Tycoon Stories

Explore inspiring leadership stories from diverse backgrounds and industries on Tycoon Stories. Gain valuable insights, learn from real-world experiences, and cultivate your own leadership skills.

Shufti Pro

Shahid Hanif’s Success Story From An Engineer To Co-founding Shufti Pro

Shahid Hanif’s story is associated with an innovative idea and motive to secure the digital world. He’s a CTO and Co-founder of Shufti Pro, one of the world’s leading IDV service providers that assist businesses in securing their online platform and protecting customers’ data. It started as a small-scale enterprise in London in 2017, has now been expanded to 240+ countries and territories, and has been recognized by renowned global organizations.

Here is the success story of Shahid Hanif that teaches us how to overcome challenges, the importance of customer care in businesses, and how to use failures as a building block for success:

A Background of Shufti Pro

Shufti Pro is an award-winning global identity verification service provider that works on a B2B scale. The company provides businesses with ID authentication solutions, e.g., biometric, document, and AML screening. It assists organizations in verifying user information through government databases and conducting thorough background checks to minimize the risk of ID scams.

The Idea of Shufti Pro

When pursuing a master’s degree in artificial intelligence from the University of Edinburgh, Shahid Hanif recognized the immense potential of ML (Machine Learning) and AI (Artificial intelligence). He knew that this technology could do things beyond human imagination. Concurrently, he noticed that ID verification was the most compromised industry, primarily reliant on manual KYC and AML processes. Due to its manual approach, it had numerous loopholes and vulnerabilities. Shahid recognized that AI presented an optimal solution for this industry. Then and there, he founded Shufti Pro, a global IDV service provider that synergizes artificial and human intelligence for identity authentication, and that idea became a hit.

Challenges that Shahid Faced in the Start

Prior to Shufti Pro, Shahid Hanif was a software engineer at a tech firm. He was neither an IDV expert nor a cybersecurity professional, but he started this company, which has now become one of the world’s leading identity verification service providers.

He learned from his failures and used those failures as a lesson. The company’s success also lies behind its sturdy vision and strong motive. He failed multiple times and faced many challenges, much like anyone else who would enter into a new industry. But, he never stepped back due to his strong faith, accepted the failures as stepping stones, used multiple strategies, and ultimately succeeded.

Implemented Customer-Centric Approach

“It takes months to find customers and seconds to lose one due to bad customer support.”

That is a famous quote demonstrating customer care’s importance, and Shahid Hanif knew it. He understood the fact that the CS department is the most essential factor in keeping the customers satisfied, and he put efforts into enhancing it. Even before making the operations live, he focused on the customer support department as the top priority. Shufti Pro’s superior help center significantly maintained client relationships in the long run, ultimately contributing to the company’s success.

Quality-Focused Model Rather Than Profit-Focused Approached

Since its inception, Shufti Pro has been providing top-notch services. It invests huge resources and funds in its R&D and product development, resulting in the delivery of the best quality IDV solutions, setting an industry benchmark, and outpacing competitors.

Shufti Pro is one of those few KYC & AML service providers that offer 99.7% accuracy and the first few brands that introduced the e-IDV concept to the world, all possible through their robust R&D and quality-focused approach.

Shufti Pro – Where it Stands Today

During the past 7 years, Shufti Pro has expanded its operations to more than 240+ countries and territories and supports 10,000+ ID document types. Headquartered in the UK, the company has 7 international offices, including Singapore, UAE, Cyprus, Hongkong, USA. The company has introduced 17+ IDV services, including KYC, Enhanced Address Verification, PEP/AML Screening, KYB, Video KYC, NFC, and Risk Assessment.

Last year, Shufti Pro secured $20M in series A funding and won numerous awards, such as “Best KYC Solution for Client On-boarding 2022” and others from renowned publications. The company recently launched e-IDV, which is the latest version of ID verification, utilising government-issued e-IDs for KYC and AML authentications.

Key Takeaways

Shahid Hanif’s innovative idea and revolutionary approach turned out to be a successful game-changer in the IDV sector. His firm motivation and strong vision kept him on the track. He was never disappointed with failures, instead used them as a learning tool, focused on providing quality services to the global clientele. Today, he’s the CTO of one of the leading identity verification service providers, Shufti Pro, which continues to grow through his expertise and team leadership skills.


Your email address will not be published. Required fields are marked *