Kaunas, Lithuania, Dec 27, 2024/PRNewswire/ — iDenfy, a Lithuania-based supplier of ID verification and fraud prevention options, has partnered with AREA42, a number one TradeTech innovation ecosystem. This alliance goals to strengthen the safety and effectivity of the consumer onboarding course of for AREA42’s platform, making certain a seamless and safe expertise for companies throughout international markets.
The rising menace of identification fraud, significantly within the monetary sector, has prompted companies to undertake superior verification methods. In 2023, the European Fee reported that monetary irregularities value €1.2 billion, underlining the necessity for sturdy safety measures. With fraud prevention as a key concern, iDenfy’s options supply companies a dependable solution to mitigate dangers and adjust to regulatory requirements.
AREA42 makes a speciality of TradeTech, a division of FinTech targeted on enhancing B2B commerce. The corporate develops customer-centric options that streamline commerce processes and improve monetary safety for European companies. These improvements embrace provider buy order financing and “Purchase Now, Pay Later” choices for marketplaces and e-commerce.
iDenfy’s biometric identification verification system, which incorporates superior 3D liveness detection, will now be included into AREA42’s platform. This technique goals to detect and stop fraudulent actions akin to identification theft, together with rising threats from generative AI and deepfakes. With this integration, AREA42 can present real-time approvals and guarantee its platform stays compliant with business requirements.
In accordance with iDenfy’s CEO, the partnership will improve safety whereas additionally enhancing the consumer expertise. By implementing this new answer, AREA42 will be capable of keep forward of rising fraud tendencies and velocity up onboarding processes, that are important for TradeTech options.
The Head of AREA42 highlighted the significance of balancing safety with usability. This cooperation will permit AREA42 to keep up a user-friendly platform whereas making certain the best fraud prevention requirements. The purpose is to set a brand new benchmark for the business by way of accessibility and safety.
The partnership additionally integrates iDenfy’s Know Your Buyer (KYC) system, which helps verification of over 3,000 varieties of identification paperwork from greater than 200 international locations. This supplies AREA42 with the worldwide attain essential to serve a various worldwide shopper base.
iDenfy’s answer additionally provides detailed knowledge logs, which facilitate recordkeeping and auditing, important for companies managing compliance. That is significantly related in industries the place regulatory scrutiny is excessive, and transparency is essential.
With this collaboration, AREA42 goals to additional improve its suite of B2B commerce options, together with GrowKap, a platform designed to supply rising firms with the instruments they want to achieve an more and more digital world. iDenfy’s options will help AREA42 in providing a safe, user-friendly setting whereas addressing commerce challenges in a globalized market.
iDenfy’s management within the identification verification house has been acknowledged by a number of business awards in 2024, together with being named one of the best FinTech startup in 2020. Its options have been praised for his or her ease of implementation and scalability, making it a key participant within the fraud prevention business.
For AREA42, this partnership is an important step towards revolutionizing the commerce business, offering companies with the safety and effectivity they should thrive in a digital financial system. The collaboration highlights the ability of superior identification verification in reworking industries and making certain belief within the international commerce setting.
About iDenfy
iDenfy is a platform that gives identification verification companies and fraud prevention instruments, making certain Anti-Cash Laundering (AML), Know Your Buyer (KYC), and Know Your Enterprise (KYB) compliance for companies of all sizes. The quickly rising firm was named one of the best FinTech startup in 2020 and was featured in G2’s Winter 2024 report as one of many main identification verification options out there, additionally incomes recognition as one of the best AML software program supplier. With its revolutionary, user-centric options, iDenfy continues to steer the business in offering scalable, efficient, and customer-friendly instruments for companies worldwide.
For extra data and enterprise inquiries, please go to: www.idenfy.com | E-mail: [email protected]
