Real-time identity verification service iDenfy and international payment platform Verifo announced that they are partnering to secure financial transactions.

Verifo said that not only it facilitates cross-border wire transfers, payment collections, and currency exchange services, they also offer customisable all-inclusive white-label solutions for regulated businesses and startups.

Verifo’s partnership with iDenfy will allow for greater cybersecurity precautions.

The new partnership will reportedly make the daily processes of Verifo easier and more streamlined. Automated identity checks will take down some of the administrative load of the team and allow them to focus on more important tasks.

“iDenfy specializes in real-time ID verification. In today’s world with ID fraud continuing to rise, this service is critical. ID theft is particularly troublesome in financial markets.

 

“We pride ourselves on delivering access to online services that both detects and prevents fraudulent attempts while enabling the business to scale and meet regulations,”

said Domantas Ciulde, Co-founder of iDenfy.

“We operate in a market where reputation and a great track record are of critical importance. A single event of fraud could damage our image in the eyes of clients and regulators. We cannot leave it at the chance.

 

It is important for us to have partners who are experts in the field of identity-checking and will provide us with an additional layer of security,”

said Mantas Staliunas, CEO of Verifo.

Featured image credit: Edited from Freepik