Earlier this month, we launched a white-label debit and deposit account product with rich payments functionality. Since that release, we’ve seen demand for a standalone, embeddable KYC product.
KYC (Know your Customer) is a critical gateway for any company or organization looking to offer a financial product or service. Done right, it allows financial programs to scale quickly and reduces costs associated with liabilities and fraud.
KYC was always a feature available for developers within Productfy’s financial ecosystem. What we’re excited to enable our partners to accomplish is the next step in making KYC accessible - as an embedded service - to credit unions, banks, non-profits, universities, and a whole slew of other organizations. Many partners we work with have neither the technical resources to manage their own digital KYC onboarding experience, nor the BSA/AML compliance resources to manage the additional due diligence and approval operations behind the scenes.
What this means for you: If you don't have engineering, compliance, or servicing resources, but need to deploy a scalable KYC solution backed by a team of BSA/AML experts, then this solution is ideal for you.
Talk to us to find out more about embedded KYC or our other white-label solutions. >
Watch this space for more updates as we roll out more features to accelerate financial product innovation. As always, connect with us below to learn more about how innovative card programs and scalable features can power your financial product or fintech program.