Crypto

iDenfy Launches Advanced eIDV Solution to Strengthen Identity Verification Across High-Risk Industries

Lithuania-based RegTech firm, iDenfy, has launched a brand new digital identification verification resolution, or eIDV, tailor-made to simplify and safe the identification verification course of for varied high-risk industries. This revolutionary resolution is about to redefine how companies, significantly within the fintech, crypto, and iGaming sectors, strategy Know Your Buyer (KYC) procedures. The brand new eIDV course of integrates a multi-layered “2+2” verification, drawing on a number of databases to cross-reference consumer knowledge, serving to companies seamlessly onboard customers whereas minimizing fraud dangers.

Domantas Ciulde, CEO of iDenfy, emphasizes that the eIDV resolution prioritizes consumer expertise with out compromising on safety. The “2+2” verification, generally known as “Comfortable KYC,” employs knowledge from not less than two unbiased sources, reminiscent of social safety and credit score info, to confirm consumer identification effectively. This method aligns with regulatory requirements, significantly within the U.S., making it very best for compliance-focused industries.

Not like conventional KYC strategies, which might be time-consuming and cumbersome, iDenfy’s eIDV supplies prompt verification outcomes. Companies enter a consumer’s info, which is then matched in opposition to official databases to substantiate accuracy, enabling fast onboarding. The system’s flexibility permits corporations to tailor the verification stream, even incorporating doc and selfie verification for extra safety layers the place wanted.

This streamlined strategy isn’t only a profit for corporations—it’s a game-changer for customers. iDenfy’s resolution lets folks register with ease, particularly in industries that require quick account creation, like on-line gaming. When customers must make transactions, like withdrawals, the eIDV system can set off extra verification steps to make sure compliance and safety.

As on-line fraud continues to evolve, iDenfy’s eIDV is designed to forestall identification theft successfully. Pretend ID paperwork are actually created with the assistance of AI, making it difficult to tell apart between actual and counterfeit IDs. By cross-checking consumer knowledge with dependable sources, iDenfy’s eIDV ensures companies can belief the authenticity of their customers. This strategy mitigates threat whereas providing an uninterrupted consumer expertise.

Domantas Ciulde underscores the broader affect of the eIDV resolution, significantly for industries processing excessive transaction volumes: “With the rise of fraud and monetary crime, our eIDV system secures corporations in opposition to fraud and provides a seamless, hassle-free expertise for actual customers. It’s a win-win for each companies and their clients.”

As digital safety turns into a high precedence, iDenfy’s eIDV resolution supplies a strong reply, holding corporations a step forward within the struggle in opposition to fraud. That is greater than only a KYC instrument—it’s a step ahead for safer, smarter identification verification.

About iDenfy   

iDenfy, a platform of identification verification providers and fraud prevention instruments, ensures AML, KYC, and KYB compliance for each firm — from large-scale companies to small organizations. The quickly rising enterprise was named one of the best Fintech Startup in 2020. Lately, iDenfy was featured in G2’s Summer time 2024 report because the main identification verification software program. 

For extra info and enterprise inquiries, please go to www.idenfy.com

Show More

Related Articles

Leave a Reply