An automated anti-money laundering (AML) screening platform has been launched by IDnow.
The platform is equipped with a risk assessment system to help users avoid violating the sanctions. The software, which has been developed by the German identity verification company, is designed to screen the identity of persons.
It screens the identity of users against the global watch-list and sanction list. This platform is particularly useful for bookmakers and operators as it makes KYC smoother and safer.
As per Gambling Insider, Vikas Seth, CPO at IDnow, said: “The new streamlined process accelerates the onboarding flow and offers a better user experience.
“The addition of AML screening and monitoring is further expanding the IDnow platform and marks another strategic step on our way to become the leading European platform for all identity needs.”
The anti-money laundering screening happens in real time and the companies do not need to upload the data for further monitoring because the data will automatically be collected during identity screening.