W2, a leading provider of regulatory compliance software has today announced a partnership with Fyorin, providing them with Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) services, consumed through a single access point.
Fyorin is a payments and financial operations platform. With a one-time onboarding process, their e-commerce clients can start benefiting from tailored business banking products provided through a curated network of Financial Institutions. All from one unified platform. Some of the products being offered are multi-currency dedicated accounts, sub-accounts, and corporate virtual cards.
Through their innovative business model, Fyorin, are required to verify the identity of their corporate customers within the onboarding journey to comply with regulations as set by different financial regulators, one of them being the Financial Conduct Authority (FCA). Therefore, one of the key objectives of this partnership was to be able to provide their clients with a frictionless onboarding journey.
Warren Russell, CEO & Founder commented “We are delighted to be partnering with Fyorin on what looks to be a strong offering they are developing. Fyorin had a clear requirement in mind on how they wanted to conduct their due diligence, and it is a testament to both sides that we have been able to develop a custom selection of services which is suited exactly to their needs.”
Christian Joseph Agius who is the Co-Founder & COO at Fyorin added “Automation is key for Fyorin. Fyorin simplifies the world of banking for SMEs whereby through one onboarding process, clients can transact across the global Fyorin network of banks, lenders, gateways, card issuers and more. In W2, we’ve found a trusted partner that delivers market leading KYC and AML, tailored to our business workflows.”
Fyorin is a payments and financial operations platform. With Fyorin, digital businesses are not held back any longer by the frustratingly slow and labour-intensive processes required to deal with several financial service providers. Fyorin enables e-commerce businesses to operate efficiently by taking the burden out of global payments and transactions.
With one onboarding process and a unified portal, clients can transact across the global Fyorin network of banks, card issuers and more. Enabling clients to send, receive and hold money in 40+ different currencies besides being able to segregate their receivables through Sub Accounts and Virtual Ibans to speed up their reconciliation process. Customers can also create unlimited Virtual Cards for all online spending and add metadata for each card for better control and monitoring.