Fizen™ to Showcase Revolutionary Compliance Tool Verify at Finovate Fall 2024
July 11, 2024 – Fizen™, a trusted leader in fintech solutions, has been selected to demonstrate its groundbreaking compliance tool, Verify, at the prestigious Finovate Fall 2024 conference in New York City. The event, scheduled for September 9-11, 2024, is widely recognized as the premier showcase for cutting-edge financial technology innovations.
Greg Palmer, VP and Host of Finovate shared his thoughts, “We’re excited to have Fizen demonstrate Verify at Finovate. In today’s complex regulatory environment, innovative compliance solutions are crucial for financial institutions. Fizen’s technology represents the kind of forward-thinking approach that will really resonate with our audience.”
Verify: Revolutionizing Compliance Screenings
Verify is an out-of-the-box screening tool designed for Origination Workflow, Vendor, and Customer Identification Programs. Leveraging the power of AI, machine learning, and APIs, Verify automates checklists, screening workflows, scorecards, and other operational processes, simplifying complex compliance procedures for financial institutions.
“We are thrilled to have the opportunity to showcase Verify at Finovate Fall 2024,” said Ikwo Ibiam, CEO of Fizen™. “Verify represents a significant leap forward in compliance technology, and we’re excited to demonstrate how it can transform the way financial institutions approach KYC, KYB, and AML processes.”
Key Features of Verify:
- Comprehensive Compliance Screening: Verify offers a wide range of functions, including:
- Adverse Media and Negative News Searches
- Beneficial Ownership Reporting
- KYC and Fraud Prevention
- OFAC Watchlist Searches
- Money Services Business (MSB) Checks
- Regulation O / Regulation B compliance
- AI-Driven Efficiency: Verify’s AI-powered platform provides summarized and recommended results, enhancing decision-making processes.
- Seamless Integration: With an open API-first infrastructure, Verify offers high-throughput capabilities and fast user onboarding using pre-configured modules.
- Flexible Implementation: Verify supports both cloud and on-premises implementations, catering to diverse institutional needs.
- Industry Classification Support: Verify incorporates both North American Industry Classification System (NAICS) and Standard Industrial Classification (SIC) for comprehensive entity industry classification.
- Record Management: Verify offers centralized, secure document storage with controlled access, version management, and audit trails.
- Training and Education: The platform includes tools to equip staff with essential compliance knowledge, reducing errors and gaps.
- Customization: Verify’s configurable solutions can be tailored to meet the unique needs of each institution.
During the seven-minute live demonstration at Finovate Fall 2024, Fizen will showcase these key features. Verify can streamline compliance processes, enhance accuracy, and significantly reduce the risk of financial crimes.
Fizen™’s inclusion in the Finovate demo lineup, following a rigorous selection process, underscores Verify’s potential to revolutionize the compliance technology landscape. The Finovate Fall conference provides a unique opportunity for Fizen to connect with potential clients, explore strategic partnerships, and gather valuable feedback from industry experts.
“For decades, customers have trusted EVS to navigate complex regulations and prevent fraud,” added Jared Knisley, Founder and Managing Principal at Fizen™. “With Verify, built on the robust EVS BlueAssure cloud platform, we’re taking compliance to the next level. We’re not just offering a tool; we’re providing a comprehensive solution that empowers financial institutions to approach compliance challenges with confidence.”
Fizen™’s Verify Solution
Fizen™’s Verify solution can play a pivotal role in helping financial institutions ensure compliance with the BSA. Verify is an out-of-the-box screening tool that automates various compliance processes, including:
Verify offers a comprehensive suite of compliance screening functions. Examples are: adverse media and negative news searches, beneficial ownership reporting, customer watchlist/hotfile status checks, OFAC watchlist searches, KYC and fraud prevention measures, and more.
The platform’s flexible and configurable nature allows seamless integration with existing systems. This enables organizations to tailor the solution to their specific needs. Additionally, Verify offers centralized record management, controlled access, version management, and comprehensive audit trails. In turn, this ensures efficient and secure compliance record keeping.
In the ever-evolving regulatory landscape, maintaining AML compliance is not only a legal obligation but also a critical necessity for financial institutions to protect their reputation and long-term sustainability. By implementing robust AML programs and leveraging innovative solutions like Verify, organizations can effectively mitigate the risks associated with money laundering activities.
About Finovate Fall
Finovate is the premier global conference series focused on financial services technology. Since its inception in 2007, Finovate has showcased more than 2,500 innovations from some of the most groundbreaking companies in fintech. This includes early demos from now-household names like Mint, Lending Club, and Prosper.
Finovate events are held in major financial hubs across the world. These include New York, San Francisco, London, Singapore, Hong Kong, Dubai, and Cape Town.
These conferences provide a unique platform for fintech innovators to demonstrate their latest technologies through short-form demos. They also allow thought leaders to share key insights on the evolving financial landscape.
With its finger on the pulse of fintech innovation, Finovate has been – and continues to be – where industry professionals see the future of fintech first. The Finovate brand has expanded beyond conferences to deliver year round fintech insights. This expansion includes its blog, social media coverage, podcasts, and digital webinars.
Finovate’s commitment to showcasing cutting-edge financial technology makes it the ideal stage for Fizen™. It provides an opportunity to demonstrate the transformative potential of Verify.
Media Contacts
Julia Concolino
Director of Marketing, Fizen™