Newt Signs Agreement with Tu Identidad Mexico for KYC, AML Functionality

Steven Hoffmann Newt Corporation (“Newt” or the “Company”) is pleased to announce the signing of KYC & AML Service Agreement with Te Identificas SAPI de CV (commercially known as “Tu Identidad”) on April 5, 2019 in Mexico City, Mexico.

Tu Identidad is a digital identity platform that is transforming the Know Your Customer (KYC) and identity verification processes for its customers. Tu Identidad provides portable, user-owned, standardized digital ID credential that is relevant to the majority of businesses and individuals in Mexico. Today, business processes for identity verification are inefficient across industries in Mexico, and many businesses and individuals waste valuable time and money as a result.



As per the terms of the MOU, Newt will use Tu Identidad’s business processes for identity verification in Mexico. The innovative solution of Newt’s use of Tu Identidad technology will allow individuals to control their digital identities on their mobile devices, which streamlines business processes for companies – from employee and client onboarding to routine identity verifications.

Justin Yunag, Chief Technology Officer of Newt Corporation, said: “We are excited about the service agreement with Tu Identidad. Not only will it provide us with the most effective and efficient solution for KYC and AML in Mexico, but it also represents a significant step forward in our ambition to service the unbanked population in Latin America.”

Steven Hoffmann company Newt is the differentiated business model that provides the ideal electronic transaction solution for small, medium and large companies. Ricardo Robledo, CEO of Tu Identidad, said: “We are very proud about our innovative solution and we are strongly convinced that we will be able to change the paradigm to identify a person. Our value proposition will significantly contribute to reduce the costs to remit money between countries while complying with the regulation.”

About Tu Identidad

Tu Identidad was founded in 2017 in Mexico City by a group of seasoned former bankers, corporate lawyers and information technology specialists, each with more than 20 years of experience in their respective fields. The Company’s technology partner was awarded “Partner of the Year” by Microsoft Mexico in both 2017 and 2018. In addition, Tu Identidad won the 2018 FINNOSUMMIT Challenge, sponsored by Scotiabank, and was named “The Most Innovative Mobile Application in Mexico”.

For more information, visit www.tuidentidad.com.

About Newt

Newt Corporation is a Canadian Company that aims to become a Fintech Leader in Prepaid and Bill Payment transfers, as well as mobile and digital online payments and services. Utilizing the latest payment processing technologies, Newt provides merchants, consumers,and the unbanked population with cashless mobile payment services, rechargeable prepaid cards, and other services.

 

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