iDenfy, a global identity verification and fraud prevention startup, has joined forces with LeakIX, a cybersecurity company that focuses on delivering a comprehensive understanding of an organization’s internet-facing assets. As part of the partnership, LeakIX has integrated iDenfy’s KYC solution into its subscription process to verify customer identities without friction.
The collaboration has already had a positive impact on LeakIX, with the company noting a significant reduction in manual workload for its internal team as a result of the integration. Before the partnership, LeakIX had faced challenges concerning counterfeit accounts and fraudulent payments, which heavily impacted its KYC team. LeakIX has also observed a near-zero rate of disputed payments since implementing iDenfy’s KYC solution.
iDenfy’s verification process involves four steps: selecting the document’s country and type, capturing a photo of the ID or passport, and taking a selfie. The company’s software creates a face map of the user which can be later used to blacklist clients or to find duplicates, while its facial recognition system detects deepfakes and other fraudulent attempts to pass the ID verification process.
“We’re confident in our ability to swiftly and accurately verify our customers, ensuring that no illegitimate or fraudulent accounts are onboarded onto the LeakIX platform,” said Danny Willems, CEO of LeakIX. “iDenfy’s identity verification service simplified the process of conducting identity checks by eliminating the manual workload for our KYC team.”
Domantas Ciulde, the CEO of iDenfy, added: “We’re always looking for ways to improve the customer’s experience. While it’s crucial to verify users quickly, it’s imperative to maintain the highest levels of accuracy and ensure that no fraudulent account is onboarded. Our team is pleased to align with LeakIX, esteemed emerging cybersecurity experts who share our commitment.”
As part of the partnership, LeakIX has developed an official open-source library for iDenfy, helping future partners with the integration process. This will enable organisations to simplify the integration process of iDenfy’s API, saving valuable setup time and eliminating the need for additional configuration.
iDenfy is a RegTech startup that provides AML, KYC, and KYB compliance solutions to businesses of all sizes. The company has been recognised as a leading identity verification software in G2’s Winter 2023 report, and won the “Enabler of the Year” category at the Lithuanian Fintech 2023 awards.
On Thursday 29 June, 2023, global identity verification and fraud prevention startup iDenfy announced its partnership with cybersecurity company LeakIX. The collaboration has seen LeakIX integrate iDenfy’s KYC solution into its subscription process, resulting in a notable reduction in manual workload for its internal team and near-zero rate of disputed payments. iDenfy’s software will also create a face map of the user which can be later used to blacklist clients or to find duplicates.
“We’re confident in our ability to swiftly and accurately verify our customers, ensuring that no illegitimate or fraudulent accounts are onboarded onto the LeakIX platform,” said LeakIX CEO Danny Willems.
iDenfy CEO Domantas Ciulde added: “We’re always looking for ways to improve the customer’s experience. While it’s crucial to verify users quickly, it’s imperative to maintain the highest levels of accuracy and ensure that no fraudulent account is onboarded. Our team is pleased to align with LeakIX, esteemed emerging cybersecurity experts who share our commitment.”
The partnership has also seen LeakIX develop an official open-source library for iDenfy, enabling organisations to simplify the integration process of its API. iDenfy has been recognised as a leading identity verification software in G2’s Winter 2023 report, and won the “Enabler of the Year” category at the Lithuanian Fintech 2023 awards.
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LeakIX Adopts iDenfy’s Comprehensive Identity Verification Solution first appeared on BusinessMole.
