PassFort announces new partnership with Curve to deliver KYB due diligence

26 Jan 2021

London, 26 January, 2021: PassFort, a provider of customer lifecycle management (CLM) solutions, today announced a new partnership with card consolidation platform, Curve.

PassFort will be automating Curve’s Know Your Business (KYB) due diligence processes for onboarding and monitoring business clients in 31 markets in Europe.

The partnership was established as Curve secured series C funding and set ambitious global growth plans, which include a launch to the US and deeper penetration in Europe for 2021. PassFort was able to marry both the best-in-class KYB and Anti-Money Laundering (AML) automation Curve needed now, with the ability to scale and control costs related to future expansion.

Working with PassFort, Curve is designing a bespoke, flexible and streamlined corporate onboarding flow, which automates KYB and AML checks to maximise straight through processing (STP) of new applications. STP enables Curve to increase and accelerate the number of corporate clients it is onboarding or monitoring, without having to introduce more technology or increase the number of people in its compliance function.

Due to the breadth and flexibility of its solution, PassFort has been expanding rapidly. The company has added impressive names to its customer portfolio over recent months, winning accounts in Financial Services businesses across Europe, Australia, North and South America. PassFort enables clients to manage costs, to become more efficient in how they carry out compliance processes, and to deliver best-in-market customer
onboarding experiences.

PassFort has recently strengthened the number of leading data providers integrated with its platform so clients can access accurate and comprehensive Know Your Customer (KYC), KYB and AML data through a single solution.

“PassFort was assessed on a buy vs. build criteria, as well as against other vendors.” said Jon Cumberlege, VP of Operations at Curve. “PassFort’s global coverage, the need for minimal development resources on Curve’s side, full case management capability and flexible, automated workflows meant its team won out. We’re very happy with our decision and implementation is now well underway.”

“We couldn’t be more excited about welcoming Curve as a client,” added Donald Gillies, CEO and Co-founder of PassFort. “Work has begun to optimise Curve’s time-to-onboard so they can deliver a great experience for new customers with the assurance of complete compliance with regulation. We also look forward to helping Curve achieve high-levels of straight through processing to make their onboarding processes more efficient,
while helping to reduce the future cost of compliance in terms of systems, data and people.”

About PassFort

PassFort is a single, SaaS solution to manage compliance and financial crime across every customer lifecycle. The solution is used by governance, risk, and compliance professionals worldwide.

Financial institutions digitally transform their KYC, KYB and AML processes to achieve a perfect balance between compliance and customer experience.

Headquartered in London and founded in 2015, PassFort has now supported its clients with more than 5 million customer onboarding journeys worldwide.

For more information visit www.passfort.com

About Curve

Curve is a banking platform which allows customers to consolidate multiple cards into one smart card and an even smarter app. The unique Curve card allows customers to supercharge their legacy banks to the 21st century without leaving their bank. Curve is live in 31 markets across the UK and Europe.

Curve offers a host of benefits to its customers, who get instant notifications and categorisation across their spend; the ability to fit their cards into Google Pay, Apple Pay and Samsung Pay, even if their banks don’t support this, and the patented Time Travel enables customers to swap spend to a different card in the app for up to 30 days after
the purchase was made.

Curve supports Mastercard® and Visa networks. The Curve Card and e-money, related to cards issued in the UK, is issued by Curve OS Limited, authorised in the UK by the Financial Conduct Authority to issue electronic money (firm reference number 900926). The Curve Card and e-money, related to cards issued in the EEA, is issued by Curve Europe UAB, authorised in Lithuania by the Bank of Lithuania (electronic money institution
license No. 73 issued on 22 of October, 2020).

For more information go to www.curve.com, like our Facebook page and follow us on Twitter @imaginecurve and Instagram @imaginecurve.

For media enquiries
Email:
press@curve.com


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Curve OS Ltd, enregistrée en Angleterre et au Pays de Galles, #09523903
Copyright - 2021 © Curve OS Limited. La Curve Card, Samsung Pay+ et la monnaie électronique liée à ces cartes sont émis au Royaume-Uni par Curve OS Limited, autorisé au Royaume-Uni par la Financial Conduct Authority à émettre de la monnaie électronique (numéro de référence 900926). Curve OS Ltd, enregistrée en Angleterre et au Pays de Galles, Royaume-Uni (numéro de référence de la société : 09523903) et située au 15-19 Bloomsbury Way, Holborn, Londres, Royaume-Uni, WC1A 2TH.La Curve Card et la monnaie électronique liée aux cartes émises dans l'EEE sont émises par Curve Europe UAB, agréé en Lituanie par la Banque de Lituanie (licence d'établissement de monnaie électronique n° 73 délivrée le 22 octobre 2020). La Curve Card et Samsung Pay+ sont émis sous licence par Mastercard International Inc. Mastercard® est une marque déposée de Mastercard International Incorporated. Curve Europe UAB, est enregistrée en Lituanie (numéro de référence de la société : 305626541) et située à Jogailos g. 9, LT-01116 Vilnius.

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