Lithuania-based iDenfy has upgraded its identity verification platform with a new KYC Questionnaire feature, allowing partners to configure custom questions for verification sessions. iDenfy’s questionnaire form allows companies to create a fully automated identity verification flow, which can now be upgraded by adding custom questions.

According to the tech startup, the new solution is designed to simplify the workflow for compliance officers while ensuring Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. Meeting regulatory demand with stricter verifications Due to high demand and a stricter regulatory landscape, iDenfy noticed new opportunities to branch out and help its current partners to maximise identity verification efficiency. The tech startup then decided to create a new tool that could improve and digitise the whole KYC screening process.

As a result, the new KYC Questionnaire has pre-built templates, helping users to edit and customise their versions of the questionnaire form. According to iDenfy, this is a unique, no-code feature in the identity verification market, which helps the tech startup gain a competitive edge. The KYC Questionnaire enables iDenfy’s platform users to filter out customers' verification results based on the created questionnaire questions that can be customised to provide any required data.

When creating the feature, iDenfy’s development team focused on simplicity, ensuring that the KYC Questionnaire would provide ease to the end user. Compared to traditional paper-like methods, iDenfy’s digital questionnaire’s design is simple, requiring less work and time to fill out the whole template. According to the company, using the new feature helps reduce manual labour and minimise human error.

Each step can be set up by adding desired questions and answer types. As claimed by the tech startup’s officials, its straightforward questionnaires guarantee a hassle-free journey for the customers. As for business owners and compliance officers, the newly built-in feature eliminates the need for lengthy emailing processes and enhances data security.

Enabling a fast KYC process with one digital tool iDenfy continues upgrading its API and web app solutions to help businesses turn to a completely digital identity verification process. The company claims that this approach helps save time on conducting complex due diligence checks and ensures that any business relationship is secured. Officials from iDenfy said that the custom KYC Questionnaire digitally collects and filters all information using the same identity verification platform or just one tool.

This enables their partners to create a swift, user-friendly customer onboarding process while minimising fraud risks and ensuring regulatory compliance. .