IT News Online – iDenfy partners with advertising platform MGID to provide ID verification
Send2Press Newswire

KAUNAS, Lithuania, Nov. 10, 2022 (SEND2PRESS NEWSWIRE) — An identification verification and fraud prevention startup, iDenfy, introduced its new partnership with MGID, a worldwide promoting platform. Utilizing iDenfy’s full-stack ID verification providers will assist MGID increase new registrations whereas securing the onboarding course of.

iDenfy identity verification services
Picture Caption: iDenfy identification verification providers.

Forging paperwork and committing fraud are extra frequent due to the low prices and the technology-driven market. Fraudsters have gotten extra refined with their strategies, and companies and web customers report document monetary losses.

Card Not Current experiences that within the first half of 2022 alone, there have been 800,000 fraud instances reported in america. Contemplating this, iDenfy firm officers stress the significance of getting a extra strong fraud detection system for monetary establishments and all digital platform operators.

Based on MGID, Know Your Consumer (KYC) procedures, as soon as strictly utilized in monetary establishments, are requirements now adopted by industries exterior the monetary sector. To maintain up with safety necessities and to remain compliant with the ever-changing laws, MGID started to search for a brand new ID verification supplier and located iDenfy’s four-step ID verification answer. MGID claims that the brand new implementation protects present and potential purchasers by guaranteeing that the enterprise is clear and all clients are reputable people.

MGID is a worldwide promoting platform serving to manufacturers attain distinctive native audiences at scale. It makes use of privacy-first, AI-based expertise to serve high-quality, related adverts in brand-safe environments. The corporate affords a wide range of advert codecs, together with native, show, and video, to ship a constructive person expertise. MGID helps advertisers drive efficiency and consciousness whereas enabling publishers to retain and monetize their audiences. Model-safe, privacy-first promoting is MGID’s prime precedence. Alongside defending person knowledge and sustaining transparency, MGID has strict requirements to make sure that customers see solely related, high-quality creatives and trustworthy promoting.

iDenfy’s answer was created to answer the demanding fraud prevention market. The AI-powered verification software program detects cast paperwork and faux identities by rapidly extracting data and figuring out suspicious patterns. Presently, iDenfy’s platform assists MGID in automating buyer due diligence and defending the enterprise from potential dangers. Moreover, the newly carried out identity verification service powers a easy but safe and environment friendly onboarding course of for particular person advertisers accessing MGID’s platform.

Based on the ID verification startup, the next quantity of latest registration makes an attempt means the next likelihood of fraud, particularly if the group doesn’t have the fitting instruments at its disposal. To enhance accuracy and fully eradicate fraud, iDenfy’s in-house KYC consultants overview every verification manually, minimizing fraud dangers and stopping undesirable registrations throughout MGID’s buyer onboarding course of.

“iDenfy’s superior identification verification helps us keep compliant with present legal guidelines and laws whereas offering a smoother expertise for our clients. We imagine that an efficient fraud prevention system is important in right now’s digital age, particularly if you wish to make the absolute best selections for your enterprise,” mentioned Oleksandr Nazarenko, Head of the Fraud Safety Division at MGID.

“We’ve reached considered one of our objectives and created an environment friendly, user-friendly identification verification course of that helps authenticate paperwork in actual time. Now, we’re glad to have discovered extra long-term companions who put their belief in our safety instruments, permitting us to safeguard their enterprise from fraud,” added Domantas Ciulde, the CEO of iDenfy.

About iDenfy:

iDenfy, a platform of identification verification providers and fraud prevention instruments ensures AML and KYC compliance for each firm — from large-scale companies to small organizations. The quickly rising enterprise was named one of the best “Fintech Startup” in 2020. The corporate additionally acquired recognition for successful a Baltic Meeting Prize for innovation in 2021.

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Information Supply: IDenfy

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