Monneo announces new partnership with iDenfy

Monday 23 August 2021 12:19 CET | News

Monneo, a virtual IBAN and ecommerce bank account provider, has announced its partnership with iDenfy, a global identity verification service.

This partnership has been a crucial step for Monneo to ensure they provide ecommerce merchants with a secure service. Following the recent pandemic and Brexit, fintechs have been struggling to process applicants efficiently, which is why an identity verification service is imperative. Compliance and security are crucial in the fintech industry – and with fraud on the rise, it is essential for merchants to feel safe when transferring their funds. 

iDenfy provides a solution that instantly verifies consumers' identity online, and it will help Monneo verify their clients using passports and identity documentation. The result is a streamlined onboarding process for an IBAN. 

Monneo was experiencing an increasing number of delayed applications due to the manual and in-person processing time to verify identification. This was exasperated following the COVID-19 pandemic and lockdowns. This partnership will allow Monneo to have an assurance that they have a reliable service for a hassle-free client onboarding process. 

Monneo is a virtual IBAN provider, working with a network of European and International banks and providing ecommerce merchants with multiple bank accounts at multiple banks across its network. Monneo allows merchants to monitor and control access to their reporting with one log-in, even when accounts are provided by multiple banks.

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Keywords: partnership, identity verification, ecommerce, merchants, Virtual IBAN
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime