At Check Your Customer we are pleased to announce our working relationship with a new client, Flourishing Mart Ltd. Flourishing Mart Ltd operating under the name FM Exchange is a people-focused company with the primary aim of solving the money exchange problems of Nigerians in Canada. FM Exchange is a marketplace for borderless money transfers and currency exchange. The mission of FM Exchange is to close the gap that people from low-income countries typically experience on arrival to a new country.

Using the CYC API to mitigate risks, this partnership will allow FM Exchange to apply to Know Your Customer (KYC) and Anti Money Laundering Checks (AML) standards. FM Exchange is currently operating in Canada but soon expands the service to the United States and the United Kingdom.

This partnership empowers FM Exchange to keep their onboarding process instant, and their integration of new customers easy and simple.

The CEO of Flourishing Mart Ltd, Adegbenga Timi added: “We chose CYC as a provider for two main reasons. First, to use their unique match algorithm that drastically reduces false positives. Second, CYC focuses on serving the payment industry and their team has a deep knowledge and understanding of our needs and processes.”

Data Development Expert and Co-Founder of CYC, Michael Andrä, said: “We are happy to work with FM Exchange and help them remain compliant without putting a dent in their budget.”