AU10TIX Boosts FXCM ID Document Approval Rates by 29%, Enabling Revenue Growth
TEL AVIV, Israel and LONDON, April 3, 2024 /PRNewswire/ -- AU10TIX, a global technology leader in identity verification and management, and Stratos Group of companies (collectively, the 'Stratos Group' or 'FXCM'), a leading provider of online foreign exchange (FX) trading, stocks and other CFD trading and related services, today announced a successful partnership that has bolstered user security and optimized the onboarding process on the FXCM platform, increasing ID document approval rates by 29% and impacting revenue growth.
- FXCM solved this business challenge by integrating AU10TIX's Identity Verification (IDV) Suite , Web SDK and biometric solutions into the FXCM platform.
- AU10TIX's advanced algorithms and extensive security databases streamlined FXCM's validation processes, resulting in a significant improvement in document approval rates from 62% to 80%.
- The swifter onboarding resulted in lower abandonment rates and thus expanded the opportunity for revenue growth.
- "At FXCM, ensuring a seamless and secure onboarding experience for our customers is a top priority," said Teodora Mladenova, eKYC Product manager at FXCM.