Identitii (ASX:ID8) lands key ISO Certification

Fintech company Identitii (ID8) has secured an International Organisation for Standardisation (ISO) certification for its regulatory risk reduction services.

Specifically, Identitii has been awarded ISO 27001 information security certification. This means a team of auditors, on behalf of the ISO, has verified the Identitii tech’s ability to manage and protect company and client data.

Simply put, the certification is an important milestone in securing financial service contracts, meaning it opens up more customer opportunities for Identitii.

The company’s Overlay+ platform is designed to help financial institutions reduce their risk of breaching regulatory rules and subsequently avoiding serious fines.

The tech works on the idea that Know Your Customer (KYC) services are no longer enough to prevent money laundering. As such, Identitii’s “Know Your Transaction” services are designed to take things a step further by sending intelligent information with a transaction to help customers and watchdogs better understand its origin and purpose.

Importantly, the Overlay+ platform allows banks to do this without having to upgrade or change their technology.

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Source: Identitii (ASX:ID8) lands key ISO Certification – The Market Herald