KAUNAS, LITHUANIA – The real-time identity verification service iDenfy and international payment platform Verifo are now partnering to make financial transactions around the world even more secure.
“iDenfy specializes in real-time ID verification. In today’s world with ID fraud continuing to rise, this service is critical,” said Domantas Ciulde, the company’s co-owner. “ID theft is particularly troublesome in financial markets.”
Verifo not only facilitates cross-border wire transfers, payment collections, and currency exchange services. They also offer customizable all-inclusive white-label solutions for regulated businesses and startups.
While Verifo takes solid steps to avoid ID theft, the decision to partner with iDenfy takes these cybersecurity precautions to an even greater level.
Finding reports of ID theft and the devastation it creates is easy. News outlets regularly carry stories of people charged with this crime or victims suffering from it. If combating domestic ID fraud is hard, Domantas Ciulde said it is easy to see how defeating ID theft internationally is that much harder.
“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,” he said.
The new partnership will make the daily processes of Verifo easier and more streamlined. Chief executive officer of Verifo Mantas Staliunas said that automated identity checks will take down some of the administrative load of the team and allow them to focus on more important tasks.
“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.