National Clearing Company Pakistan Limited (NCCPL) has announced its collaboration with a UK-based Idenfo for authorized intermediaries.
Idenfo is a UK-based fintech, specializing in Anti-Money Laundering (AML), FATF, and compliance solutions. It has a headquarters in the U.K. along with global operations and a local presence in Pakistan. Furthermore, Idenfo offers comprehensive solutions for AML, KYC, FATF, and compliance solutions for Financial Institutions.
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Moreover, the digital platform will facilitate authorized intermediaries, including securities brokers, to increase the accuracy and volume of applications by providing pre-checks on the client. With this, both companies aim to make investing through brokers a frictionless experience.
“We are delighted to partner with an esteemed organization like NCCPL in facilitating this transition to digital onboarding of investors by brokerage services,” said CEO of IdenfoPakistan, Azfar Naqvi.
Founding Director Idenfo, Raza Abidi, who was also present at the ceremony to represent Idenfo UK, spoke about their business potential in the country.
He said, “Pakistan, as an economy, has been heavily reliant on manual processes. With enhanced FATF and other regulatory requirements, this is changing rapidly as more and more clients are beginning to appreciate the existence and convenience of technology in finance.”
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He said, “We intend to narrow the gap further by bringing our global expertise in providing cutting-edge holistic client engagement solutions to Pakistan.”
