Mexican neobank albo has joined forces with identity verification solutions provider Acuant to meet anti-money laundering (AML) requirements and secure digital Know Your Customer (KYC) processes.
The move will involve integrating Acuant’s Trusted Identity Platform with albo.
Go deeper with GlobalData
The step will enable albo to assess customer data during KYC, facilitating identify verification process. It will also help the neobank in meeting local AML regulations and prevent financial frauds.
albo compliance officer Oscar Cruz Hernández said: “Our partnership with Acuant means we can provide each client with a process that will keep their information safe, while complying with Mexican law and regulation requirements in the most accurate way.
“We are building a prosperous relationship with Acuant and we look forward to tackling the issue of AML fraud head-on.”
Acuant president and CEO Yossi Zekri said: “Without compromising its AML/KYC needs, addressing regulatory compliance was a significant obstacle we have helped albo overcome, and we are delighted with the result.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“In the modern digital world, compliance and fraud prevention cannot be neglected to make way for efficiency – it needs to be all encompassing to provide customers a trusted service.”
Founded in 2016, albo offers its customers a digital account to conduct transactions. The offerings also include an albo card and personal financing.
