Fourthline selected by Qonto for customer compliance

Fourthline is a European fintech that has developed a technology suite allowing financial services providers to carry out KYC and AML procedures automatically and in compliance with local requirements

The pan-european fintech Fourthline selected as Qonto’s technology solution in the verification of customer compliance during onboarding Know-Your-Customer (KYC) in France, Spain and Italy.

Fourthline is a European fintech founded in 2017 that has developed a technology suite allowing financial services providers to carry out KYC and AML (Anti Money Laundering) procedures automatically and in compliance with local requirements.

At a time when local requirements vary from one country to another, even within the EU, and qualified electronic signatures (QES) are becoming more widespread, Fourthline has positioned itself from the outset to adapt its solutions to the demands of regulators across Europe. A winning strategy, which explains why the fintech has become the preferred partner of fast-growing financial companies.

This international capability convinced Qonto to use Fourthline as its partner for onboarding its customers in France, Italy and Spain. Through a single Application Programming Interface (API), Qonto will have access to all the technological building blocks: examination of identity documents, authentication of electronic signatures, evaluation of biometric data, and use of Fourthline’s OCR model to detect any potential manipulation.

Krik Gunning, Co-founder and Chief Executive Officer of Fourthline said: Regulations continue to evolve on a country by country basis, leading to ever growing complexity for international banks and fintechs. Fourthline’s single Application Programming Interface cuts this complexity by offering all the building blocks needed to comply with local regulations, providing peace of mind to our clients when local regulations change. The French market is a prime example of how updated regulations require a futureproof partner and we are proud to add Qonto to the growing list of French financial institutions that leverage Fourthline’s technology to comply.