Silverbird Selects Resistant AI’s Document Forensics for Swifter Customer Onboarding and Fraud Detection Across Multi-Currency Foreign Payments

Resistant AI, the AI- and machine learning-powered financial crime prevention specialists, today announces that Silverbird, the digital alternative to traditional banking making business payments borderless, limitless and affordable for international merchants, has adopted Resistant AI’s Document Forensics to secure its customer onboarding process.

Resistant AI’s technology will enable Silverbird to increase the efficiency and accuracy of its customer onboarding (KYC) and source of funds (SOF) checks for its merchants making transactions across 195 countries, in 30+ currencies, 100% of which are carried out online. The technology will quickly and accurately validate the decisions made by the Fraud and Risk team at Silverbird, supporting business growth without additional time burden for the team.

Silverbird offers its business customers multi-currency accounts for foreign payments, which are easier to work with and faster than banks due to the speed with which payments can be made. For example, 98.9% of transactions through Silverbird are instantaneous, with the remainder 1.1% taking just a couple of days. With 500-plus merchants across 200 countries worldwide, working in multiple industries and currencies, customer onboarding is currently undertaken through an online portal to submit incorporation documents and proof of address (POA) to verify that the business is genuine. Resistant AI’s technology uses over 500 detectors to analyse the internal structure of a document, its metadata properties and visual structure to streamline and enhance Silverbird’s application process, which is of huge importance to the company at their current stage of growth.

Resistant AI’s Document Forensics is a proven technology that increases the speed of customer reviews and onboarding, using machine learning to verify the authenticity of digital documents from across the globe in seconds.

Martin Rehak, CEO and Founder of Resistant AI says, “We look forward to helping Silverbird revolutionise their onboarding process, becoming more efficient and reducing risk in an industry that is increasingly attacked by fraudsters. Silverbird will be better equipped to adapt to progressively pernicious threats, and we are proud to support them on their journey to expansion.”

Max Faldin, CEO and Founder at Silverbird says, ‘Across our industry we’ve witnessed a spike in forged documents, and those are just the ones we’ve spotted. If you apply the same metric to ones you can’t see – it’s clear that it’s a growing challenge, with gangs of fraudsters knowing how to do this better than ever before. By using Resistant AI’s Document Forensic solution we will be better able to detect the advanced fraud tactics that are almost impossible to spot with the naked eye, across a huge number of data points. We are keen to pass on the benefits of this increased security to our customers as our business grows.”