US-based online mobile payments and identity verification company Jumio is acquiring strategic partner and KYC, compliance and fraud prevention solution provider 4Stop. The deal is expected to close early next year.

The acquisition of the Germany-headquartered company will help Jumio advance “ end-to-end identity” solutions, a statement said.

The two companies will provide a customer identity lifecycle management offering within a single, unified platform, including configuration and integration through an API.

4Stop was founded in 2016 and acts as a global data marketplace and orchestration hub, with over 650 data sources across 195 countries.

“Today’s pace and sophistication of cybercrime means organisations cannot afford to rely on multiple vendors for their identity verification and fraud prevention needs.

 

There’s no way around it: a successful identity company must now have KYC, AML, KYB and orchestration. Together, 4Stop and Jumio’s solutions will offer this and more, delivering a complete, end-to-end approach to identity orchestration and fraud prevention,”

said Jumio CEO Robert Prigge.

“It has always been 4Stop’s passion to establish a modern, end-to-end and versatile data and risk management platform to better serve business’ global compliance and fraud defences.

 

Our online ecosystem and regulations are constantly evolving. Businesses need to quickly adapt and sync with leading technology and obtain future-proof sustainability,”

said Ingo Ernst, CEO at 4Stop.