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Forex broker IronFX has partnered with identity proofing company iSignthis to offer its service Paydentity, a combination of identity and payment solutions, the company said on Monday. Within the next three months, the broker will incorporate Paydentity and will start offering automated on-boarding of paid customers in as little as 3 to 5 minutes.
As a result of the cooperation with iSignthis, IronFX will gain compliance with the EU’s anti-money laundering and payment service directives.
iSignthis will remotely provide identity verification of online transactions by executing transaction monitoring, threshold management and advance reporting. Paydentity will also open new markets to IronFX, providing it with a global reach of any of the worlds 3.5Bn financially included persons.
The service has the option to store card details for future transactions, as well.
The full set of Paydentity services includes Digital KYC, Strong Customer Authentication, Fraud Prevention, Payment Gateway and Card Tokenisation.
iSignthis is an Australia-based payment authentication and online identity proofing service provider. It provides access to 3.5 billion bank verified card and bank account holders across more than 200 countries.
IronFX provides trading in forex, spot metals, futures, commodities and shares. The group consists of CySEC (Cyprus)-regulated holding company IronFX Global, ASIC (Australia)-regulated GVS AU, FCA (UK)-licensed 8Safe UK, IronFX Global Ukraine, which is a member of Ukrainian forex self-regulatory organization UCRFIN, and IronFX Global South Africa, regulated by South Africa’s Financial Service Board (FSB).