Fourthline’s Modular Identity Platform: Redefining identity verification with flexible solutions

Fourthline's Modular Identity Platform helps banks, fintechs, and non-financial businesses build secure, seamless, and tailored identity solutions. Whether you need to verify a client's identity or conduct anti-money laundering (AML) screening, you can choose from standalone product modules or one of our pre-built solutions. The solutions can be as lightweight or as robust as needed.

Together, we will help you map out a strategy that meets your current needs and anticipates future requirements to ensure the longevity and adaptability of your identity verification setup.

What is a modular identity platform?

A modular identity platform combines different features and functionalities to verify your clients' identities, combat fraud, or meet compliance regulations. Each of these can be tailored to your specific needs depending on your business model and risk policy.

For example, in the case of identity verification, a modular platform breaks down the process into selectable modules that can be customized and scaled. Each module handles different aspects of the process, such as document verification, biometrics, or location checks.

This component-based approach is more convenient and cost-efficient than one-size-fits-all KYC solutions. It makes it simpler to verify and authenticate your clients' identities across different scenarios and stages of the client lifecycle. It is also more cost-efficient since you only pay for what you use.

Which industries can benefit from a modular identity platform?

World-leading regulated and non-regulated financial businesses and non-financial companies are already benefiting from Fourthline’s Modular Identity Platform. Our solutions power the identity verification and client onboarding flows for partners from all over Europe and beyond.

Some of the industries that we serve include:

• Banking

• Neobanking

• Neobrokerage

• Fintech

• Telecom

• Airline

• Mobility

• Staffing

How to choose the best modular identity verification setup for your organization?

Since every business is unique, there is no universal solution for all. However, there are several crucial factors that companies should take into account when choosing a suitable identity verification solution, including:

• The regulatory requirements within your industry

• Onboarding procedures, customer experience, and identity verification needs

• The threat vectors and fraud risks you are exposed to

• Organizational structure and technology-readiness

• Future scalability and market expansion needs

• Budget

Get in touch with our team to find the perfect solution for your business.

How does Fourthline’s Modular Identity Platform work?

Fourthline's platform provides a highly adaptable approach to identity verification. It allows you to combine different products and design solutions to satisfy a range of use cases across Europe and beyond. It integrates effortlessly via a single API and offers the industry's biggest and most comprehensive set of identity verification features.

Companies can choose from seven product groups, including:

• Documents - ensure that you are onboarding clients with authentic ID documents

• Biometrics - physical traits analysis to confirm that your client is the person they claim to be

• Location - confirm the client’s actual physical location and address

• AML screening & monitoring - one-time checks or daily monitoring to ensure your clients aren’t sanctioned or politically exposed persons

• Qualified electronic signature - enable clients to sign documents with a secure digital signature

• Bank account verification - ensure that clients are authorized to make payments from an account with another financial institution

• Authentication - establish the identity of existing clients and ensure their profile is up-to-date

Some products work standalone, others work in combination. Fourthline's flexible data model allows you to design the optimal solutions for various use cases, including identity verification, client authentication, AML monitoring, and review and auditing cases.

How can a modular identity platform benefit your business?

Some of the benefits of integrating Fourthline’s Modular Identity Platform include:

• Designing secure yet seamless and fast onboarding flows for up to 40% higher conversions;

• Accelerating your international expansion by verifying identities across markets in Europe and beyond;

• Accessing a flexible security solution that can be as lightweight or as robust as you want;

• Integrating whatever you need, whenever you need it through a single API;

• A configurable solution tailored to your needs and growth trajectory;

• Future-proofing your business and remaining ahead of regulatory requirements;

• Taking advantage of the most extensive set of identity verification products in the industry for maximum flexibility;

• An AI-powered platform built and constantly improved in-house within the EU;

• A partner that has processed millions of cases to meet national and union-wide regulations;

• Improving your business efficiency by leveraging AI to reduce manual work and room for error to get more from your compliance processes;

• Fast time to market;

• Reduced operational costs;

• Enhanced trust and improved reputation.

How is Fourthline’s Modular Identity Platform integrated?

Fourthline’s Modular Identity Platform integrates with your existing systems through the powerful Workflows API, enabling it to communicate seamlessly with your existing systems, taking over the user journey complexity. Fourthline’s technical team supports this integration, working with your IT departments to ensure a smooth implementation and minimal disruption. The platform can be integrated into both on-premises and cloud-based infrastructures, providing robust functionality without requiring you to modify your existing set-up.

The process begins by assessing your specific requirements and needs. You then select from a range of modules which are integrated into your systems or compliance procedures via a single API.

You choose whether to host your data in a shared or dedicated environment and select your preferred cloud provider.

You can also choose your preferred operating model and whether to lean on Fourthline for case processing, auditing, and quality assurance or use your internal.

The final step is to specify your configuration requirements and follow the integration guides tailored to your use case.

What makes a modular identity platform superior to off-the-shelf KYC?

Off-the-shelf KYC solutions have long been the industry norm. However, compared to modular identity platforms, they have several drawbacks.

The main one is that the modular approach offers more customization. The off-the-shelf solutions usually come “as are” and can’t accommodate different use cases and needs. This can create friction since a non-financial business doesn’t necessarily need the most heavyweight, bank-grade KYC solution on the market.

Off-the-shelf solutions can be more costly and cumbersome because they require you to integrate the “whole package” rather than only the features they need. They can also unnecessarily complicate the onboarding process, resulting in a subpar user experience and damaging conversions.

In contrast, a modular system lets you select the components that address your specific challenges. That way, they can provide a more, targeted approach that can be adjusted as your needs evolve without overhauling the entire system.

How much does a modular identity platform cost?

The cost of a modular identity platform solution for your business depends on the product setup and the selection of modules. This flexibility in pricing ensures that you only pay for what you need, making it a cost-effective solution compared to more rigid, all-encompassing systems.

Get in touch with us to learn how easy it is to design the optimal identity verification solution for your business and get a tailored quote that reflects your unique needs.