Lithuanian identity verification expert iDenfy has announced a new partnership that will bring its full-stack identity verification technology to automated lending platform Credex.
Credex, a licensed automated lending platform with more than 100,000 customers throughout the world, entered into the partnership with the aim of ensuring greater protection against online fraud, allowing it to increase its lending volume.
“Fraud prevention is essential in this digital age, and for businesses that have high transaction volumes, it can be challenging,” said Credex General Director Traian Baicu. “We’re proud to collaborate with iDenfy, a responsible business, helping us overcome such cybersecurity threats and providing our clients with a pleasant identity verification experience.”
The past several years have seen a dramatic increase in cybercrime, owing in part to the ongoing COVID-19 pandemic and the sharp rise in online traffic that has accompanied it. This increase in fraud and cyberattacks has placed an emphasis on the importance of remote authentication solutions like that of iDenfy, which allow businesses to safely verify their customers remotely, while offering end-users added security against fraudsters who may be targeting them.
iDenfy’s remote ID verification technology helps protect individuals and business from fraud through its full-stack identity verification solution, powered by AI and biometrics, and utilizing selfie authentication and 3D liveness detection.
“Identity verification allows businesses to onboard their customers with confidence,” said iDenfy CEO Domantas Ciulde. “Thanks to technology and artificial intelligence, we can detect fraud or money laundering in real-time, avoiding grim consequences. We’re delighted to work with Credex, a business that also prioritizes convenience and security.”
This marks the latest partnership that brings iDenfy’s biometric onboarding technology to another market following last month’s announcement about a collaboration to make it simpler for business to make transactions on the blockchain through a team-up with crypto platform HollaEx.