Confirmo taps iDenfy's digital identity verification solution

According to CNBC, scammers set a record of USD 14 billion in cryptocurrency in 2021, and losses from blockchain-related crime rose 79% from 2020 and therefore many believe that every business is exposed to cybersecurity threats.

Confirmo looked for new fraud prevention solutions and chose iDenfy’s automated identity verification solution as an extra step in the battle against fraud. Confirmo operates a European cryptocurrency payment gateway and is known for its crypto exchange project Coinmate. The ecommerce blockchain payments platform ensures safe transactions by providing user-friendly options to make fast purchases in crypto.

The newly implemented solution will automatically scan personal documents, detect fraud patterns, and any inconsistencies. iDenfy guarantees results with AI and with an in-house team of experts. According to Confirmo, it already augmented customer onboarding, as iDenfy carries out the whole administration process and ensures its customers’ security. As one of the other benefits, Confirmo also explained that the verification process with iDenfy is now provided in different local languages.