Scalapay Establishes Strategic Partnership with Fourthline to Enhance Regulatory Compliance

Published 8 months ago

Scalapay, a pioneer in the Buy Now Pay Later sector, has entered into a strategic partnership with Fourthline, a leading European RegTech provider. This move is an effort to bolster its commitment to regulatory compliance, leveraging its new status as a registered payment institution.

Enforcing Compliance in a Dynamic Regulatory Environment

Scalapay is committed to ensuring adherence to an ever-evolving array of regulatory requirements across Europe where it operates. This partnership with Fourthline equips Scalapay with robust technology that guarantees compliance over time and adapts to the shifting regulatory landscape in Europe.

Fourthline: Ensuring Compliance through Technology

Fourthline offers a suite of solutions that allow banks and fintechs to undertake KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures automatically, ensuring compliance with local requirements. It utilizes AI techniques such as computer vision, biometric data analysis, and optical character recognition. This technology aids in customer identity verification and prevents money laundering, helping organizations maintain high standards of regulatory compliance.

Commitment to High Standards and European Growth

Florian Jensen, Chief Risk Officer at Scalapay, expressed satisfaction with the partnership, citing the quality of Fourthline’s platform, the precision of their technology, and their profound understanding of the financial sector. This partnership, according to Jensen, underscores Scalapay’s commitment to upholding the highest standards of regulatory compliance while focusing on European growth and innovation in the payment industry.

Fourthline’s Commitment to the Italian Market

Fourthline’s CEO, Krik Gunning, highlighted the importance of the Italian market in the company’s growth journey. The partnership with Scalapay marks a significant advancement in Fourthline’s commitment to this market. By providing innovative solutions and leveraging the expertise of its country manager, Gabriele, Fourthline aims to deliver unmatched value to its Italian partners and augment their regulatory compliance efforts.

About Scalapay

Scalapay is a global payment solution for retailers that allows customers to buy now and pay later in three or four interest-free installments. This service enhances the shopping experience by giving consumers access to the best quality brands and items without impacting their budget. Currently, over 5 million European users and more than 5,000 stores and 7,000 physical points of sale utilize Scalapay.