Fintech startup, DocFox, has announced a partnership with Norton Rose Fulbright, a global law firm, which aims to provide companies with a simpler way to complete their FICA compliance process.
“DocFox is a sophisticated yet easy-to-use web application that helps customers submit their FICA documents electronically in a just a few taps. Customers can upload copies of their proof of identity and address documents, or submit documents using their smartphone camera,” said DocFox CEO, Ryan Canin, in a press release to Ventureburn.
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The web-application conducts various fraud checks to ensure document authenticity and compliance; it also allows all communications with clients to be white-labelled by the institution.
“Our firm advises many of the world’s leading banks, asset managers, financial investors and insurers and consequently has detailed country-specific regulatory knowledge,” said director at Norton Rose Fulbright Marelise van der Westhuizen.
DocFox has already signed various companies to the ‘Know Your Customer’ tool
“We have worked with DocFox to codify FICA legislation into intelligent decision engines which assess what is required for every application in a simple, secure and compliant way. We are also closely monitoring know-your-client trends in compliance internationally,” she continued.
DocFox has also voiced its plans to extend their reach into international territories such as the US, Canada, and Europe. In addition to their partnership and plans for expansion, Canin has already attracted investment from Silicon Valley and other parts of SA.
Rand Merchant Investments (RMI) senior investment executive, Dominique Collett commented on DocFox saying “DocFox has found a way to address a very real problem that all financial institutions face daily while adding tremendous value and removing a real pain point.”
Doc Fox is a Gold Member of AlphaCode, an initiative of RMI.
“The partnership with Norton Rose Fulbright makes this startup even more attractive – the backing of a global law firm which has vetted processes gives potential clients peace of mind and DocFox instant credibility,” she concluded.
Featured image: Isaac Bowen via Flickr
