Identity verification company iDenfy has partnered with Turkey-based ByNoGame in order to increase security for the latter’s online marketplace clients. Following this announcement, iDenfy will focus on providing ByNoGame’s customers with a fast and safe manner in which they can sell and buy gaming products.

Its ID verification service will ensure that all the users of the ByNoGame platform will have the possibility to access a safe marketplace by eliminating fraud in real-time, through an efficient and fast onboarding procedure. ByNoGame is set to use iDenfy’s full stack of identity verification services, which was developed in order to extract and verify user data rapidly while ensuring document authenticity and protection against forgery or alteration. ByNoGame will be enabled to onboard clients from diverse countries around the world in a user-friendly and secure way.

In addition, the collaboration will also optimise its fraud detection strategy by detecting potential risks early in the user cycle. According to iDenfy, unauthorised access to a client’s account can lead to serious and dangerous consequences, such as financial losses or privacy breaches. Since ATO fraud can compromise the trust and safety of an entire marketplace, it is considered even more dangerous for users and businesses alike.

The primary defense mechanism against such attacks is represented by identity verification processes, with robust Know Your Customer (KYC) practices that can provide insights into customers, including risk factors like their location or presence on the global sanction lists. As fraudsters increasingly leverage deepfakes or synthetic IDs by combining false information with real documents in order to evade KYC checks more efficiently, the company emphasises the importance of selecting an ID verification provider with integrated biometric authentication and liveness detection technology in order to prevent them.  iDenfy’s recent partnerships and developments iDenfy had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world. In October 2023, the company announced its partnership with US-based automated bike parking infrastructure provider Oonee, in order to leverage its biometric verification software to facilitate the sign-up for the latter’s users via an ID verification procedure.

Following this collaboration, Oonee was expected to be enabled to perform quicker and more secure ID verification checks for its clients, which was set to allow a larger customer base to be onboarded in a shorter amount of time. According to the press release published at the time, Oonee was anticipated to improve the overall onboarding process and boost security measures as well, while also protecting its partners and clients against fraudulent attempts that were made by using fake or altered documents in order to gain access to the bike pods. At the same time, iDenfy’s service was aimed to give Oonee the possibility to monitor user verification data through a new dashboard, which included the capability to manually generate identification sessions.

Earlier in the same month, the company announced its collaboration with Viena Moneta, a currency exchange solutions provider, in order to automate the latter’s AML compliance. Throughout this strategic deal, iDenfy’s AML service was set to screen clients against various databases, including global watchlists and sanctions lists, aiming to optimise the manner in which Viena Moneta identified suspicious activities. Viena Moneta also incorporated iDenfy’s AML screening tool into its internal IT infrastructure, CurrExchanger, while its in-house client service specialists were also enabled to receive real-time notifications during currency exchange payments and confirm the completion of the AML checks.

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