iDenfy secures a new contract with VIAINVEST to provide identity verification

September 17, 2022 (PRLEAP.COM) Business News
iDenfy, global identity verification and fraud prevention startup, partnered with VIAINVEST, licensed P2P lending and investment platform offering a wide range of asset-backed investment options. iDenfy will ensure compliance and security for VIAINVEST through AI-powered identity verification.

Complying with Data Protection and Privacy Regulations is one of the top priorities for VIAINVEST, making identity verification a vital part of a safe and pleasant customer experience on the lending platform. According to VIAINVEST, the company searched for reliable and transparent ID verification partners to prevent financial crimes and minimize onboarding costs. The company claims that technology and AI-powered solutions, such as iDenfy's verification service, help improve security and, at the same time, manage customers' data easier.

With security priorities, VIAINVEST aims to empower customers to invest in global lending markets using its reliable and user-friendly platform. The business offers asset-backed securities, including thousands of loans as a single financial instrument. VIAINVEST claims that by investing in asset-backed securities, its customers are putting funds into a regulated investment product backed by investor protection, segregated asset holdings, and clear investment offers.

The investment experts informed that iDenfy stood out from other ID verification providers because of the service quality. Another factor that played a massive role in making the decision was trust. According to VIAINVEST, iDenfy offered an all-in-one solution for ID verification and Anti-Money Laundering (AML) Screening. VIAINVEST can now accomplish all of its project tasks with just one partner, stressing that less time will be spent on development.

As VIAINVEST explains further, its clients anticipate a quick onboarding and screening process. As a result, the company aims to maintain the highest quality for risk assessments and client identification. Currently, iDenfy will help VIAINVEST comply with the latest standards while offering customers a seamless onboarding and investing experience.

iDenfy is best known for its end-to-end identity verification solution. The full-stack authentication service is powered by artificial intelligence, which guarantees the accuracy of automatically generated verification results. To ensure its 98.4% success rate, iDenfy tested 5 million different faces and data points. iDenfy's algorithms scan different ID document types in seconds, lifting the responsibility for its partners to review each customer manually during the onboarding process.

According to the startup, identity verification is vital because it improves the chances of any company's success in terms of security, profit, and the all-in-all image. At the moment, iDenfy has more than 500 partners using the digital identity verification service, which, according to VIAINVEST, is a considerable factor that secures a trusted, long-term collaboration between both parties:

"Many organizations, including the Bank of Lithuania, use iDenfy, which is critical when evaluating the trustworthiness of a partner with whom we work. Certain risks come with an expanding client base like ours, and we're happy to have found a common language regarding security with iDenfy," - added Aleksandrs Puzdrans, the Platform Lead of VIAINVEST.

"We believe that a quick identity verification process enhances the onboarding experience. Our goal with this partnership is to safeguard VIAINVEST from fraud while providing the needed convenience for its customers." - said Domantas Ciulde, the CEO of iDenfy.

About iDenfy
iDenfy, a platform of identity verification services and fraud prevention tools, ensures AML and KYC compliance for every company - from large-scale businesses to small organizations. The rapidly growing business was named the best "Fintech Startup" in 2020. The company also received recognition for winning a Baltic Assembly Prize for innovation in 2021.
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