Kazakhstan’s CFD broker ITCS Trade selects iDenfy for ID checks

Rick Steves

Identity verification solutions providers are growing in popularity as AML and KYC policies are getting tighter every year

ITCS Trade, an FX and CFD trading platform based in Kazakhstan, has partnered with iDenfy for ID verification solutions for new customers signing up for new accounts.

The broker offers access to more than 4,000 CFD instruments from crypto, commodities, foreign exchange, and equities. Kazakhstan is not usually seen as a powerhouse for the trading industry, but emerging markets do emerge. This is the case for this country in Central Asia with 18.5 million people.

“In our industry, KYC & AML is paramount, and the ability to conduct a big part of our KYC-process automatically saves us an incredible amount of time and money. The cost- and timesaving this has brought us has been essential for our business. A big part is a fact that we’re only charged on successful verifications, something that many competitors lack”, said an ITCS Trade spokesperson.

“Our customers enjoy a great benefit of having an easy way to identify themselves without having to fill out tedious forms and questionnaires. Our clients feel it’s safe and easy to verify their identity with an automated verification process. It’s a great benefit both for us as a business and our clients being able to verify themselves this quickly”, he continued.

Domantas Ciulde, Chief Executive Officer at iDenfy, said: “iDenfy provides the new wave of web-based Fin-Tech companies such as ITCS Trade a dynamic, innovative service. Our identity services can be seamlessly integrated into the partner platform. As a leader in identification verification who is constantly upgrading and improving, iDenfy provides the Fin-Tech industry with the tools it needs for confidential and compliant online identity verification.”

Identity verification solutions providers are growing in popularity as AML and KYC policies are getting tighter every year. iDenfy is particularly popular in Eastern Europe and Central Asia, with a roster of clients including Bank of Lithuania, EMBANK, Expo Bank, betsafe, and xcoins.

FinanceFeeds has recently interviewed a competitor, GetID’s CEO Dmitri Laush, who aims to solve the KYC and onboarding challenges for brokers. First impressions never have a second chance.

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