Admirals strengthen European client onboarding through a strategic partnership with Onfido, enhancing security and efficiency in the process. A prominent identity verification provider. This collaboration aims to streamline the onboarding and account creation process for clients in over 25 European countries on Admirals’ online investment platform, Admiral Markets Cyprus Ltd.
By integrating Onfido’s advanced AI-powered identity verification technology, Admirals seeks to bolster security measures, thwart fraudulent activities, expedite onboarding processes, and ensure compliance with diverse regulatory standards. Onfido’s sophisticated document and biometric verification tools will play a crucial role in validating user identities, fostering trust, and instilling confidence among both existing and potential clients.
Stefanos Mistrellides, the Onboarding Product Owner at Admirals, emphasized the significance of having a trustworthy partner like Onfido in navigating the intricate regulatory landscape of European countries. “We aim to continue setting Admirals as a leading fintech destination in Europe,” Mistrellides stated.
Admirals’ Partnership with Onfido Enhances European Onboarding
Admirals Group AS, a globally recognized fintech company, has been expanding its footprint for over two decades, providing clients with a diverse range of financial products and services. The company has received industry accolades for its trading tools and continues to evolve its offerings.
Andrea Bondi, Senior Vice President of Digital Identity Solutions at Onfido, highlighted the role of their company in assisting businesses to meet regulations while ensuring a secure onboarding experience. Bondi stated, “Our collaboration with Admirals reinforces our commitment to facilitating secure and compliant onboarding processes in the fintech sector.”
Admirals has actively pursued platform enhancements and product diversification in recent years. In 2020, the company initiated the development of a proprietary web-based trading platform, officially launching it in November 2023, offering users access to an extensive selection of financial instruments.
To augment liquidity, Admirals integrated Match-Prime’s multi-asset liquidity pools, introducing added simplicity, transparency, and security for clients. The company also introduced an automated investing tool, Auto-Invest, allowing investors to optimize portfolios and establish automated contributions.
While Admirals’ UK subsidiary, Admiral Markets UK Limited, reported a marginal revenue decline of 2.2% in the fiscal year 2022, totaling £6.04 million, the overall Admirals Group generated a robust revenue of €69 million across its global operations. Despite challenges, Admirals remains committed to providing innovative solutions and maintaining its position as a frontrunner in the European fintech landscape.
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