Veriff – Baanx Partnership Ensures Trusted User Onboarding for Online Banking Platform


Veriff, a global identity verification provider, today announced that it has partnered with Baanx, a Web3 fintech company and FCA-approved for crypto asset license, to provide identity verification services as a means to help protect Baanx and its users against fraud and money laundering risks. With this partnership, Veriff adds an extra layer of safety and security to Baanx’s online crypto platform, which offers Web3 fintech solutions to clients and their communities, including Cryptodraft and payment authorisation integration into VISA, Mastercard, and other transaction payment systems.

Crypto fraud is on the rise as the industry continues to fluctuate, leaving more room for fraudsters to slip through the cracks. Veriff’s streamlined, AI-powered identity verification technology enables Baanx to confirm the identity of their users during the onboarding process, and ensure that their services are being used only for legitimate purposes. Veriff’s ability to verify more than 11,200 government-issued IDs from more than 190 countries and in 47 different languages, helps Baanx ensure compliance with the local regulations of their global customer base, reducing the risk of fraud and money laundering on a global scale.

As a crypto-friendly company, we are more than aware that the crypto space attracts fraudsters, as they often take advantage of crypto’s decentralization to scam victims out of their funds. Moreover, due to the market’s bearish conditions, the risk of fraud is currently much higher,”  said Mark Evans, CCO & CFO at Baanx. “Our mission is to transition the world from Web2 to Web3 and help bridge the gap between decentralized finance (DeFi) and traditional finance. But we must continue to manage digital assets with maximum privacy and security in order to establish the trust needed to make this evolution possible. With Veriff, we are in a strong position to accomplish this.”

Since integrating Veriff’s technology, Baanx has already reduced the time of their verification process, enabling them to onboard users more quickly and safely than ever before. Currently operating in the United Kingdom and Europe, Baanx plans to securely expand their services to more countries and grow their user base, with the goal of helping more customers manage their digital financial assets.

“Cryptocurrencies are disrupting the world of finance, and the crypto industry has evolved dramatically over the past few years. However, transactions between users are generally  anonymous  and  instantaneous,  providing more  opportunities  for  fraudsters and criminals looking  to  evade  conventional  anti-money laundering controls. And right now, fraud rates for crypto transactions are at an all-time high,” said Indrek Heinloo, COO of Veriff.  “As a result, it’s never been more important for online banking platforms that offer crypto services to be several steps ahead of these bad actors. We’re thrilled to partner with Baanx and work together to help build more trust in the crypto and Web3 space.”


Conquest Planning raises $7.5 million in follow-on investment to accelerate growth and reach new global markets


Conquest Planning Inc., (“Conquest” or “the Company”) today announced it has raised $7.5 million in funding from existing investors Portage Ventures, Fidelity International Strategic Ventures and IGM Financial, reflecting the company’s rapid growth and significant market demand for its financial planning software solution.

Today’s announcement comes less than 18 months after Conquest raised $3 million in a seed funding round and underscores investor excitement and strong support for the company’s mission of transforming the financial planning industry with beautiful, intuitive, and hyper personalized financial plans.

“We are thrilled to receive such strong and resounding support from some of the most reputable and forward-thinking venture capital firms. Each investor provides unique strategic benefits to our business in addition to funding,” said Conquest CEO Mark Evans. “Fidelity International Strategic Ventures offers us great support as we expand into the United Kingdom. Portage and its Power Group affiliation continues to drive strong relationships and exposure both locally and in global markets for us. The investment from IGM Financial – coupled with their purchase of our software to fulfill the financial planning needs of about one million clients coast to coast – has helped us build on our existing momentum here in Canada.”

Conquest offers its customers an intuitive and innovative financial planning software solution that uses artificial intelligence to help advisors and consumers easily understand the impact of holistic financial decisions. The software is adaptable to support consumer-initiated digital planning as well as digital coplanning with an advisor. Clients enjoy a beautiful, simple, and hyper-customized financial plan which reflects in real-time the impact of changes in a client’s financial picture.

“The thesis that led us to invest in Conquest was simple: we wanted to find the best financial planning software company in the world. Little did we know, the best in the world was being built by Mark and his team right here in Winnipeg,” said Paul Desmarais III, Chairman and CEO of Sagard Holdings. “Since our initial investment, Conquest hasn’t slowed down for a moment, and we believe it has transformative potential for the financial services industry globally.”

Since October 2020, the company has signed contracts with market leading firms including IG Wealth Management, Investment Planning Counsel, and Canada Life in addition to a robust sales pipeline of qualified opportunities currently in progress. The company has also partnered with FinTechs and resellers including Flinks, d1g1t, Purpose Advisory Solutions, and Croesus to offer an even wider set of features across the entire advisory value chain, from data gathering to analytics to risk management.