ID verification fraud prevention regulatory company iDenfy has announced its partnership with O2Factoring in order to optimise financial security for entrepreneurs. Following this announcement, the collaboration is set to focus on integrating advanced identity verification and Anti-Money Laundering (AML) screening services in order to streamline regulatory compliance and deliver a secure experience for O2Factoring customers.

In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More information on the iDenfy x O2Factoring partnership Throughout the collaboration with iDenfy and the access to its identity verification and AML screening solutions, O2Factoring will have the possibility to address several key challenges of users, such as GDPR compliance, identity verification, and AML checks that enable O2Factoring to provide fully digital identification processes together with the enhanced speed and professionalism of its services. At the same time, the integration of iDenfy’s products will ensure that O2Factoring can efficiently and securely onboard customers while conducting thorough background checks as well.

This process will also reduce manual workloads and minimise potential human errors in a quicker and more efficient manner. Furthermore, the features will make sure that customers are onboarded safely and without delays. The AML screening process is set to prevent fraud, identity theft, and other illegal activities by automatically cross-referencing international sanctions lists, adverse media, as well as other databases.

With the possibility to proceed with real-time checks against worldwide watchlists, O2Factoring is set to meet international regulation that allows a fully digital paperless identification process, therefore improving the overall customer experience and professionalism.  For more information about iDenfy, please check out their detailed profile in our dedicated, industry-specific Company Database. Source: Link .