Dublin, 8th May 2024 – Global identity verification provider ID-Pal today announced it has become a PIMFA Plus Partner of the Personal Investment Management & Financial Advice Association (PIMFA). The partnership represents a joint effort to effect meaningful change within the financial sector and a shared mission to support the diverse range of firms that provide investment management, investment services and advice.
ID-Pal is an award-winning identity verification and AML screening solution that uses 100% AI-powered technology to verify identities and addresses in real-time. It’s fast become the go-to provider within the wealth and asset management space, with the ability to prevent fraud with industry-leading accuracy while delivering a robust audit trail.
As the leading trade association for firms offering wealth management, investment services, and advice, PIMFA plays an essential role in the financial sector. Advocating for £1.65 trillion in private savings and investments and supporting over 63,000 professionals, PIMFA is dedicated to promoting the highest standards and best practices in the personal wealth sector. This aligns with ID-Pal’s advocacy of advanced technologies and next-generation solutions to streamline compliance and client onboarding. This collaboration highlights a mutual commitment to excellence and reliability in financial services.
Richard Adler, Chief Commercial Officer at PIMFA said:
“We welcome ID-Pal as PIMFA Plus Partners. ID-Pal will focus their efforts, with the use of AI-powered technology to assist our members and the industry in ID&V and AML screening. We look forward to working together to reduce risk exposure for client onboarding & streamline compliance.”
Commenting on ID-Pals new partnership, Alexander Blayney, Global Partnerships and Enterprise Sales at ID-Pal said:
“As an Associate Member and PIMFA Plus Partner, ID-Pal will contribute to strengthening knowledge-sharing with relevant partners and stakeholders, at a time when AI-fraud is creating challenges and uncertainty. Our visions are aligned – to build towards having innovation, security, and customer trust at the heart of the sector we operate in. We’re excited to support PIMFA’s mission and collaborate closely with them and their members in keeping the UK at the forefront of financial excellence and integrity.”
ID-Pal is an award-winning identity verification and AML screening solution that uses 100% AI-powered technology to verify identities and addresses in real-time. Offering a unique blend of industry-leading biometric, document and database checks to streamline AML and KYC in one GDPR compliant solution, it is available out-of-the-box, as an API/SDK and as a Salesforce AppExchange integration.
ID-Pal offers global coverage of more than 7000 identity documents and 200 verified address data sources to enterprise clients and SMEs across 200 countries and jurisdictions. ISO 27001 and ISO 9001 certified, their technology also boasts government certification for digital Right to Work and Right to Rent checks in the UK. Winner of Best RegTech Solution in the 2024 MPE Awards, ID-Pal also won Best KYC Solution in the RegTech Insight USA Awards and the Deloitte “Financial Services Innovation Award” in 2023. ID-Pal is currently ranked in the Deloitte Fast50.
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