TRAXX Payments Pte Ltd Selects Acuant for Market Leading KYC Solution

TRAXX Payments Pte Ltd Selects Acuant for Market Leading KYC Solution

As TRAXX continues to provide safe and secure transactions for businesses throughout the pandemic, Acuant helps to streamline its payments services

Los Angeles – December 1, 2020 – Acuant, a leading global provider of identity verification solutions, today announced how it was selected by TRAXX Payments Pte Ltd (TRAXX), a global payment processing service provider based in Singapore, to create a seamless digital Know Your Customer (KYC) process for its clients. Utilizing Acuant’s AssureID and FaceID, TRAXX has been able to replace its laborious manual process of visually inspecting documents submitted with an automated and more accurate verification process. This partnership has allowed TRAXX to adapt its payment method in a constantly evolving landscape, providing a faster, smoother and safer transaction process for customers.

TRAXX securely connects merchants to customers. In order to ensure the highest transaction quality, it analyzes and optimizes their processes, while implementing anti-fraud measures to maintain integrity and security for all transactions. TRAXX offers its services globally to clients such as Visa, Mastercard and JCB, and has traditionally relied on its clients to send their KYC screen packages both physically and digitally. With TRAXX.ID, its own digital KYC platform, it now offers a seamless, cost-efficient screening service which increases the operational efficiency of a company’s transaction process.

After testing 10 other vendors, TRAXX chose Acuant due to the simplicity of its implementation process and powerful solutions.  Acuant smoothly integrated document authentication and biometric facial recognition match with a liveness test into TRAXX’s digital KYC platform. Acuant’s customer service was also a deciding factor for the collaboration citing the teams’ quick response time.

“Overall, our tech team found the integration process was relatively simple and the SDK extremely helpful. Acuant’s team was also quick in responding to our queries and assisted us in resolving issues we identified” said Derek Han, Managing Director of TRAXX. “TRAXX is now able to replace the manual process of visually inspecting documents, a task which is not only time consuming but also dependent on the skill of the human inspector. Acuant has afforded us a great convenience by not only eliminating the need for both parties to be present at the same location, but also at the same time,” Han concluded.

“We are thrilled to partner with TRAXX to solve the very real problems of establishing trust and optimizing KYC workflows,” said Yossi Zekri President and CEO at Acuant. “In this time of increasingly digital transactions and fraud, businesses have to keep up with secure solutions that employ automation. Our goal is to make this as easy to implement as possible and to provide world-class support, I am pleased with what we have accomplished and look forward to more success with TRAXX.”

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