iDenfy will solve the problem of reliable identity verification for A.ID’s clients
Money laundering, terrorist financing, identity theft. These are the issues plaguing the world as we know it today. Technological advancements allow us to develop the tools necessary to fight fraud more effectively. However, it also enables criminals to become more devious in their methods to cheat the system. Luckily, there are companies looking to improve regulatory compliance while increasing security.
Regulating the industries susceptible to fraud was an inevitable outcome. And thus, we saw the birth of Know Your Customer, Know Your Business, Anti-Money Laundering, Counter-Terrorist Financing, and other initiatives. All of which aim to solve, or at the very least, mitigate the actions of fraudulent actors. Even then, fulfilling the minimum requirements is often not enough for businesses to protect against fraud. It poses a problem for a lot of companies, especially young ones.
A.ID was founded to create trust between customers and financial services. It offers its clients compliance as a service. The company recognized the importance of reliable identity verification. After all, it’s a crucial part of KYC and KYB, and the service would be insufficient without one.
It was essential for A.ID that their customers had access to an ID verification provider with a flawless reputation. It led the company to reach out to iDenfy, which has operated in the industry of identity verification since 2017. iDenfy’s mission of making ID verification and fraud prevention tools easily accessible resonates well with A.ID’s goals. Soon enough, the partnership followed. The company can now offer its clients features such as liveness detection, a wide range of supported ID documents, and a comfortable user interface.
“The main reason we chose iDenfy as IDV provider for A.ID is their attention to the customer’s needs. Before choosing iDenfy, we have tested many providers, but only a few responded to our feedback and were willing to improve their solutions. Prompt response from iDenfy every step in the customer journey helped us make the decision to choose them,” said Justinas Kaminskas, CEO of A.ID Europe, UAB.
“I can see a lot of overlap between iDenfy’s and A.ID’s values and missions. It’s a great pleasure to become partners with them. Together we can help companies fight fraud and comply with regulations much easier – which is a task becoming more vital by the day,” said Domantas Ciulde, CEO of iDenfy.
These two companies working together help companies and their clients feel safer online. Additionally, they aim to keep up with regulatory compliance changes to stay ahead of the competition.