Kaunas, Lithuania (April 00, 2024) — iDenfy, a Lithuania-based RegTech company offering full-stack identity verification and anti-fraud solutions, announced joining forces with Appdb, an Estonia-based leading independent app distribution platform for iOS devices. Appdb is an alternative to Apple’s App Store. This partnership will ensure a fastened onboarding process for new Appdb developers, driven by a fully automated ID verification system.
The RegTech startup will help Appdb to seamlessly onboard application developers and its users while meeting EU regulations and protecting against data breach
Appdb empowers users to discover a world of apps beyond Apple’s restrictions. It is created as an independent app Marketplace that does not use Apple’s ecosystem, offering extra applications competing with Apple iOS. The platform is mostly known for users who want to download applications that are not accessible on the current Apple’s marketplace, such as emulators and modifications for popular apps. With the support of the European Union Digital Market Act, Appdb operates independently while upholding the highest standards of privacy, security, and safety for its users.
SaaS providers need to ensure compliance with data privacy laws and regulations. Violating these laws, such as the GDPR in the EU, can result in serious fines and damage to a company’s reputation. This includes ensuring that personally identifiable information is protected and that individuals have control over how their data is used. Consequently, Appdb treats users’ privacy, security and safety at the highest level. The platform’s systems, APIs and services were developed with this in mind, allowing the company to serve millions of users for more than a decade with zero incidents with user’s data.
From a cybersecurity perspective, the risks associated with applications downloaded by users can include data breaches of sensitive information, such as user credentials, personal data stolen by unauthorized parties, or malware infections through malicious applications downloaded by users, leading to various consequences such as data loss, financial theft, or unauthorized access. Appdb’s mission is that as every developer can publish apps on Appdb, the company wants to establish a chain of trust between the end user in the store and the developer to increase and retain great user experience.
In need of identity verification and regulatory compliance provider, Appdb chose to partner with iDenfy. To focus on the user and the developer relationships, the company needed to outsource Know Your Customer (KYC) procedures to a reliable solution provider to significantly reduce the number of employees for the extra activities that are not its main business operations.
In addition to requiring identity verification for compliance, Appdb also looked for an efficient way to verify identities as a crucial aspect of their fraud prevention measures. iDenfy’s algorithms are able to spot fraudulent and altered documents, as well as any attempts to pass the liveness checks using masks, deepfake technology, and other renderings. Currently, the alternative app store entrusts iDenfy’s service and claimed technology effectivity which offers 24/7 screening verifications and customer support, ID verifications are checked within 3 minutes by iDenfy experts, who flag any issues for further review and an impressive identity verification success rate of up to 99.99%.
According to Appdb, iDenfy’s pricing model was also appealing as it charges only for successful verifications. Both companies, headquartered in European Union member states, prioritize legal compliance and data privacy, offering users peace of mind when accessing the platform. iDenfy’s main goal is to constantly improve, update, and reflect on the Appdb KYC onboarding success rate to ensure full regulatory compliance and trusted parties can join the application.
It’s worth mentioning that, in the 2023 Winter report, G2 announced iDenfy as being the leader in identity verification, ensuring that its top-notch technology and strict verification methods are seen as the best in the industry for keeping user information safe and following regulations effectively and reliably. iDenfy’s ID verification solution is backed with numerous ISO security certifications and is ensured by Lloyd’s Cyber Insurance for an extra layer of protection.
“We are thrilled to partner with iDenfy to further enhance the security and integrity of our platform. With iDenfy’s cutting-edge identity verification solutions, we can ensure a seamless and trustworthy experience for developers and users alike,” said Aleksei Borodin, CEO at Appdb.
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“At iDenfy, we’re committed to providing reliable identity verification solutions that meet the needs of our partners. Partnering with Appdb allows us to extend our services to a wider audience, enabling secure registrations and fostering trust within the Appdb community,” commented Domantas Ciulde, CEO at iDenfy.
The partnership between Appdb and iDenfy underscores their shared commitment to user privacy, security, and freedom. By leveraging iDenfy’s KYC solutions, Appdb ensures trust between developers, the platform, and end-users.