Lithuania-based fraud management service provider iDenfy has partnered with Germany-based development company AlaiseData to establish KYC compliance. As part of the joint venture, iDenfy will leverage its identity verification and fraud prevention tools to ensure that AlaiseData’s customers are KYC-compliant.

A digital business solutions provider, AlaiseData enables digital platforms to build and operate their business models. Its offering seeks to support companies to streamline their operations and foster meaningful customer connections. According to the official release, AlaiseData’s partnership with iDenfy and its decision to leverage its user-friendly ID verification solution comes to address client demands and enhance the customer experience for its clients.

What does iDenfy bring to the table? As part of the partnership, iDenfy will automate AlaiseData’s KYC process and, consequently, streamline the manual verification process, saving time and effort. Therefore, the digital business solutions provider’s customers will be able to submit their identity documents online, where AI algorithms and machine learning technologies will verify them. iDenfy’s software can process more than 3,000 document types from different countries and territories, including passports, driver's licenses, and ID cards.

iDenfy’s technology can instantly detect forgery, tampering, or other fraudulent activity. What is more, its offering features facial recognition technology that actively compares the live image of a user with their photo – as per their identity document. Due to the extensive use of AI, the adoption of liveness detection technology has become a prevalent industry standard.

By incorporating a liveness detection solution, the risk of compromised verification through static images or manipulated videos like deep fakes is significantly reduced. To ensure optimum integration, iDenfy offers tailored solutions that allow AlaiseData to incorporate KYC capabilities into its existing development workflow. Apart from this, the identity verification provider also extends customisation options designed to align with the development company’s branding and user experience requirements.

According to iDenfy, its verification product will help AlaiseData save costs and expediting customer identification for its growing user base. Moreover, the fraud management service provider reportedly guarantees that the company will remain compliant with the changing regulatory requirements. iDenfy is an identity verification company that seeks to aid businesses to adhere to compliance requests.

Its ID verification service, which is powered by a combination of AI and human oversight, can actively combat fraud. For more information about iDenfy, please check out their detailed profile in our dedicated, industry-specific Company Database. .