Lithuanian identity verification expert iDenfy has announced a partnership with DSBC Financial Group that will see it provide its remote authentication services to help the financial services provider with onboarding, Know Your Customer (KYC) and Anti Money Laundering (AML) compliance, and to protect its customers from advanced phishing and fraud attacks.
iDenfy combines artificial intelligence and machine learning with facial recognition and liveness detection to allow for safe and secure remote identity verification.
Due to the COVID-19 pandemic and the lockdown measures that it has resulted in, the number of people going online for their day-to-day transactions has risen dramatically. Unsurprisingly, this has led to a sharp growth in hacking attempts and cybercrime in general, which has increased the need for reliable remote identity verification solutions.
“The days of the traditional banking and payment practices are getting over,” said DSBC Financial Group CEO Le Hung Anh. “Our clients can now experience a fast, convenient, and secure onboarding process with our new technology. The partnership between DSBC Financial Europe and iDenfy will create more values for our community and facilitate businesses to thrive remarkably.”
In addition to providing biometrics-based remote onboarding for DSBC, the iDenfy partnership will also help with KYC and AML compliance; something that is also of greater importance during a time when financial services providers are meeting fewer of their customers face-to-face.
“Our remote identity verification service is an optimum solution to mitigate identity-related frauds and improve overall productivity and time efficiency,” said iDenfy CEO Domantas Ciulde. “We are sure that with our advanced solutions will help DSBC Financial Group onboard only the legitimate customers to their platform.”
(Originally posted on FindBiometrics)