Verifo selects iDenfy to speed customer onboarding

Verifo

Kaunas, Lithuania (February 25, 2021) – Verifo today announced that it is expanding its digital personal identification protocols by partnering with iDenfy. Verifo offers international money transfer services in 30 major currencies for businesses around the world. CEO Domantas Ciulde of iDenfy said, “We pride ourselves on delivering access to online services that both detects and prevents fraudulent attempts while enabling the business to scale and meet regulations.”

iDenfy, a Lithuanian company, provides identity verification services for online businesses with proprietary AI facial recognition technology coupled with digital interfaces. iDenfy utilizes triplicate facial recognition systems, access to document verification databases in hundreds of countries and 24/7 human supervision. 

Mantas Staliunas discussing the iDenfy partnership on behalf of Verifo made this statement, “We operate in a market where reputation and a great track record are of critical importance. A single event of fraud could damage our image in the eyes of clients and regulators. We cannot leave it at the chance. It is important for us to have partners who are experts in the field of identity-checking and will provide us with an additional layer of security.”

By partnering with iDenfy, Verifo can now provide full digital services with faster, automated processes saving time and resources for the company as well as customers and clients. The partnership with iDenfy will also allow Verifo to increase the accessibility of its services. Businesses and people throughout most countries in the world can open an account and verify their identity using a smartphone or a laptop with a camera.

Identity verification is essential to Verifo in providing secure international financial services.  Partnership with iDenfy enables them to present more versatile, more secure, and faster services than ever before.

Verifo was founded on the idea of offering affordable, accessible, and safe financial services for international businesses. The founders exploited a niche ignored by traditional financial institutions, who were slow, bureaucratic, unwilling, and incapable of serving new internet-based businesses. Combining a background in finances and tech, Verifo offers an alternative to traditional financial service providers.

Verified customers from all over the world can open dedicated IBAN accounts in their name, store funds, collect and make international money transfers securely, fast, and at reasonable prices. The Verifo integration of the iDenfy systems takes them to the next level of speed and accuracy in identity protection.

About iDenfy

iDenfy‘s goal is to turn a customer’s device into an ID scanning and face recognition system that makes it fast and easy to capture and verify their ID and other credentials to meet KYC and AML requirements. Real-time ID scanning and face verification are applied on websites and mobile applications, helping reduce risk and minimize fraud for online transactions. This enables customers to perform daily operations from their home instead of going to service centres, where a company needs many cost-ineffective employees. Also, it avoids the costly and time-consuming process of manual documentation required for submission and verification.

Founded in 2016 at Kaunas University Technology Park by two childhood friends, iDenfy was awarded Startup of the Year in Lithuania in 2018. iDenfy provides real-time identity verification service for financial, sharing-economy, gaming industries.

For more information and business inquiries, please visit www.idenfy.com.

For media inquiries, please contact Viktorija Bielskaite, [email protected].

Sebastian

Sebastian was born and raised in the busy city of Abbottabad. As a journalist, Saad Mushtaq has contributed to many online publications including the PAK Today and the Huffing Post. In regards to academics, Saad Mushtaq earned a degree in business from the Abbottabad UST, Havelian. Saad Mushtaq follows the money and covers all aspects of emerging tech here at The Hear Up.Thanks