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In the latest development, the Dutch fintech startup Safened will be rebranded as Fourthline, as a result of the increased number of Know Your Customer (KYC) activities.
To date, the company has performed digital identity checks on millions of customers, including reputed banks and fintechs like N26, Wirecard, and Allianz. It’s worth mentioning that experienced executives are now joining the company to lead Fourthline through the next phase of growth.
Verifies identity of thousands of customers every day
For the uninitiated, Fourthline is one of Europe’s fastest-growing fintech companies for digital KYC (know your customer). Fourthline helps banks and fintechs with their gatekeeper’s function by verifying the identity of thousands of new customers every day.
Offers best-in-class fraud detection
In order to combat fraud and reduce the risks for financial parties, Fourthline performs hundreds of checks on, amongst others, the ID document, biometric data, device data, whereabouts, and global sanction lists. Notably, the KYC platform, as part of Safened Fourthline BV, is regulated as an Authorised Payment Institution by the Dutch Central Bank and the Financial Conduct Authority.
Provides customer-friendly digital KYC solution
This platform verifies millions of identities for customers and provides best-in-class fraud detection. The company is on a mission to protect the online financial system by using the most innovative technologies to develop the safest and most customer-friendly digital KYC solution. At present, the company has grown to a team of more than 150, spread across offices in Amsterdam, Barcelona, London, and New York.
Fourthline management is led by Krik Gunning
The management of Fourthline, led by Krik Gunning, will be strengthened with Remco Vlemmix (former partner at McKinsey) as Chief Operating Officer and Duco Van Lanschot (European leadership of Stripe) as Chief Commercial Officer.
Fourthline CEO Krik Gunning:
McKinsey&Company expects the digital identity verification to be ‘the next $20 billion digital market’ because increasingly large and vulnerable transactions are made online. There is growing pressure on banks to know exactly who their customers are and to combat fraud and money laundering. Fourthline can fulfill the role of gatekeeper for every financial institution. We make KYC cheaper for banks, easier for their clients, and safer for society.
The Supervisory Board of Safened Fourthline B.V. has been supplemented by Leen Meijaard (former member of the Executive Board of Blackrock EMEA, Chairman of the Supervisory Boards of the football club Ajax and Achmea Investment Management) and Eric Hollanders (former CEO of Bank Mendes Gans).
Stay tuned to Silicon Canals for more European technology news.
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