Veratad Technologies Combines Identity Solutions and Bank Kernel Fintech Software

Veratad Technologies, a leading supplier of identity verification systems, has completed its integration with Kernel Edge Technologies Ltd, also known as Bank Kernel. They hope to work together to help fintech clients get to market swiftly and safely.

FREMONT, CA: Veratad Technologies, a leading supplier of identity verification systems, has completed its integration with Kernel Edge Technologies Ltd, also known as Bank Kernel. They hope to work together to help fintech clients get to market swiftly and safely.

Businesses can design customer experiences that include sophisticated identity verification solutions, total current and checking accounts, digital wallets, debit and credit cards, and foreign exchange (FX) solutions using the Bank Kernel Fintech Development Kit (FDK).

Bank Kernel provides a scalable set of microservices, management applications, and white label-ready user experiences to assist fintech founders in launching and managing a retail banking account offering. In addition, the FDK includes secure web apps and native mobile banking experiences for users, account management tools, and a core banking engine that connects with industry-leading fintech API suppliers.

The software suite pivots on Veratad's identity verification solutions for customer onboarding and KYC/AML compliance management; all delivered effortlessly through a single integration.

"Veratad is thrilled to work with Bank Kernel on this revolutionary bank-in-a-box concept," says John E. Ahrens, CEO, Veratad Technologies. "Bank Kernel gives fintechs everything they need to create and market a full-scale product, from mobile and web apps to extensive banking capabilities and risk management tools. Digital identity verification is a must-have as the financial industry seeks to modernize onboarding and provide a smooth customer experience, and we are eager for our solutions to continue playing a part in that innovation."

Through the FDK, both Veratad and Bank Kernel integrate services to and from various partner companies, such as directly linking to Railsbank's worldwide open finance platform to enable end-user bank accounts, digital wallets, etc. Mastercard and Visa connections, FX, and more. In addition, the kit can scale with a technology stack that can be licensed and used as-is or customized to meet the different demands of fintech organizations.

"Our mission at Bank Kernel is to provide fintech founders who may not have a technology team, nor a lot of money to spend, with solutions and guidance enabling them to build, launch and scale," says Nigel Reading, Head of Business Development, Bank Kernel. "We know that regulated markets like Financial Services require robust AML and KYC solutions, and that verifying the identity of customers around the globe takes real innovation and flexibility. We are immensely proud to have Veratad's world-class AML and KYC tools built into the suite."