Further and Yoti partner to power the next generation of financial products
Investment platform Further has today announced a new partnership with digital identity provider Yoti, who will streamline the customer onboarding process, making it faster and easier for people to invest in their chosen funds.
Under Financial Conduct Authority (FCA) rules, Further is required to provide appropriate identity evidence for investors when transactions take place. This is to prove that all investors seeking to invest in a fund via Further are who they say they are.
By using Yoti for digital identity verification, Further will strengthen their KYC and AML processes, offer frictionless onboarding and faster processing times. Yoti’s digital identity checks take less than five minutes to complete; speeding up the identification process.
Further, a London-based startup, connects retail investors with high-quality venture capital funds, at scale and with minimum investment levels never seen before in the market. This enables many new retail investors to invest in venture funds, from as little as £1,000. Further’s platform offers investors a selection of venture capital fund investment opportunities, from a variety of well-known UK tax-advantaged and international venture capital fund managers.
Rob Tominey, Further CEO said, “We’re thrilled to be working with Yoti on identity verification and AML, which has been seamlessly integrated into Further’s onboarding process. To deliver a high quality, premium, trustworthy experience for today’s investors, it was important that we found a tool with a user experience that matched our own and was straightforward to use across devices – and Yoti have delivered on this. We look forward to growing Further alongside the team at Yoti.”
John Abbott, Chief Commercial Officer at Yoti, said, “We’re really pleased to be working with Further to power the next generation of financial products. Our identity verification technology will strengthen and streamline their customer onboarding, and create a frictionless and secure experience. There’s a growing desire for better experiences from consumers and our technology can fast track processes that historically have taken up significant time and effort. Individuals can pass identity verification checks quickly and focus on what’s important – their investment decisions.”