Compliance Built for Payment Speed

Payments Compliance Solution for Fintech & Payment Providers

Qoobiss offers a complete payment compliance solution for Fintech and payment providers that conduct financial transactions. The platform helps complete the onboarding process faster while reducing the risk of fraud. Our payments compliance solution ensures regulatory compliance across borders and includes continuous AML and KYC monitoring. In these industries, compliance is a legal requirement, but it also helps enhance trust among customers. Making the shift from manual procedures to an automated workflow improves efficiency, reduces costs, and increases the level of security for customers. With Qoobiss, identity verification can be completed in 3-5 seconds instead of the hours or days needed with manual processing. 

Compliance at the speed of growth

Fintech and payment providers are two industries that experience constant growth. Qoobiss allows these businesses to scale rapidly through the use of an automated compliance platform. Customer onboarding is streamlined using the automated identity verification platform. This not only enhances the process but also reduces fraud and maintains compliance. The regulatory compliance platform is designed for cross-border use helps payment providers and Fintechs navigate regulatory environments in different jurisdictions.

For account takeover prevention and to combat synthetic identities, Qoobiss provides compliance solutions that are tailored for the fintech industry. For payment providers and fintech companies, having KYC automation that enhances the onboarding process while meeting strict regulatory requirements is essential. By making use of the biometric technology and automated checks, Qoobiss delivers a secure compliance platform that creates audit-ready documentation with no complex steps needed by end-users.

Stop fraud before onboarding starts

With Overwatch and the Qoobiss product portfolio, fraud can be stopped before the onboarding process starts. Using risk-based onboarding, low-risk customers quickly complete the onboarding process while high-risk customers require manual review. Fintech and payment providers also benefit from continuous monitoring.OMNICHECK  screens against global sanctions, adverse media, and PEPs to identify risks before companies establish any business relationship. Our ONTRACE  platform is used to prevent any document fraud or impersonation. This is performed using biometric verification and document authenticity checks.

Onboard user in seconds, not days

ORIGIN is Qoobiss’s onboarding orchestration platform for designing and managing end-to-end onboarding journeys. It is an end-to-end compliance solution for the Fintech industry. An automated KYC process reduces manual errors and drop-offs. With identity verifications completed in seconds, new users are quickly onboarded. To ensure consistency, the compliance monitoring platform automates all regulatory updates. It also maps all controls across markets. This allows organizations to benefit from real-time monitoring and create standardized workflows.

We take a modular approach, offering various platforms for KYC/AML compliance, document verification, and sanctions screening. Platforms can be integrated into existing systems and can be added at any time. With this approach, Fintech and payment providers can start small and add modules as the business grows. ONTRACE is a common platform used for quickly verifying the identity of users, so the onboarding process can be completed in a matter of seconds.

Detect payment threats in real-time

For payment providers and processors, it is important to detect threats as soon as possible. Real-time detection uses biometric analytics and transaction monitoring (KYT). This helps to flag any suspicious behaviors or transactions that occur. Behavioral monitoring is effective for chargeback and card fraud prevention. We use live monitoring signals for onboarding identity context. This helps evaluate risk through risk scoring. Risk assessment is embedded into the verification process to ensure the identity is genuine. When any threat is detected, the system automatically sends an alert.

It is also important for businesses in the payment industry to generate investigation-ready evidence. This ensures that all data has been authenticated. Our platform maintains records of how evidence is gathered in audit trails. These audit trails include information such as device geolocation and any behavioral anomalies. With enhanced evidence aids, payment processors can ensure all regulatory requirements for fraud prevention and reporting are met.

Always-on risk detection

Ongoing screening continues after the onboarding process. AML screening and monitoring screens against PEPs and global sanctions through OMNICHECK. During monitoring, if the system detects any new sanctions hits or adverse media about users, workflows will be triggered to address the change in risk. We take an automated approach to risk management and provide real-time monitoring to detect any unusual events throughout the client journey. If a customer appears on a new sanctions list, our system will trigger a compliance workflow immediately. This can block or suspend transactions, create a case for the management team, and alert compliance teams.

Stay audit-ready everywhere you operate

As an enterprise compliance platform, audit readiness is a main focus. With continuous monitoring and evidence collection, Qoobiss helps organizations around the world remain compliant and audit-ready.

• Traceability and audit trail – We create automated audit trails that serve as a complete record of all activities and transactions. Data can be traced to any point in the customer journey.

• Structured reporting and evidence – Real-time documentation supports a structured process. Reports follow a structure, including an executive summary, responses from management, and a real-time dashboard.

• Configurable policies per region – Organizations that operate cross-border can maintain audit-readiness by using our platform. We offer a configurable system that allows for regional policies to be created.

• Central view of decisions – All financial and compliance-related decisions are stored in real-time. A central repository includes records of factors when developers create policies, live audit trails, key policies, and tracking of anyone who has reviewed or authorized policy changes or certain actions.

No-code workflow builder

Qoobiss promotes ORIGIN for the orchestration layer, including design flows, decision points, and fallbacks. Businesses can easily automate and customize the customer journey based on risk or location. High-risk regions will require extra verification to ensure compliance. We offer a no-code workflow builder that can be integrated into other existing systems. Compliance tools, including ANAF, OMNICHECK, ONTRACE, and eSignature, are distinct steps. Each platform connects with apps or services to allow the building of a complex workflow with no need to write code.

Solutions Used in Fintech & Payments

We provide a complete solution for onboarding, managing risks, and reducing fraud. With the Qoobiss compliance management platform, organizations can enhance the onboarding experience, offering faster verifications. Fintech and payment businesses benefit from these platforms to remain compliant with regulations.

• ONTRACE – Performs the identity verification needed for KYC onboarding.

• OMNICHECK – Delivers continuous AML, sanctions screening, and transaction monitoring.

• ORIGIN – Manages the workflow orchestration and the automation of onboarding.

• ANAF – For lenders, ANAF offers income verification by accessing databases like the Credit Bureau.

• Electronic Signature – Onboarding is completed using legally binding electronic signatures.