Paris, October 3, 2023 - Scalapay, among the pioneers of the Buy Now Pay Later sector, and backed by its new regulatory status as a payment institution, is strengthening its commitment to regulatory compliance by establishing a strategic partnership with Fourthline, a leading RegTech provider for financial players in Europe.
As a regulated financial institution, Scalapay constantly strives to ensure compliance with ever-changing regulatory requirements in all the European countries in which it operates.
By partnering with Fourthline, Scalapay has acquired a robust technology capable of guaranteeing compliance over time, and adapting to the changing European regulatory landscape.
Fourthline offers banks and fintechs a range of solutions enabling them to carry out KYC (Know Your Customer and AML (Anti-Money Laundering) procedures automatically and in compliance with local requirements, to verify customer identity and prevent money laundering. Its proprietary technology uses artificial intelligence techniques, including computer vision, biometric data analysis and optical character recognition.
“Scalapay’s partnership with Fourthline underscores our dedication to maintaining the highest standards of regulatory compliance while innovating in the fintech space,” stated Florian Jensen, Chief Risk Officer at Scalapay. “We are excited to work alongside Fourthline to harness their expertise and enhance our capabilities in meeting regulatory requirements.”
"Italy has played a pivotal role in Fourthline's growth journey, and our partnership with Scalapay marks a significant step forward in our commitment to the Italian market," said Krik Gunning, Co-Founder and CEO of Fourthline at Fourthline. "By providing our innovative solutions and leveraging our country manager Gabriele's expertise, we are well-positioned to deliver unparalleled value to our Italian partners and enhance their regulatory compliance efforts."
Scalapay is an innovative payment solution for retailers worldwide. It enables customers to buy now and pay later, in three or four interest-free instalments. Spreading payments over time allows consumers to enhance their shopping experience, giving them access to the best quality, favorite brands and items without impacting their budget. 5 million European users use Scalapay and over 5,000 stores and 7,000 physical points of sale.