In order to assist users in adhering to the requirements of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Plaid has announced that it will make its identity verification and KYC solutions available in Canada.
Canadian businesses will be able to confirm the identities of users from more than 200 countries after Plaid integration, according to a blog post written by Plaid’s head of identity, Alain Meier. Customers will be able to comply with multiple FINTRAC verification methods, including direct integration with credit reporting agencies in accordance with the supervisor’s credit file and dual-process requirements.
Plaid Identity Verification, or Plaid IDV, was launched in May 2022 and is already available in the UK and the US.
Read More: Plaid rolls out identity and KYC integration in Canada
