Professional Bank Partners with Vouched to Accelerate Digital KYC and Identity Verification

Rhea-AI Summary

Professional Holding Corp. (NASDAQ:PFHD) has partnered with Vouched to enhance its Banking-as-a-Service (BaaS) platform, significantly improving customer onboarding and identity verification processes. This collaboration allows clients to open personal checking accounts online in just minutes, utilizing Vouched's advanced AI technology for KYC compliance and fraud prevention. Professional Bank’s Chairman & CEO, Daniel R. Sheehan, emphasized the importance of Vouched in creating a transformative digital onboarding experience, contributing to the bank's growth and market share.

Positive

• Partnership with Vouched enhances customer onboarding experience.
• Clients can open checking accounts in minutes, saving time.
• Vouched's AI technology improves KYC compliance and fraud prevention.
• Configurability allows quick implementation by community banks.

Negative

• None.

The move elevates Professional Bank’s BaaS platform, further enhancing customer experience

SEATTLE--(BUSINESS WIRE)-- Professional Holding Corp. (NASDAQ:PFHD), the parent company of Professional Bank, today announced a partnership with Vouched, award-winning artificial intelligence (AI) powering KYC, identity verification, and seamless digital onboarding for Professional Banks’ exceptional high-touch personal service.

The Bank selected Vouched because of its powerful AI that visually examines and securely onboards new customers in seconds. Vouched helps power KYC, account open, fraud prevention, and account management.

“As a growing commercial bank, Vouched has proven to be an integral component in our transformative digital onboarding experience,” said Daniel R. Sheehan, Professional Bank Chairman & CEO. “Clients can now open a personal checking account online in just a few minutes, saving a lot of time and hassle.”

Critical to Professional Bank’s decision to select Vouched is the AI platform’s configurability. Community banks can implement Vouched in as little as 24 hours. Vouched supports multiple APIs and devices, offers a full white-labeled UI, and adapts and grows with the needs of the bank.

“Professional Bank is a leader and innovator,” said Vouched CEO John Baird. “They repeatedly demonstrate how much they care about their customers by up-leveling their services and experience. This commitment to customers continually shows up in their growth and increased market share.”

About Vouched
Vouched is award-winning artificial intelligence and computer vision that powers end-to-end visual identity verification, KYC, and fraud detection online in real-time. An expert on more than 550+ government-issued identity documents in 60+ countries, Vouched helps banks, fintechs, healthcare providers, and gig and sharing companies verify and onboard users to provide access to life’s most critical services instantly.

Learn more at www.vouched.id. For more information on Vouched, visit www.vouched.id, or contact Vouched communications at 1-800-674-8798 or press@vouched.id.

About Professional Bank and Professional Holding Corp.
Professional Holding Corp. (NASDAQ:PFHD) is the financial holding company for Professional Bank, a Florida state-chartered bank established in 2008 and based in Coral Gables, Florida. Professional Bank focuses on providing creative, relationship-driven commercial banking products and services designed to meet the needs of small- to-medium-size businesses, the owners and operators of these businesses, professionals and entrepreneurs. Professional Bank currently operates its Florida network through nine branch locations and two Loan Production Offices in the regional areas of Miami, Broward, Palm Beach, Duval (Jacksonville), Hillsborough and Pinellas (Tampa Bay) counties. It also has a Digital Innovation Center located in Cleveland, Ohio and a Loan Production Office in New England. For more information, visit www.myprobank.com. Member FDIC. Equal Housing Lender.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005154/en/

Press contact:

Kevin Carpenter, 206.707.2403

Source: Vouched