March 9, 2020 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of KYC & AML Service Agreement with Grupo PT SUMA México S. de R. L. de C.V. (commercially known as “SUMA México”), in Mexico City, Mexico.
SUMA México has created VeriDocID – a true end-to-end “Identity Verification as a Service” solution, that integrates Know Your Customer (KYC), Anti-Money Laundering (AML), biometric authentication, digital identity, and electronic signature – all in one easy to integrate, modular platform. Customers only pay for what they use, while making their business processes easy and secure.
As per the terms of the agreement, Newt will use SUMA México’s technologies for identity verification. The innovative solution featuring this technology will enable Newt’s clients to verify their customers’ identities for both in-person and self-enrollment, which will noticeably streamline business processes, help with digitalization, and facilitate compliance with mandatory regulations for companies, while avoiding identity theft and fraud.
Sergio Maya Aleman, CEO of Newt, stated: “We are excited about the agreement with SUMA México. Not only will it provide us with an effective solution for KYC and AML in Latin America, but it will also tremendously streamline our business processes, while making our SaaS solution extremely secure and fully compliant with international KYC and AML policies. This will also add to our future revenue streams by enhancing capabilities in areas of servicing micro-lenders and banks, who request this technical solution.”
Juan Pablo Romero, CEO of SUMA México,said: “We are very proud of our solution VeriDocID, and we are sure that this agreement will benefit both companies and will allow us to continue innovating in the Identity Verification as a Service industry, thus continuing our mission of being a true end-to-end solution while taking care of the most valuable asset of our customers: their identity.”
About SUMA México
For the past 10 years, SUMA México has remained the most important company in Latin America for identity verification. Guided by their passion, which is verifying the identity of people with whom their customers do business, while helping them take care of the integrity of their most important assets: their companies and their clients – the company believes that there is nothing more personal than your identity.
One of the main features of VeriDocID from SUMA México is enhanced security. The company obtained certification ISO 27001:2013 for information security management, as well as FIDO level 1 for anti-spoofing in fingerprint capture and facial biometric capture. Suma provides their solution to several first-tier international banks and big financial companies, including MUFG Bank in Mexico, one of the “megabanks” of Japan, and Nacional Monte de Piedad, adding constant value to their security processes and digital platforms. That is why more and more customers are choosing VeriDocID for their KYC and AML.
For more information, visit https://sumamexico.com
Newt Corporation is a Canadian Company with subsidiaries in USA, Europe & Mexico, that aims to become a Fintech leader in services of prepaid and bill payment transfers while providing solutions for providers targeting the unbanked market. Utilizing the latest payment processing technologies and partners, Newt provides merchants, consumers, and the unbanked population with cashless mobile payment, bill payment, prepaid products, and other services for mobile devices and Point of Sale locations.
By choosing Newt’s SaaS solutions, users and businesses can take away complex developing internal capabilities of accepting bill payments or point of sales and digital product purchases, allowing merchants a quick and seamless transaction processing, payment acceptance and enhanced digital product line for their businesses in a more secure and efficient way.
Newt’s current platform utilization and client base are expanding in Latin America, thus experiencing an increased growth of businesses using Newts SaaS software solutions. With recent top enterprise companies looking for mobile wallet solutions and new processing capabilities, Newt’s portfolio of services is expanding. Newt’s next generation payment transfer solutions use new methods for payments, digital transfers, and bill payment in a mobile application. The company’s platform has been designed from the ground up for modern digital transfers with an ecosystem with full configurability, open API integration, and enhanced value-added services, and has expanded its B2B market to retailers, money transfer services, and financial institutions.
For more information, visit www.NewtFinancial.com
For further information, please contact:
100 King St. West, Suite 5700
Toronto, ON M5X 1C7
Forward – Looking Information
Certain information set forth in this news release may contain forward – looking information that involve substantial known and unknown risks and uncertainties. This forward – looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, failure to enter into a definitive agreement and complete the Acquisition, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward – looking information. The parties undertake no obligation to update forward – looking information except as otherwise may be required by applicable securities law.