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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.