Online foreign exchange business The Currency Club has brought in Experian to verify the identity of its customers and counteract fraud.
The global information service company has been employed to reduce the risk of fraud as well as improve online efficiency and customer service.
The Currency Club is implementing Experian’s Authenticate Pro Web service which validates and verifies existing and prospective customers.
Director Sam Thakkar said: “The deal facilitates a safe and secure environment for The Currency Club’s business to operate in.
“From a business perspective, we needed a solution that would assist us in adhering to the compliance legislation that we are governed by and enable us to grant membership to new customers efficiently.
“The customer has to experience a smooth registration process and, as a business, we need confidence that all the relevant checks are done thoroughly and the risk of fraud has been mitigated.
“Experian is a leader in identity and credit checks, with the ability to draw on multiple data sources.”
Experian fraud and identity solution director Nick Mothershaw added: “We have created a seamless customer experience that encourages trust while making it very difficult for fraudulent activity to occur.
“The robust nature of our software also means The Currency Club has the long-term assurance it has a service that will last and evolve as the business grows.”