The end-to-end verification will help reduce friction while ensuring a safe onboarding experience for Investors Club

KAUNAS, LITHUANIA, April 29, 2023 /24-7PressRelease/ — iDenfy, an identity verification, compliance, and fraud prevention tech startup, announced its partnership with Investors Club, an exclusive platform designed to trade in viable online businesses. The four-step AI-powered ID verification solution from iDenfy will help build a seamless customer onboarding for the buyers and sellers of Investors Club.

The digitization of online marketplaces has expanded globally due to technological advancements and innovations. Due to this shift, according to iDenfy, ensuring the safety of online marketplaces and protecting customers from malicious actors should be a top priority for every online business. The fraud prevention startup suggests integrating automated identity verification solutions to achieve this goal.

iDenfy’s new partner, the Investors Club, supports this approach, stating that the business started to look for a verification provider due to the growing demand to reduce verification time and, simultaneously, the need to improve security through automation. Moreover, the platform aimed to enhance the user experience and reduce fraud risks since its internal verification checks slowed the onboarding process for the growing client base.

One of the critical differences that shows a security advantage for Investors Club is that it conducts thorough due diligence checks by verifying the identity of buyers and sellers, allowing the platform to have a high-quality pool of participants. Before the partnership with iDenfy, Investors Club carried the authentication internally through various means. Since the platform’s buyers and sellers are located in different countries, verifying identities became challenging, considering the various identity documents in each country and state.

To simplify the verification process and hand over the administrative work, Investors Club partnered with iDenfy. Currently, the new solution automatically recognizes, verifies, and extracts information from more than 300 identity documents across over 190 countries, helping Investors Club conduct efficient and accurate identity verification checks on a global scale.

iDenfy’s ID verification solution follows a four-step process that meets the latest KYC and AML regulations. Additionally, the company employs an in-house data review team to double-check the automated system’s results to ensure accuracy. Investors Club now provides a streamlined customer onboarding experience for its buyers and sellers, which leads to improved regulatory risk protection according to the digital platform.

iDenfy explains that its KYC solution will help Investors Club understand and manage potential risks during the customer onboarding process better while increasing trust and improving the platform’s overall security.

In the meantime, Investors Club reports that iDenfy’s verification solution has removed the need for internal manual documentation review, resulting in a smoother and safer onboarding process for its customers.

“Since adopting iDenfy’s verification system, we’ve seen a remarkable improvement in both the speed and quality of our identity verification process, resulting in enhanced user security. With iDenfy’s expertise, we can now concentrate on what we do best.” — said Daniel Buetler, Managing Partner at Investors Club.

“Our goal is to help Investors Club eliminate the hassle of identity verification and compliance regulations while maintaining a secure onboarding process. It’s a great feeling to know that we can provide our new partners a sense of security and peace of mind.” — added Domantas Ciulde, the CEO of iDenfy.

About iDenfy
iDenfy, a platform of identity verification services and fraud prevention tools, ensures AML, KYC, and KYB compliance for every company — from large-scale businesses to small organizations. The rapidly growing business was named the best Fintech Startup in 2020. Recently, iDenfy was featured in G2’s Winter and Spring 2023 report as the leading identity verification software.

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