[SINGAPORE] Verify 365 has consistently served numerous global companies, creating efficient risk and compliance verification processes, preventing fraud and ensuring regulatory compliance. We’re ready to extend our expertise to more customers and partners in the APAC region.

Verify 365 announces its exciting venture into the Asia Pacific, in response to the escalating demand for its comprehensive verification platform amidst a growing threat of identity fraud in the region.

Singapore has been chosen as Verify 365’s APAC headquarters, acting as a strategic vantage point for business expansion in the region

“The APAC market holds immense potential for growth”

Verify 365 already aids a range of Australian and Canadian clients in combating identity fraud, providing a high level of fraud protection while ensuring compliance with KYC, KYB, and AML regulations.

Innovative features, such as SecureSend and digital identity wallet MYID, aligned with the regions national identity system Singpass are being rolled out in anticipation of wider market adoption. 

“Verify 365’s value lies in our ability to streamline the risk and compliance onboarding process while offering the industry’s quickest app-led onboarding experience,” said Azeem Rashid, a spokesperson for Verify 365. “We’re committed to aiding law firms, financial services, and other regulated professionals in efficiently onboarding clients while safeguarding their interests and maintaining compliance with AML regulations.”

As the need for KYC, KYB, and AML solutions continues to rise in APAC, Verify 365’s data reveals a worrying 33% increase in digital fraud within Singapore’s fintech industry from Q1 to Q2 2023.

Concurrently, ID card fraud rates increased by 1.5 times, with passport fraud doubling to a staggering 3.5%. Similar trends are emerging in Hong Kong, Malaysia, the Philippines, Indonesia, and Thailand.

Rudi Kesic, CEO of Verify 365, emphasised: “The Asia-Pacific region is a cornerstone in our global expansion plans. This region is home to rapidly burgeoning digital startups, particularly in the fintech sector. The potential for business opportunities is immense, especially given the high demand for instant user onboarding and robust fraud protection. Verify 365, having already aided an extensive number of companies across the globe, is primed to extend its services to a wider base of customers and partners in the APAC region.”

With the launch of its new Singapore office, Verify 365 is optimally positioned to cater to the growing demand for effective risk and compliance onboarding solutions. This expansion reflects Verify 365’s commitment to providing exceptional service to clients globally, enabling swift customer onboarding while adhering to strict AML regulations.

Verify 365’s commitment echoes the stance taken by the Bank of Singapore and the Monetary Authority Singapore (MAS), both of whom stress the importance of robust AML measures. Verify 365 fully complies with jurisdictional rules and guidelines. It is the system of choice for regulated professionals seeking an efficient and compliant AML and client verification system.

To experience the simplified efficiency of Verify 365’s risk and compliance onboarding solutions and learn how the company simplifies onboarding without compromising compliance, request a free demo today.