Based out of Cologne, Germany, with offices across North America and Costa Rica, 4Stop, is a leading KYC, compliance and fraud prevention provider company. The company is solving business risk-based approach through a modern, all-in-one KYC, compliance, and anti-fraud solution. 4Stop, has now brought trusted information, managed services, software and expertise under a single roof that helps its clients confidently manage regulatory obligations and fraud risk to accelerate their business performance. The 4Stop platform has been developed with a full understanding of compliance needs — locally and globally, today, and in the future.
“We’re very excited for the future because our technology is not only relevant for today but will support businesses in their future to solve their obligations on their risk-based approach, with fail-safe accuracy and in the most streamlined, efficient manner possible,” mentions 4Stop CEO Ingo Ernst.
The company helps businesses manage each and every step of their KYC process as they understand the importance of being able to demonstrate a complete audit trail to the regulator. “By adopting a risk-based approach to KYC – rather than simply ticking boxes in an attempt to satisfy the regulator – our clients are empowered to identify the real risks hiding in business relationships,” adds Ingo Ernst.
Providing Real-Time KYC Data Services
With its roots in servicing highly regulated industries at an enterprise-level, 4Stop global compliance and risk management platform brings together hundreds of global premium data providers. All of which helps to create an elite suite of KYC data sources with the ability to activate and deploy in real-time through one simple API. All backed by the organization’s real-time cascading KYC verification logic, data science, and its proprietary anti-fraud technology with advanced real-time monitoring capabilities. Thereby, making 4Stop the all-in-one solution provider for businesses to effortlessly adhere to their global compliance and KYC requirements.
- Global KYC Data Services in Real-Time
4Stop provides instant access to hundreds of KYC global data sources, with the ability to activate and deploy KYC data sources in real-time. Additionally, the company provides fully customizable options to their clients, which ranges from flexible pricing to adding extra KYC data source within a 10-day SLA integration.
- Global Compliance to Enter and Transact in Any Market with Confidence
4Stop always helps its clients to stay current on all compliant requirements for regulatory authorities, such as; FCA, Bafin, Fincen and Fintrac (Future-proof compliance through 4Stop’s KYC data aggregation service offerings). The company also ensures compliance is operational at each stage of the customer journey, and provides reporting tools in order to streamline the process to submit reports to regulatory bodies.
- World-Class Fraud Prevention Tools
4Stop’s proprietary anti-fraud technology supports enterprise-level volumes and provides multi-layered customization for improved reaction times and optimal protection against fraud. Its powerful rules engine with more than eight hundred pre-determined rule sets, an immediate free-form rules creator, custom rule weighing and real-time rule deployment, alongside automated customized parameters on system actions, in-depth customer profiling, association logic and time-frame intelligence, 4Stop helps its clients prevent fraud.
- Data Science
Quantifying business and risk management decisions based on data and reports is severely critical, while entering new markets globally. And 4Stop lets its clients see the whole market picture, ensuring optimal configuration of fraud prevention is enabled to expand with confidence.
The Charismatic Leader
4Stop is led by Ingo Ernst who is the CEO and the Co-Founder of the company. Ingo is a committed Fintech entrepreneur, with brilliant technical knowledge, operations management, and supervisory skills procured from over fifteen years of undertaking a series of highly challenging roles within the risk industry for large international organizations. His extensive involvement in developing risk management and compliance software combined with his massive experience, gave him a great understanding and relatability to businesses KYC, compliance and fraud prevention needs; combined with his ability to effectively establish a resolution to those needs and adapt proactively to risk landscape.
Throughout his career Ingo has successfully implemented different operational processes and managed multi-discipline teams across the planet, which eventually helped him to improve overall business performance output and team culture.
Before founding 4Stop, Ingo worked as a Risk Manager in Deutsche Bank, Operations and Processing Manager & Global Operations Director in Innovative Data Solutions. Later he worked for Vogogo as the Head of EMEA and at AcuityTec in Sales EMEA/Product Strategy.
Helping Enterprise-Level Businesses to Process Transactions Globally with Confidence
The founding partners of 4Stop already had a background in the payments and risk management space. Having worked in executive positions at different acquiring banks, marketplaces, and large-scale eCommerce businesses, they felt a constant need to improve the compliance, anti-fraud and risk management features at each and every level.
