Canada’s FinTech thirdstream Announces Identity Verification Partnership with Thales

 

thirdstream adds to its IDV innovation lineup, bringing Thales IdCloud KYC and AML to market. The move enables liveness and selfie-enabled IDV capabilities.

LETHBRIDGE, ALBERTA, CANADA, August 12, 2020 /EINPresswire.com/ — Today, Canadian FinTech leader thirdstream announced a new partnership agreement with Thales as part of its cloud-based deposit and lending account origination ecosystem. Thirdstream will deliver the Thales IdCloud KYC and AML solutions, serving over forty Canadian credit unions, banks and trust companies. Thirdstream’s partnership with Thales to integrate their world-renowned digital identity verification services represents the fourth major innovation that thirdstream has announced in the past twelve months.

“Incorporating Thales IdCloud KYC services was a strategic choice for us, since it gives thirdstream a head start helping clients leverage the FINTRAC ‘Government Issued ID Method’ published in November, 2019, around unattended account opening,” said CEO Keith Ginter. “We designed the platform to adopt the latest identity repositories and technologies to enhance the quality of the consumer experience. As a result, we ingested these new regulations in weeks. By adding Thales technology to our extensive list of ID verification methods, we are continuing to increase those success rates in the unattended origination space.”

The Thales KYC and AML solutions will help streamline client onboarding and provide further due diligence and risk assessment options by accessing additional data repositories on applicants. This will offer financial institutions added confidence in their decision-making.

Thirdstream’s integrations support attended and unattended account origination for deposits and loans. The solution optimizes the journey through financial and device fraud, identity verification, credit decisioning and real-time account funding. Thales verification solutions further enhance clients’ ability to approve, open and fund accounts and credit applications in real-time, with a wider range of applicants.

“Thales is thrilled to extend thirdstream’s on-boarding platform with our cutting-edge, best-in-class ID Document Verification and AML check services technology,” said Brian Hirman, Thales Canada’s Vice President of Banking and Payment. “This partnership will most certainly accelerate the transition of banks and other institutions towards a fully digitalized, real-time customer on-boarding process while maintaining the highest levels of security”.

“Our ecosystem design accommodates the continuous integration of additional third-parties. We now offer clients over thirty integrations. This is another example of the team at thirdstream working with a recognized market leader, building on our foundation, and delivering superior identity verification and fraud detection outcomes.” Ginter added.

Thirdstream’s account opening and lending solutions are deployed on Microsoft Azure, designed for online and in-branch experiences for retail and commercial applicants. The solution set accommodates originations anytime, anywhere, from any device.

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About thirdstream
thirdstream, headquartered in Lethbridge, Alberta, provides digital account opening solutions, online and in-branch, to over forty clients. From identity verification to account funding, thirdstream’s solution set supports consumer acquisition, business onboarding, and unsecured retail lending and credit card adjudication. The platform is cloud-deployed, designed for retail and business consumers seeking out financial institutions, and for financial institutions targeting consumers anywhere, anytime, from any device. To learn more, visit thirdstream.ca.

About Thales
The people we all rely on to make the world go round – they rely on Thales. Our customers come to us with big ambitions: to make life better, to keep us safer. Combining a unique diversity of expertise, talents and cultures, our architects design and deliver extraordinary high technology solutions. Solutions that make tomorrow possible, today. From the bottom of the oceans to the depth of space and cyberspace, we help our customers think smarter and act faster – mastering ever-greater complexity and every decisive moment along the way. With 80,000 employees in 68 countries, Thales reported sales of $22.4 billion in 2018, on a pro forma basis including Gemalto.

In Canada, Thales is a leader in research and technology, combining over 50 years of experience with the talent of more than 2,000 skilled people located coast-to-coast. With revenues of over $850 million, Thales Canada offers leading capabilities in the urban rail, civil aviation, defence, digital identity and security sectors, meeting the most complex needs and requirements of its customers across all operating environments.

To learn more, visit thalesgroup.com.

2020-08-12T08:30:59+00:00 August 12th, 2020|Categories: announcements, news, partners, press releases, products|0 Comments

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