Scalapay, a trailblazer in the Buy Now Pay Later industry, has taken a significant step toward bolstering its commitment to regulatory compliance. Backed by its newfound status as a payment institution, Scalapay has forged a strategic partnership with Fourthline, a prominent RegTech provider serving the financial sector in Europe.
In its role as a regulated financial institution, Scalapay diligently navigates the intricate landscape of ever-evolving regulatory requirements across all European countries where it operates.
The alliance with Fourthline equips Scalapay with cutting-edge technology capable of ensuring sustained compliance while adapting to the evolving European regulatory framework. Fourthline offers an array of solutions to banks and fintech companies, automating KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in accordance with local mandates. Their proprietary technology leverages artificial intelligence techniques, including computer vision, biometric data analysis, and optical character recognition.
Florian Jensen, Chief Risk Officer at Scalapay, expressed, “Scalapay’s partnership with Fourthline underscores our unwavering commitment to upholding the highest regulatory standards while driving innovation in the fintech sector. We are eager to collaborate with Fourthline, harness their expertise, and enhance our capabilities in meeting regulatory demands.”
Krik Gunning, Co-Founder and CEO of Fourthline, highlighted Italy’s pivotal role in their growth journey, stating, “Our partnership with Scalapay marks a significant milestone in our dedication to the Italian market. With our innovative solutions and Gabriele’s expertise as our country manager, we are well-positioned to provide unparalleled value to our Italian partners and elevate their regulatory compliance efforts.”
