XEMarkets successfully incorporates SafeCharge ID Veri cation Service
NICOSIA, Cyprus, November 18, 2012 -
XEMarkets, the trading name and registered trademark of Trading Point Financial Instruments Ltd., which is a prominent global
currency brokerage active in many countries, successfully incorporated the real-time ID Verification service of SafeCharge, a leading provider of payment and risk management services to online and mobile merchants, into its Know Your Customer (KYC) practice, a set of regulatory compliance measures carried out during Trader On-boarding process to ascertain trader identity and minimize fraud.
Using Image Recognition Technology, ID Verification instantly detects forgeries on scanned identity documents
uploaded from anywhere in the world. With this smart service added to its KYC practices portfolio, XEMarkets has now digitalized all ID checks and brought them to real-time. “We completed the incorporation of ID Verification with success and are already very satisfied with the results. ID Verification allowed us to really speed up the trader onboarding process and save big on operational costs. We are now even able to spot well-crafted forgeries invisible to the naked eye
right away,” says Andy Draniewicz, Head of Operations at XEMarkets. “ID Verification became a significant filter in our risk management platform; its effective mitigation of risk helps us tremendously in our efforts to comply with KYC regulations.”
ID Verification was designed to lead companies’ risk and compliance departments to work more
efficiently and assertively, preventing financial losses stemming from undetected fraud. Hence, it
promises to be a big time-and-money-saver for brokers.
"Our partners at XEMarkets have proved to be visionaries by their early adoption of this new compliance
and risk technology. We believe it’s our years serving Forex and Binary Options brokers and our
deep expertise in their payment processing that led XEMarkets to choose us,” says Yuval Ziv, Managing
Director at SafeCharge. “We take pride in our innovatory products and services, and are committed
to serving our prestigious clientele for many years to come.”
About SafeCharge
SafeCharge combines financial expertise and technological
knowhow to deliver a complete set of global payment
methods together with a powerful fraud prevention
system. Designed and customized to suit the unique
processing needs of e-commerce merchants, SafeCharge's payment solutions guarantee maximum
sales conversion with a fully-integrated risk management platform that accurately recognizes and
minimizes potential online risks, while at the same time increasing profits.
Find more on https://www.safecharge.com
About XEMarkets
As a dynamic financial services provider, the mission of
XEMarkets is to offer equal chances for traders to access
trading in forex, commodities and CFDs (oil, gold, silver) in
a flexible way. And we do this by combining financial
know-how, latest technologies, and a pro-active approach to traders' needs. XEMarkets was founded
by financial experts whose aim is to create win-win opportunities. Our flexible leverage and low
spreads are as attractive to clients as the "no hidden fees" and "no negative balance" policy, coupled
with best execution and advanced trading platforms that facilitate trading operations.