News partners with iDenfy

Tuesday 3 January 2023 10:57 CET | News

Lithuania-based company has partnered with iDenfy to onboard their customers more securely with a four-step ID verification process.

This partnership will add another layer of security to’s onboarding process , as the financial company prioritised fast and safe ID verification tools for keeping the experience secure.  This new feature will allow’s customers to access the needed financial services through a simple and secure verification flow. is now able to proceed with fully automated identity checks that will ensure their customers a safer experience when it comes to onboarding. 

The main goal of is to provide the convenience of utilising the identity verification tools without compromising the experience of the client base. The Al-powered four-step identity verification solution provided by iDenfy  keeps the process secure and ensures compliance with KYC/AML regulations as well.

Lithuania-based company has partnered with iDenfy to onboard their customers more securely with a four-step ID verification process.


The solution provided by iDenfy

At the moment, iDenfy provides their users with a software that automatically checks if the document given by someone is legitimate by extracting information and comparing the data with the onboarding selfie or picture. The customer’s three-dimensional face map is analysed by iDenfy’s biometrics and liveness detection tool, preventing fraudsters from verifying themselves using fake pictures, deepfakes or facemasks. Furthermore, iDenfy’s KYC experts manually check the results that come after the verification process, ensuring that there was no fraud. 

The ID verification, compliance, and fraud prevention startup iDenfy has explained as per press release that technology advancements in the fraud prevention sector push financial institutions to improve their security systems and methods with digital tools. According to the Federal Trade Commission  , the losses due to fraud has estimated around the sum of 6.1 billion USD in 2022, which was a rise of 77% compared to 2021. iDenfy further mentioned that financial institutions need to gain trust by implementing robust data security safeguards.

iDenfy’s strategy and partnerships

iDenfy is a Lithuania-based platform of identity verification services, fraud prevention tools, that also offers AML and KYC compliance for companies, from large-scale businesses to small organisations. 

The company had multiple partnerships during 2022, covering multiple geographies.

In December of 2022, iDenfy announced its partnership with staffing solution UpStack  to provide biometric identity verification services for application onboarding. After the increase of hiring people that will work remotely, the risk of having fraudulent candidates has been more prominent. Furthermore, companies’ new default remains a digital talent acquisition, as it offers multiple beneficial factors of the likes of geographic removal, as well as time and costs saving for travelling. 

In late November of 2022, iDenfy collaborated with fintech SupplierPlus to offer its anti-money laundering (AML) screening and monitoring solution. SupplierPlus has the ability to enable automate compliance and ensure a straightforward customer onboarding process through this partnership. SupplierPlus made the decision to extend its fraud prevention system’s scope by collaborating with iDenfy and chose to automate and simplify commence by having iDenfy carry out screening and monitoring for the prevention of illicit activities.

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: partnership, fraud detection, fraud prevention, digital identity, AML, KYC, online fraud
Categories: Fraud & Financial Crime
Companies: iDenfy,
Countries: Lithuania
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