Shufti offers AI-driven KYC and AML solutions designed to streamline customer onboarding. Their platform enables businesses to verify end-users and conduct background checks with a single API, simplifying integration into existing systems.
They have a high customer satisfaction rating (4.7 on TrustPilot), indicating that users find their services reliable and easy to use.
Their solutions are available in over 240 countries, which is a significant advantage for businesses operating internationally
Offers both SaaS and on-premises solutions, catering to various client needs, especially for large enterprises with specific security requirements.
Most verifications are completed in under 30 seconds, which can enhance customer on-boarding experiences.
Weaknesses
The identity verification market is fiercely competitive, with many companies providing similar high-quality products and added features like risk scoring.
Some businesses may find the technology complex and require significant training to implement and use effectively.
Shufti Pro raised a total of $20 million in funding. The Series A funding, amounting to $20 million, was announced on 15 March 2022 and led by Updata Partners.