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Thursday, January 9, 2025

Currency Matters adds Selified’s global online identity verification service to facilitate worldwide growth

Ormskirk based, Currency Matters, the foreign currency exchange and payment service that enables businesses to trade cost effectively overseas has added biometric facial verification from Selified to quickly verify new customers worldwide.

Currency Matters runs a worldwide business. Operating in a regulated industry, it needs not only to provide great service but also to comply with the anti-money laundering (AML) legislation. The verification of new customers has to be carried out quickly and thoroughly during the onboarding process regardless of which country the person comes from. This can be a painstaking task and is often performed manually.  Doing this in a cost effective, timely manner for all customers was a challenge.

Currency Matters chose Selified as its verification partner because it provides a one-stop solution for verifying people anywhere on any device.  The Selified service seamless experience verifies customers remotely through a selfie and images of their ID document and proof-of-address document. Selified uses AI to determine the identity document and then applies various validation processes to verify its authenticity. Selified applies multiple image processing techniques to give reliable results every time – even difficult to read documents.

Jon Anderson, CEO, Currency Matters said: “Selified has enabled us to enhance our international standing.  Currency Matters can now provide the same high level of service to all customers it onboards, wherever they are in the world.”

Phil Sorrell, Chief Operating Officer, Selified added: “Our challenge was to improve their process efficiency for international customers and those not found on credit referencing databases.  Selified has been designed to accommodate everyday user behaviours and gives accurate results without requiring complex integration or onerous monthly commitments”.

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