Riverty Collaborates with Sinpex for Optimized KYC Workflows in its Retailer Portal

^{Caption: Dr. Camillo Werdich (CEO of Sinpex GmbH) and Marc Pittig (Managing Director of Riverty GmbH) (from left to right)}

Munich, January 14, 2025 – Sinpex, pioneer in automated KYC solutions and digital application routes, announces the expansion of its partnership with Riverty. For over two years, Riverty has been using the Sinpex platform both nationally and internationally, including in Germany and the Netherlands, to accelerate and optimize the onboarding process for merchants in the Riverty Merchant Portal.

Riverty, a leading financial services company and part of the Bertelsmann Group, supports merchants and consumers in over 80 million transactions per month. With customized payment solutions and collection services, Riverty promotes economic growth and financial freedom by putting societal needs at the heart of its fintech solutions to create a responsible business cycle.

The integration of the Sinpex platform into the Riverty Merchant Portal enables a more efficient and seamless onboarding process. The Sinpex solution is used for various onboarding processes, including the document analysis of register documents, the connection to credit agencies such as Creditreform and the automation of the entire KYC workflow. For example, the onboarding process starts with a credit check via a connected credit agency as a prerequisite for the continuation of the further KYC process. In addition, the integration of two different ID&V providers enables comprehensive verification and offers an enhanced customer experience. The ID&V process is triggered directly from the Sinpex platform and the results flow automatically into the respective Sinpex case. This ensures that all relevant information is available in one place.

Thanks to the Sinpex platform, Riverty is able to achieve decisive improvements:

- Increased efficiency: The automation of workflows reduces manual intervention and therefore internal effort

- Accelerated onboarding times: Standardized processes and the connection to external systems guide retailers through the process more quickly, thereby increasing conversion.

- Reduced transmission errors: as all data is recorded and processed centrally, a standardized, structured file is automatically created.

“We have decided to expand our partnership with Sinpex in order to make the onboarding process even more efficient and simplify it further for our dealers,” explains Marc Pittig, Risk Governance Lead at Riverty. “The cooperation enables the automation of workflows, allowing us to offer our customers a significantly faster and smoother process while meeting the highest compliance standards.”

The collaboration with Sinpex has enabled Riverty to successfully implement a scalable and standardized KYC solution in Germany and the Netherlands. This contributes significantly to merchant satisfaction.

About Sinpex‍

Sinpex is a leading provider of automated identification and compliance solutions for the B2B sector. The cloud-based software reduces the manual effort involved in recording and checking KYC/KYB-relevant data and at the same time increases the accuracy of the legitimization of business relationships through the use of artificial intelligence.

About Rivery

Riverty, the innovative fintech from Bertelsmann, supports thousands of merchants and over 26 million consumers with the processing of more than 80 million transactions per month. Whether flexible payments, receivables management or intelligent accounting solutions, Riverty empowers businesses and consumers with innovative financial services. With a dedicated team of over 4,000 employees in ten countries across Europe and North America, Riverty is a leading provider of comprehensive financial solutions.
www.riverty.com

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Media Contact

Riverty
Kristina Hunter Nilsson
Corporate Communications Lead
press@riverty.com