iDenfy, a fraud prevention and identity verification business, teams up with Confirmo, the blockchain payment solution provider. iDenfy’s verification service will assess the risks by welcoming valid customers to Confirmo’s network.
During the past few years, the digital sphere was heavily influenced by bad actors. Hackers continue to exploit the pandemic in 2022. Remote and hybrid work structures created new opportunities for scammers to strike in the public and private sectors. The emerging segment of the blockchain niche isn’t an exception. According to CNBC, scammers set a record of $14 billion in cryptocurrency last year, and losses from blockchain-related crime rose 79% from 2020; therefore, many believe that every business is exposed to cybersecurity threats.
The rising numbers motivated Confirmo to look for new, innovative fraud prevention solutions. That’s when the company chose iDenfy’s automated identity verification solution as an extra step in the battle against fraud. Confirmo operates a European cryptocurrency payment gateway and is best known for its crypto exchange project Coinmate. The e-commerce blockchain payments platform ensures safe transactions by providing user-friendly options to make fast purchases in crypto. According to the enterprise, the mission is to educate ordinary internet users about blockchain, making secure trades accessible in local currency.
The new challenges of cybersecurity push iDenfy to create advanced solutions and safeguard businesses from data breaches, identity theft, or money laundering activities. The fraud prevention enterprise’s digital identity verification will assist its partners in terms of security – the newly implemented solution will automatically scan personal documents, detect fraud patterns and any inconsistencies. iDenfy is one of the few companies in the market that guarantees accurate results not only with AI-powered algorithms but also with a real, in-house team of experts.
The company also provides a customized and flexible experience. If preferred, companies can add extra fraud prevention solutions along with the identity verification service. According to Confirmo, it already improved customer onboarding, as iDenfy carries out the whole administration process and ensures its customers’ security. As one of the other benefits, Confirmo also explained that the verification process with iDenfy is now provided in different local languages, which makes the process easier for its customers, adding that “It was an advantage that no other service provided.”
“We’re delighted to work with iDenfy. Previously, we struggled with a longer identity verification process. I’m glad that due to this partnership, the service now is user-friendly and offers a higher proportion of successfully completed verifications.” stated Dan Houska, CEO of Confirmo.
“This partnership is another step towards a safer digital experience. We’re proud to partner with Confirmo, a great, responsible enterprise that prioritizes security and cares about the future of its customers.” – said Domantas Ciulde, the CEO of iDenfy.