The partnership will help DSBC Financial Group’s users get verified remotely.
Kaunas, Lithuania (October 27, 2020) – DSBC Financial Group is an international financial institution that offers cash management, foreign exchange, merchant account, current account, payment cards, etc. Since people from all across the globe use the DSBC Financial Group platform, it’s not practical for the company to verify all its customers face-to-face. However, they don’t want to compromise on security. As a result, they invest heavily in verification practices. Partnership with iDenfy is also the result of their effort to make their platform fully secured.
Though DSBC Financial Group has offices in Lithuania, Hong Kong, Singapore, and Vietnam, they process their service online. In partnership with iDenfy, they will make their identity verification and KYC (Know Your Customer) process online. The partnership will minimize all the possible risks of online financial payment solutions.
As iDenfy’s AI-enabled identity verification solution verifies and authenticates customers remotely, the DSBC Financial Group won’t need to conduct a manual time-consuming KYC process.
iDenfy’s identity verification solution is a combination of liveness detection, ID verification, and face authentication. The company turns a smart device into a face authentication and ID scanning system that enables users to get verified remotely from their homes’ comfort. iDenfy’s identity verification solution can analyze and confirm almost 1300 types of ID documents from 200 countries, while their face recognition system can match 160 different face points. For facial recognition, iDenfy verifies a person from a digital image or video frame and then compares facial features with users’ database.
The DSBC Financial Group, Le Hung Anh, CEO says, “The days of the traditional banking and payment practices are getting over.” Our clients can now experience a fast, convenient, and secure onboarding process with our new technology. The partnership between DSBC Financial Europe and iDenfy will create more values for our community and facilitate businesses to thrive remarkably.“
iDenfy, on the other hand, seems exceptionally excited to form a partnership with DSBC Financial Group. “Our remote identity verification service is an optimum solution to mitigate identity-related frauds and improve overall productivity and time efficiency,” states Domantas Ciulde, the chief executive officer of iDenfy. He further says, “We are sure that with our advanced solutions will help DSBC Financial Group onboard only the legitimate customers to their platform.”
Both partners are looking forward to the partnership and are very optimistic. They believe that this partnership will have a positive impact on their reputation as well.
iDenfy‘s goal is to turn a customer’s device into an ID scanning and face recognition system that makes it fast and easy to capture and verify their ID and other credentials to meet KYC and AML requirements. Real-time ID scanning and face verification are applied on websites and mobile applications, helping reduce risk and minimize fraud for online transactions. This enables customers to perform daily operations from their home instead of going to service centers, where a company needs many cost-ineffective employees. Also, it avoids the costly and time-consuming process of manual documentation required for submission and verification.
It was founded in 2016 at Kaunas University Technology Park by two childhood friends. Company in 2018 at Lithuania was awarded as Startup of the Year. iDenfy provides real-time identity verification service for financial, sharing-economy, gambling industries.
For more information and business inquiries, please visit www.idenfy.com.
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