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Company Database - iDenfy

Provide an efficient and simple system to help detect fraudulent activity online.
iDenfy is an identity verification company that helps businesses comply with regulations and directives. Online ID verification service powered by artificial intelligence and human supervision care minimises fraud. iDenfy supports over 1300 different types of identity documents in 200 countries and territories.
CORE SOLUTION
Remote identity verification and fraud prevention solution
Fraud and financial crime hub - decisioning platform
Yes
Transaction fraud
Yes
Account fraud
Yes
ATM fraud
No
Financial crime data provider and intelligence
Yes
AML transaction monitoring
Yes
KYC/CDD
Yes
KYC remediation
Yes
Digital identity service provider
No
Identity verification 
Yes
Authentication

Yes

 

Technology
On-premises
No
Cloud-enabled, native cloud, hybrid
Yes
Native cloud
Yes
Hybrid
Yes

DATA INPUT: Identity verification capabilities  
Identity document scanning
Yes - proprietary capability 
Video scanning
Yes - proprietary capability 
Personally Identifiable Information (PII) validation
Yes - proprietary capability 
Small transaction verification
Yes - proprietary capability 
Email verification
Yes - proprietary capability 
Phone verification

Yes - third party

Social verification

Yes - proprietary capability 
Credit check
Yes - third party
Compliance check
Yes - proprietary capability 

DATA INPUT: Online authentication capabilities  
Behavioural biometrics
Yes - third party
Physical biometrics
Yes - proprietary capability 
Device fingerprinting
Yes - proprietary capability 
Geo-location
Yes - third party
Remote access detection
Yes - proprietary capability 
Mobile app push
Yes - proprietary capability 
3-D Secure 2.0
N/A
Hardware token
Yes - proprietary capability 
SMS One-time passwords
Yes - third party
Knowledge-Based Authentication
N/A

DATA INPUT 
Abuse list 
Yes - proprietary capability 
Financial crime data
Yes - proprietary capability 
Sanctions data (sanctions, enforcements, PEP, and adverse media)
Yes - proprietary capability 
Watchlist screening
Yes - proprietary capability 
Address verification
Yes - proprietary capability 
Credit Bureau
Yes - third party
Information Sharing
Yes - proprietary capability 

DATA INPUT: Intelligence - Data 

Stateless Data Ingestion and Augmentation

N/A

METHODOLOGY: Machine Learning
Rule-Based
Yes
Supervised ML
Yes
Unsupervised ML
Yes
Hybrid
Yes

METHODOLOGY: Decisioning
Manual review
iDenfy has an in-house manual reviewer team that double-checks every verification. It's an additional layer of security with manual liveness and fraud detection done in the background. This increases the success rate of verification and accuracy of data extracted from multiple documents. 
Case management
Yes
Decision orchestration

Yes

 

BUSINESS MODEL: Pricing and Services
Pricing model
Pay only per successfully onboarded customer
Managed service
Identity verification service, face recognition, document recognition and OCR, liveness detection, face re-authentication, human supervision, AML screening, negative news screening, anonymous IP (proxy) detection, phone verification, phone number risk scoring, email risk scoring, customer risk scoring, social profile risk scoring, transaction monitoring
Training & Support

Included

 

CLIENTS
Main clients/references
Bank of Lithuania, ExpoBank, EmBank, Wind, Zen, 4 Finance, Provema, Mpay, IPF Digital, Via SMS Group, Vivus, Vialet, BetSafe, Xcoins, Cashaa, and +250 customers
Case studies
N/A
Awards
iDenfy, in 2018 won the 'Startup of Lithuania' award: https://bit.ly/3tQecxK            
In 2019 became 'Startup of the Kaunas City': https://bit.ly/3d4QCH6   
And in 2020, won the 'Fintech Startup Of The Year Award': https://bit.ly/3lUvirv  
Future developments
Physical payment card verification