iDenfy provides an AI-powered identity verification platform that utilizes biometric recognition and manual audits to ensure compliance with KYC, KYB, and AML regulations. The service minimizes onboarding costs by charging only for successful verifications, helping businesses reduce fraud and improve customer quality.
Funding
$360K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face challenges in complying with Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML) regulations, leading to increased operational costs and potential legal risks. Traditional identity verification processes can be expensive due to manual reviews and high rejection rates from poor quality submissions. This can result in a frustrating onboarding experience for legitimate customers and increased exposure to fraudulent activities.
Solution
iDenfy offers a comprehensive identity verification platform that streamlines compliance and reduces fraud through a multi-layered approach. The platform leverages AI-powered biometric recognition, machine learning, and manual audits to ensure accurate and reliable identity verification. By charging only for successful verifications, iDenfy helps businesses minimize onboarding costs and improve customer acquisition. The platform supports a wide range of identity documents across numerous countries and integrates seamlessly into existing systems via APIs and plugins. iDenfy's HUB allows customers to connect additional fraud prevention services to the core ID verification process.
Target Audience
iDenfy primarily serves businesses in regulated industries such as fintech, cryptocurrency, online gambling, e-commerce, and transportation that require robust identity verification and fraud prevention solutions to meet compliance requirements and reduce operational costs.
Features
- AI-powered biometric recognition for facial matching and liveness detection
- Support for 3000+ ID documents from over 200 countries and territories
- Real-time data extraction from identity documents in as little as 0.02 seconds
- 24/7 human supervision by in-house experts to improve verification accuracy
- Integration with global watchlists, sanctions lists, and PEPs for AML screening
- KYB business registries providing access to company information from 120+ countries
- Proxy detection to filter customer IPs and improve transparency
- Utility bill verification to extract and compare information in non-latin languages
- Native integrations with WordPress, WooCommerce, Shopify, Magento, and Zapier
- Mobile SDKs for iOS and Android, enabling identity verification within mobile applications