Aug 02nd, 2022.
Lerex Technology partners with ID-Pal to streamline AML compliance and enhance onboarding process in new markets.
ID-Pal, the identity verification provider, has been appointed by Lerex Technology, the payment solution provider, to help with its growing identity verification, e-verification, Anti-Money Laundering (AML) and Know your Customer (KYC) requirements. The partnership will see ID-Pal support Lerex Technology with AML compliance and the onboarding of new customers seamlessly across multiple European markets.
Lerex Technology is an E-money as a Service solution provider that enables businesses to offer next-generation payment systems to their customers. The platform’s services include prepaid cards, digital accounts solutions, and access to payment rails such as Faster Payments and SEPA.
To comply with the AML and KYC requirements of these programmes while offering a seamless user experience, Lerex Technology has partnered with ID-Pal for their identity verification needs. The solution performs document verification, facial matching, liveness testing and address e-verification in real-time. It offers industry-leading accuracy with General Data Protection Regulation (GDPR) compliance built in, all while delivering a frictionless journey for the end user.
Lerex prides itself on leveraging cutting-edge technologies, an easy-to-use API for efficient connectivity and integration, as well as delivering world-class customer service, allowing business payments and consumer challenger banks to come to market quickly and easily.
The speed at which ID-Pal is able to implement the technology across multiple jurisdictions and channels along with its robust architecture were key drivers for the partnership. Lerex partnered with ID-Pal via their API Integration, making the process seamless for the business and their clients.
This partnership will enable Lerex and their clients to prevent fraud at source, simplify their onboarding experience for customers on any device and verify identities in any language or jurisdiction. The solution offers robust compliance, verifying more than 6,000 types of identity documents and cross checking against 200 verified address databases.
Colum Lyons, CEO and Founder of ID-Pal, comments:
“Our partnership with Lerex is very strong and delivers significant benefits to their clients. Our businesses are aligned in the mission to make it easier for businesses to balance meeting compliance requirements with providing a positive experience for customers.”
On the partnership, Richard Ney, CEO of Lerex Technology, said:
“We needed an Identity Verification solution that augmented our focus on advanced technologies and delivering the best experience for our customers. Using ID-Pal makes the compliance and onboarding process seamless for Lerex and our end clients. The results and reports are detailed and clear, allowing us to turn applications around in a timely manner and onboard customers smoothly.”
Founded in 2016, ID-Pal is an award-winning ISO 27001 certified identity verification solution that enables businesses 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. Headquartered in Dublin and backed by Enterprise Ireland, ID-Pal offers global identity verification coverage of more than 6000 identity documents and 200 verified address data sources to enterprise clients and SMEs across 200 countries and jurisdictions.
ID-Pal is the winner of Best Customer Facing Experience in the 2021 PAY360 Awards and the IT & Fintech Irish Times Innovation Award in 2022.
About Lerex Technology
Lerex Technology was founded as a card company in 2017. In early 2020, the company became a B2B payment solutions provider; supplying full end to end infrastructure and support for corporate clients wishing to go to market with their own prepaid payment solutions and digital accounts.
Lerex is a great example of a dynamic fintech leading the way in the UK market; using innovation and technology to provide valuable technical infrastructure to new entrants to the payments arena.
For more information visit: https://www.lerextech.com/
ID-Pal Media contact
Senior Account Manager
+44 (0) 7538 456324