Lithuania-based regtech company iDenfy has announced that it entered a collaboration with FTMO , aiming to simplify the latter’s onboarding process and prevent duplicate accounts. As per the information detailed in the press release, by integrating iDenfy’s verification solution for both individual and corporate clients, FTMO is set to simplify and improve the onboarding process, while also preventing the creation of duplicate accounts.

iDenfy – FTMO collaboration objectives Providing global traders with demo accounts connected to real market movements, FTMO aims to expand its educational platform and effectively manage its onboarding and compliance needs to accommodate its development strategy. iDenfy’s solutions align with FTMO’s requirements, as the company can provide a comprehensive identity verification suite for Know Your Customer (KYC) and Know Your Business (KYB) compliance solutions. As part of this collaboration, FTMO’s objective is to simplify its client onboarding operations and reduce the number of duplicate account submissions on its platform. Furthermore, FTMO’s integration with iDenfy focuses on enhancing key processes, including screening international sanctions lists and identifying clients who create redundant or duplicate submissions on the company’s education platform.

iDenfy’s services are set to meet FTMO’s service requirements while also providing competitive pricing and solutions that mitigate the probability of duplicates conveniently and compliantly. FTMO and iDenfy plan to advance compliance and transparency in the prop trading industry, solidifying their commitment to offering a safe and secure trading environment for all participants. According to FTMO’s officials, the partnership with iDenfy aims to strengthen the company’s allegiance to delivering improved services to its educational trading platform as the latter’s identification solutions enhance and automate compliance processes. Representatives from iDenfy underlined that their firm aims to drive efficiency and transparency in the prop trading industry, supporting both traders and the education platform. The partnership advances iDenfy’s objective of enabling businesses with enhanced compliance solutions.

Both FTMO and iDenfy are committed to providing solutions that improve compliance, foster innovation, and allow individuals to achieve their trading goals. The collaboration follows iDenfy’s partnership with SCOPE FinTech Solutions, with the two companies planning to augment fintech security as a response to the expanding European market and the rising threat of financial fraud. As part of their agreement, iDenfy was set to support SCOPE in streamlining the identity verification process across multiple countries via standardised ID inspection checks.

The automated verification process aimed to facilitate SCOPE’s accelerated expansion while also maintaining focus on a user-centric approach and compliance with regulatory requirements. .