iDenfy, Sonect partner for digital onboarding solutions

Friday 12 June 2020 10:34 CET | News

Online identity verification solution that helps businesses mitigate fraud iDenfy has revealed a partnership with Sonect

Sonect is a Switzerland-based financial technology company that converts every shop into a ‘virtual ATM’, according to Omega Underground. It reduces the cost of cash distribution for banks and eases up in-store cash management for merchants via a location-based on-demand service. In addition, Sonect turns every cash register into an ATM using its POS system or even just a smartphone. It democratises the process of cash distribution to reduce the ‘cost of cash’. Sonect is a location-based matchmaking platform connecting shops that have cash with people who need cash. 

Via the iDenfy identity verification service, Sonect operators can establish their remote users’ genuine identity by verifying identity documents in real-time. The document verification would allow new users to check their identity using their smartphone to scan documents including passports, ID card, and residence permits.

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Keywords: iDenfy, digital onboarding, Sonect, identity verification, fraud mitigation, partnership, Switzerland, financial technology, ATM, banks, POS, cash, merchants, identity documents, passports, ID card, residence permits
Categories: Fraud & Financial Crime
Countries: Switzerland
This article is part of category

Fraud & Financial Crime