iDenfy partners with NomadRem

Monday 9 October 2023 08:53 CET | News

Lithuania-based regtech iDenfy has partnered with NomadRem to enhance the latter’s customer onboarding process.

The collaboration allows NomadRem to integrate iDenfy’s ID verification and AML screening tools, aiming to ensure a fraud-free and compliant environment. Through this, the company can prioritise security, accuracy, and user experience regarding Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. 

Lithuania-based regtech iDenfy has partnered with NomadRem to enhance the latter’s customer onboarding process.


iDenfy – NomadRem partnership details

When seeking a compliance service provider, NomadRem required a completely automated solution that ensures a quick customer onboarding experience, as well as one that is capable of minimising manual tasks and errors. As a financial solutions supplier, the company is subject to regulations and licensing, therefore needing to also guarantee a secure process and adhere to rigorous regulatory standards. In addition, NomadRem’s onboarding system is required to provide its customers with the assurance that their personal data is secure.

The fintech platform, which offers money transfers, bill payments, and a variety of other financial services, now uses iDenfy’s identity verification and AML screening solutions to achieve the above-mentioned goals, as well as to scale its business faster. Moreover, iDenfy can support NomadRem in offering its customers instant money transfers worldwide, due to its wide acceptable ID document range. iDenfy also ensured a simple integration with NomadRem's core banking back-office system and white-label web services, with the current registration process only involving a minimum number of steps.

Furthermore, iDenfy’s KYC software, which performs real-time detection of malicious attempts to deceive the verification process, allowed NomadRem to develop customised workflows tailored to individual countries or customer segments. This includes AML screening, integrating checks against sanctions lists, Politically Exposed Persons (PEPs), and multiple watchlists from both global and local databases. 

iDenfy’s latest developments

Recently, iDenfy entered multiple partnerships, including one with Quoka, a Germany-based online marketplace, aiming to create a simplified identity verification experience. Through this alliance, Quoka leverages iDenfy’s biometric verification solution to protect against fraudsters while onboarding legitimate users. The company assisted the marketplace in developing an automated customer onboarding process, alongside a simplified testing and implementation procedure.

During the same period, iDenfy collaborated with ECNG Digital to reduce the latter’s drop-off rates and enhance the identity verification process. By integrating iDenfy’s identity verification software, ECNG Digital can apply custom-tailored verification processes to its individual users, completed through multiple verification methods, including checking government-issued IDs, taking selfies with live detection, and cross-referencing databases.

For more information about iDenfy, please check out their detailed profile in our dedicated, industry-specific Company Database.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: fraud management, fraud detection, fraud prevention, identity verification, KYC, AML, partnership
Categories: Fraud & Financial Crime
Companies: iDenfy, NomadRem
Countries: World
This article is part of category

Fraud & Financial Crime




Discover all the Company news on iDenfy and other articles related to iDenfy in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events