This collaboration will integrate Veriff’s identity verification technology into SonoSuite’s platform, aiming to reduce the risk of identity fraud and enhance the security of music assets for SonoSuite’s label and distributor clients.
The music industry has been experiencing a 20% increase in fraudulent activities compared to the previous year, with financially driven fraud accounting for 80% of these incidents. This rise in fraud has led to significant revenue losses. By integrating Veriff’s technology, SonoSuite aims to help its customers prevent fraudulent content distribution and other illicit activities within the independent music sector.
The rise of sophisticated AI-powered fraud techniques has posed challenges to the credibility and security of the customer experience in the music industry. Veriff’s technology is designed to streamline the identity verification process and block fraudsters before they can cause harm.
SonoSuite, based in Barcelona, Spain, provides catalog distribution and royalty collection technology to various music businesses, connecting them with leading digital music services globally. The company has a team of over 50 people across Europe, the United States, and Latin America.
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