Trading education platform FTMO has adopted iDenfy’s Know Your Business (KYB) verification technology.

This integration allows FTMO to automate the verification of corporate clients accessing its trading simulation environment, helping the company manage its growing international presence and the challenges associated with onboarding business entities from various jurisdictions.

With more than 240,000 accounts worldwide, FTMO operates a simulated trading platform using real market data. Although not subject to traditional financial services regulation, the company has implemented automated verification tools as part of its risk management strategy and compliance practices.

Scalable Business Entity Verification

The KYB solution cross-references multiple types of corporate documents such as certificates of incorporation, register extracts, shareholder information, and beneficial ownership data. FTMO’s platform is connected to over 180 company registries across more than 120 countries, offering real-time access to business information for global entity verification.

iDenfy’s system also includes AML screening and ongoing monitoring features that check customers against sanctions lists, Politically Exposed Persons (PEPs) databases, and other global watchlists. Automated workflows streamline standard verifications, allowing FTMO’s team to concentrate on high-risk cases needing further investigation.

FTMO reports that the implementation has saved at least 40 hours of manual processing time per week while maintaining an onboarding success rate of up to 98%. The configurable nature of iDenfy’s procedures enables FTMO to tailor verification processes according to their specific needs and regional regulations.

iDenfy is a U.S.-based RegTech company that provides identity verification and fraud prevention solutions. It offers KYB, Know Your Customer (KYC), and AML compliance tools for businesses in various industries.