Paymento Financial SA is partnering with Lithuania’s iDenfy to offer face-based onboarding technology to its customers. iDenfy’s solution utilizes uses face and document recognition technology to match a selfie to the image on a photo ID, which in turn allows a company to confirm the identity of a customer when they open a new account.
Paymento, meanwhile, is based in Poland, and provides FinTech and IT services for the financial sector. The company’s technology can be integrated into an existing system to enable secure online payments, and the partnership with iDenfy will allow Paymento to list biometric onboarding as one of the services that it offers to its own customers.
According to the two parties, iDenfy’s technology will streamline the onboarding experience for end users, and support a faster and more convenient identity verification process. In doing so, it will allow customers to make payments more quickly, while still guarding against phishing attacks and other forms of identity fraud.
“We strive to provide banks and financial institutions with a product to help them enter the payment business,” said Paymento CEO Andrzej Poniński. “This requires a smooth and automated verification process. Thanks to this innovative software, we will be able to enhance our customer experience and streamline the process of onboarding the customer.”
“Their FinTech solutions are designed for the modern world of e-commerce, which makes identity verification a crucial aspect in keeping fraudulent activity to a minimum,” added iDenfy CEO Domantas Ciulde. “Our software will help them to check in real-time, improving both security and overall customer experience.”
iDenfy has provided biometric onboarding services for several financial institutions in the past few months. KogoPAY and Clearshift both signed on with the company earlier in 2021, and join a new client roster that also includes the Emirex and Impily cryptocurrency exchanges.
(Originally posted on FindBiometrics)