’re very happy with our decision and implementation is now well underway.”
“We couldn’t be more excited about welcoming Curve as a client,” added Donald Gillies, CEO and Co-founder of PassFort. “Work has begun to optimise Curve’s time-to-onboard so they can deliver a great experience for new customers with the assurance of complete compliance with regulation. We also look forward to helping Curve achieve high-levels of straight through processing to make their onboarding processes more efficient, while helping to reduce the future cost of compliance in terms of systems, data and people.”
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