01.08.2022Press Release

Provenir selects Fourthline

A global leader in AI-powered risk decisioning software selects Fourthline’s fraud detection to enable its customers to make smarter data-driven decisions.

FL-logomark-square avatarBy The Fourthline Team
Provenir

Amsterdam, 1 August 2022 – Fourthline, the digital identity and verification specialist, today announces it has partnered with Provenir, a global leader in AI-powered risk decisioning software, to provide best-in-class fraud detection and A.I. powered Know Your Customer (KYC) solutions to Provenir customers.

Fourthline’s proprietary European data reveals a 12 percent increase in counterfeit documents used to open fraudulent bank accounts in Q1 2022 (compared to the same period in 2021). The partnership will allow Provenir customers - via the Provenir Marketplace - to more accurately detect fraud and comply with KYC and Anti Money Laundering (AML) regulations throughout the customer lifecycle.

Fourthline's AI-driven platform authenticated millions of identities across Europe in Q1 2022. Its bank-grade end-to-end KYC platform empowers financial institutions and regulated enterprises to comply with KYC and AML regulations, authenticate customer identities, and drive business growth.

The Provenir Marketplace provides organizations with a one-stop data hub for easy access to data covering Open Banking, KYC/KYB, fraud, credit risk, verifications, social media, collections, affordability, and more. This comprehensive fintech data and business intelligence ecosystem brings together offerings from data vendors around the globe into one easy-to-use cloud solution for data consumption.

Carol Hamilton, Senior Vice President, Global Solutions, Provenir, said: “We’re thrilled to bring Fourthline onto the Provenir Marketplace to radically simplify, improve and digitize the KYC and AML compliance process for our clients. Fourthline’s innovative technology helps our customers to make smarter decisions faster.”

Provenir selected Fourthline as it provided optimum digital identity solutions for its current customers and prospects. Provenir was impressed by Fourthline’s extensive experience of working with regulated large enterprises and fintech to help their customers more accurately detect fraud and comply with KYC and AML regulations throughout the customer lifecycle.

Krik Gunning, co-founder and CEO of Fourthline, said: “As a global leader in AI-powered risk decisioning software, Provenir recognizes the crucial role technology and data science play in identity verification and fraud prevention. We’re proud to partner with Provenir to deliver a complete suite of products for their customers’ KYC, AML compliance, and fraud prevention needs.”

Robert-Jan Van Vugt, Business Development Director

Want to learn more? Contact one of our fraud & compliance experts

Get in touch with Robert-Jan van Vugt, who brings years of trading and financial industry expertise to his role as Global Head of Partnerships