Backed and iDenfy partner for safe consumer onboarding

According to the agreement between the two companies, iDenfy will provide remote identity verification services to Backed to ensure a smooth, seamless, and frictionless onboarding process. iDenfy’s four-step identity verification will onboard Backed’s customers faster, allowing them to complete the process in a few minutes. The Lithuanian company uses biometric facial recognition and AI-driven ID document scanning algorithms to deliver accurate results.

Backed is a platform that allows its customers to speculate on the future of their favourite startups before the companies start raising funds. With the help of the new platform, clients can purchase coins and pay a gratuity fee for their favourite startup. Ultimately, Backed helps startups grow along with their customers’ investments.