Know Your Customer (KYC) for regulatory requirements continues to evolve both in the terms of due-diligence required and the level of complexity in which it is performed. Financial institutions, banks and their customers are constantly managing the ever-changing regulatory landscape and trying to find new streamlined and cost-effective methods to integrate changes when they occur. According to 4Stop’s Chief Regulatory Officer Alvaro Kurth, “While compliance is not an option but a legal requirement, these businesses must integrate processes that satisfy the regulator, while still delivering a positive customer experience.”
However, the primary obstacle in setting-up a streamlined risk-based approach and a globally scalable set of data providers for compliant KYC procedures is the challenge of having to integrate various data providers at different touch points in the customer experience. Traditionally this has been solved by various API integrations, Backoffice Management Systems and the teams under a leadership approach applying a patched work around to establish thorough KYC or risk checks on clients and transactions.
The founding members of 4Stop wanted to establish a solution. A single API integration that provided a single Backoffice Management System with robust flexibility to enable global data sources in real-time, coupled with advanced risk management tools, such as real-time dynamic rule sets. “We did not know what will all change in the coming years, however one thing was certain, that change will be on-going as the regulating bodies in the various verticals related to online payments continue to tighten their rules and regulations framework to move closer to a fully supervised and compliant payment ecosystem,” said 4Stops CEO Ingo Ernst in a statement.
Standing Out Amongst the Crowd
4Stop is distinguishing itself from its industry competitors by solely focusing on providing global KYC for compliance, in a fail-safe, future-proof, simplistic, and real-time manner. According to the company, the main pain point for the market was the ability to activate required KYC per localized regulation, without the need for multiple integrations and to perform verifications in real-time. However, thanks to 4Stop and its solutions, nowadays the pain point can be eliminated quite easily, and businesses can now expand into a number of markets around the globe confidently as their risk is managed.
Through the 4Stop platform, businesses now have the instant access to hundreds of KYC data sources in the industry, with the ability to activate and deploy their required KYC data sources in real-time, all via just one simple API. All these alongside 4Stop’s real-time cascading KYC verification logic, businesses can now validate their customers in the most effective manner possible, with real-time results, real-time monitoring, and intelligence in order to ensure best possible accuracy, compliance, and fraud prevention.
The differentiator on future-proofing businesses relays back to the ability of simple management of KYC requirements. The brilliant platform of 4Stop already possess hundreds of global KYC data sources integrated that can support present and upcoming regulatory requirements. However, the 4Stop team is dedicated to ongoing data aggregation and integrations to ensure that the company stays ahead of the compliance requirements evolution. Hence, allowing businesses to be compliant and stay compliant with confidence, regardless of their industry, where they transact and compliance updates. Managed all through just one platform and a one-time simple API integration.
Additionally, 4Stop’s risk and compliance consultants boast massive experience of more than fifteen years, and provide full KYC guidance to all their clients. The guidance eventually helps to activate the perfect KYC data sources that are specifically required for the respective industry and transactional regions regulatory obligations. The organization also works with its client’s operations team to ensure the accurate configuration of KYC rules to obtain much needed fraud protection to maximize business performance.
A Unique Organization
4Stop is slowly shaping itself to be a unique organization by being the largest provider of KYC data sources across the globe available from a single integration. It also instantly activates and deploys KYC in real-time. Additionally, the organization provides single view of risk with real-time monitoring and real-time cascading KYC verification logic and real-time verification performance output.
Tackling Stormy Weather and Future Planning
“The market was not ready at the time we were looking to expand globally. The entry level barriers and sales cycles were still high and long because businesses like marketplaces, financial institutions and large players in various verticals did not feel the regulatory pressure to implement global KYC and compliance procedures and data sources. With the PSD2 and 4MLD this perception and recognition for ensuring required KYC and compliance processes are implemented has changed drastically.”, states CEO Ingo Ernst while talking about initial struggles of the company.
4Stop is very passionate about risk management and it is making it as effective, efficient, and simple as possible for businesses to manage their regulatory obligations. They are dedicated to the continued investment into market-leading technology and partnerships that will support their solution to be the best-in-class and the one-stop solution to fully manage and/or complement businesses existing risk management processes.
With PSD2, 4MLD and GDPR evolutions taking action in 2018, 4Stop has a tenacious dedication in ensuring businesses are aware of the regulatory change and to have them ready to take on this change with absolute confidence and zero impact on their business. 4Stop has implemented the required KYC data sources and functionality into their platform that are required to support this regulation update, and businesses can now instantly be PSD2 and GDPR ready through just one simple integration of 4Stop.