Financial technology leader ParagonEX partners with Austrian regulatory technology provider SignD, adding a new product to its already advanced umbrella solution for CFD brokers – SignD Quantum, an automated solution for know-your-customer (KYC) verification.
The new addition will enable ParagonEX and their clients to streamline operations by saving time on manually collecting and validating customer identity documentation, reduce human error and allow for faster trad ing beginning from newly registered clients. The KYC module is already up and running as an add-on to ParagonEX’s existing trading infrastructure, and brokerages using it can also add it to their business logic.
“We’re constantly refining our products, adding new features, and improving efficiency so that our clients can focus their efforts on looking after their customers. The current KYC addition greatly simplifies a tricky and time-consuming area of brokers’ day to day operations: anti-money laundering (AML) and KYC compliance. With this solution, brokers can save resources on identity checks, eliminate human error and increase efficiency across the board,” said ParagonEX’s CTO, Alex Scott, on behalf of ParagonEX.
This new addition is one in a string of technological enhancements ParagonEX recently developed or implemented, and many more are expected to be released in the near future.