Contego Selected by LuupTo Carry Out KYC and AML Checks


The multi-source fraud reduction and identity verification platform, Contego, announced today that Luup selected Contego’s platform in carrying out company checks for individuals located in North America, Europe, and the United Kingdom. Luup is the leading merchant services provider for e-commerce businesses and the internet which focuses on payments that are cross-border. This ensures compliance with the requirements of Know Your Customer (KYC) and Anti-Money Laundering (AML)

Companies like Luup need an effective and flexible approach to enable them to quickly on board clients. With the right automated processes, Luup will be able to enhance the services they provide. This will help assure their customers that of their commitment to providing secure services to avoid costly risks and limitations that are resource-intensive.

Luup was able to carry out identity verification providers who found that fraud reduction platform of Contego will be able to solve checking requirements that are complex. Luup needs to know the firms for them to be able to comply with the regulations of AML. They need first to verify the existence of the entity and understand the tracing and ownership structure of the company. As part of KYC obligations by Luup, it must run individual checks for verification. Contego worked hand in hand with Luup in creating a risk scorecard to manage customer monitoring and onboarding complexity. Results are combined from various sources via a single API Contego can deliver comprehensively by working with different agencies and data suppliers.

The CEO of Luup, Stewart Lochrie, stated that “Only Contego’s platform can support regulatory requirements according to identity verification providers.  The depth and breadth is pretty impressive and is one of the most low-cost solutions for verification of international data. They are able to combine identity verification individually with negative media and company checks that are hard to find anywhere. According to Adrian Black, the CEO of Contego, to achieve the FCA license, we must work towards developing original products and must be in full compliance with the regulations of the Anti-Money Laundering.

Contego is more than delighted to be working with Luup for the expansion of their client base. We aim to improve and simplify the customer onboarding process of Luup to remove tedious background checks. Our goal is to make onboarding frictionless, and this will only be successful with Luup’s help. Hand in hand we will work together to build new services and achieve the FCA license.


Justin Cohen covers large and mid-cap healthcare stocks. Justin joined Micro Cap Mag in 2013 to work as an associate on the Biotechnology team. He quickly moved into his current Senior Analyst role earlier this year.

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