Lithuania-based regtech solution provider iDenfy has announced a strategic collaboration with Frank to support the latter in mitigating fraudulent activities on its transportation platform. In a bid to assist Frank, which is a logistics and transportation platform for businesses and individual customers, in accepting clients via a simplified verification flow, the company partnered with iDenfy to automatically check and confirm Know Your Customer (KYC) data at the onboarding stage.

Considering the current landscape, where the logistics and transportation sector is ever-evolving, the need for security measures increased substantially, especially for marketplaces like Frank which are required to ensure the safety and reliability of user interactions. To achieve an optimised level of security, Frank implemented iDenfy’s identity verification and KYC services, with the two serving as a primary defence tool for mitigating fraud and augmenting user trust whilst complying with regulatory requirements. As Frank delivers both C2C and B2C services with integrated tools and transporters, the company prioritises safety, offering secure E-store deliveries thanks to identity verification and PIN solutions. Also, the community transport between individuals integrated identity control to ensure the protection of its customers.

Frank’s decision to partner with iDenfy for ID verification Recognising the current difficulties present in the market, Frank required a KYC vendor to advance its security framework via automation. The company chose iDenfy for its comprehensive ID verification suite, as well as for its ability to integrate with its ecosystem, providing increased levels of security, efficiency, and compliance. iDenfy’s ID verification solution was developed to recognise, verify, and extract information from over 3,000 identity documents across 200 countries and territories, including passports, ID cards, driving licences, and residence permits.

In addition to implementing this solution, Frank integrated iDenfy’s Phone Verification tool, which offers details on the customer who is completing the verification process. The feature spots bad actors by scanning ID addresses, route numbers, countries, and networks to provide a complete overview and validation of the customer’s phone number. Moreover, Frank is set to utilise iDenfy’s selfie check, which leverages biometric and face recognition algorithms to prevent the use of pictures, 3D masks, and other fakes and ensure that the authenticated faces are real. Representatives from iDenfy’s underlined their company’s commitment to delivering reliable identity verification solutions that meet the needs and demands of partners.

When it comes to the collaboration with Frank, iDenfy mentioned that the move enables the firm to extend its services to a wider audience, allowing secure interactions and fostering trust within the logistics and transportation community. .