Partner Article

Online verification firm heads to Europe

A NEWCASTLE-BASED online verification company has announced plans for European expansion, having enjoyed rapid growth since its launch in 2008.

Veriphy LTD – which provides access to anti money laundering checks, credit checks and property valuations - has recently created a new company test for businesses, and is now looking forward to opening new markets.

Managing director, George Stark, said: “We are increasing the range of products available to clients on the back of a fantastic year and in response to requests by our users. By adding these new services on the same free to join and pay-per-use model we will see accelerated growth.

“It’s critical that businesses have available to them an easily accessible platform where they can find all the sensitive information they need, and that’s what we’ve created for them.”

With almost 4000 users across the UK, Veriphy is one of the largest suppliers of online verification services in the country and has warned businesses can’t afford to ignore the risk of fraudsters and money launderers.

“If you don’t do your checks properly, individuals within a company can be jailed and suffer unlimited fines against them, even if money laundering hasn’t taken place,” said Mr. Stark.

“After all we’ve been through as an economy, it is essential people check who it is they’re doing business with.”

Since Veriphy went live in February 2008, the company has enjoyed month on month increases in their customer base and aims to double in size by the end of the year.

George Stark added: “We launched the company during one of the worst economic stages time in history, yet month on month our customer base and usage has increased by 15%. It doesn’t matter which country a business is based, they all have the same issues and anti money laundering legislation is Europe wide and has to be adhered to.

“We will be moving into Ireland this year and we’re determined to expand into other countries.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .