Ontology and Shufti Pro signed a Memorandum of Understanding concerning KYC/AML technology integration. The two parties will work together to provide digital identity services and cultivate Ontology’s trust ecosystem.

Digital identity is core to Ontology’s infrastructure. Ontology uses ONT ID as complete distributed identity framework supporting identity verification and authentication for people, assets, objects, and affairs. Ontology’s distributed identity framework was created for users to build their own multi-factor identity portraits which they can authenticate, certify, and use.

Whereas: Ontology is a distributed trust network that focuses on digital identity, data exchange, and other trust collaboration scenarios. Shufti Pro is a fully automated and customizable KYC/AML SaaS service provider, supporting global comprehensive verification solutions. Both Ontology and Shufti Pro share a common understanding and vision to promote user-friendly and innovative identification tools and applications to enhance user experience based on cutting-edge technologies.

Purpose: Ontology and Shufti Pro together will seek to provide compliance-ready KYC/AML solutions based on the Ontology blockchain network. Improving accessibility to various markets that are exploring new methods to facilitate client on-boarding in highly regulated industries.

As such, the Ontology Foundation and Shufti Pro have agreed to cooperate as follows:

Key Cooperation Areas:

Ontology will provide technical expertise and consultation on Distributed Ledger Technologies; Both parties will collaborate in the development of KYC/AML solutions on the Ontology distributed blockchain network infrastructure; Joint PR and marketing promotion of products and services.

Speaking on the cooperation, Victor Fredung, CEO of Shufti Pro, said:

“We are pleased to be starting our partnership with Ontology. We have followed their progress with interest for some time, and now is the right time to move forward. We believe that the combined use of new and innovative blockchain technology with cutting-edge ID and identity verification technology is a powerful combination for global business operations”.

Ontology’s Co-Founder Andy Ji said:

“The emergence of blockchain technology creates opportunities across to discover potential and promising solutions. Ontology is pleased to begin this journey with Shufit Pro, combining blockchain technology with identity verification services, providing a blockchain-based end-solution for KYC/AML services”.

About Shufti Pro

Shufti Pro enables clients to verify and screen anyone — anywhere — at any time with an industry leading 30 seconds verification time on average. Shufti Pro is fully automated and customisable plus having a component of HI, the KYC and AML SaaS is able to meet the latest market standards and compliance requirements. Their clients have global verification reach on any mobile or browser.

For more information, please visit: https://shuftipro.com/.