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Know Your Customer and MineSec team up to take payment platform security to the next level

Mon Aug 07 2023#Announcement
minesec x kyc

Know Your Customer, a leading RegTech provider specialised in next-generation digital onboarding and Know Your Business (KYB) automation solutions for fintech firms and financial institutions, has partnered with MineSec, a white-label SoftPOS solution provider, to enhance the onboarding experience of its SoftPOS solution.

The partnership will enable MineSec and their customers to leverage Know Your Customer's innovative modular compliance technology to verify onboarding merchants in real-time, obtaining accurate company documentation to identify their ownership structure and unravel ultimate beneficial owners (UBO) instantly. By partnering with Know Your Customer, MineSec can now offer a more robust and reliable solution to its customers, which will help maintain a safe and secure ecosystem for users on the platform.

"We are thrilled to partner with Know Your Customer to enhance the security and compliance capabilities of our SoftPOS solution," said Damien Chow, Chief Product Officer of MineSec. "With the integration of their technology on our SoftPOS app, our customers can now streamline the onboarding process, reduce fraud, and minimise risk, all while ensuring that we comply with the latest regulations. We believe that this partnership will be a game-changer for us and our customers, who will be able to access the highest level of anti-money laundering security without sacrificing on seamless customer experiences."

(from left) Damien Chow of MineSec and Billy Ho of Know Your Customer.

With regulations around financial crime becoming stricter and more complex, a robust KYB process is essential to help payment providers comply with the relevant requirements and avoid hefty penalties or legal issues. By integrating automated KYB checks within the merchant onboarding process, payment platforms can efficiently ensure that businesses using their platform are legitimate and trustworthy and activate their services quickly. This can lead to a reduction in drop-off rate during onboarding and, overall, a better user experience for new customers and merchants.

"We're thrilled to partner with MineSec to support their innovative vision for payment enablement." said Claus Christensen, CEO of Know Your Customer. "Their unique technology is bridging the gap between the needs of merchants in both the digital and physical world, while also meeting the ever-growing compliance requirements in the Fintech space. With our combined expertise, we can make contactless payments more secure and accessible for everyone."

About MineSec

MineSec helps its customers to drive innovations in secure and seamless contactless payment solutions globally. Their highly experienced and knowledgeable team offers extensive local market and industry expertise to help simplify the complexities of innovation and accelerate time to market. The white-label SoftPOS solution from MineSec provides ease of integration and customization for various business needs, allowing customers to scale confidently and competitively to meet every market's unique evolving needs.

About Know Your Customer

Know Your Customer is an award-winning RegTech company specialised in next generation digital onboarding solutions for financial institutions and regulated organisations worldwide.

For teams that are struggling with inefficient corporate onboarding processes, Know Your Customer provides a modular compliance solution that combines the most intuitive digital workspace on the market with unmatched real-time registry data, seamless integrations, and smart automation to transform the essence of the compliance function at its core. The products’ modular design enables efficient customisation, as clients can select and implement only the functionalities they really need, all available via Rest API. For more information visit or follow Know Your Customer on LinkedIn orTwitter.