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Home Technology

iDenfy launches a new Business Verification platform

USA Wire Staff<span class="bp-verified-badge"></span> by USA Wire Staff
August 3, 2022
in Technology
Reading Time: 3 mins read
iDenfy launches a new Business Verification platform
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Kaunas, Lithuania (June 28, 2022) – The Lithuanian identity verification and compliance company iDenfy, joined forces with Juni, the financial management platform made for e-commerce. iDenfy’s mix of built-in identity verification and Business Verification services will protect Juni from fraud. 

Reduced costs, personalization, greater convenience, or speed are all factors that make e-commerce and fintech players successful in today’s digital sphere. While the benefits paint a positive picture, there’s also a riskier part to online business. According to iDenfy, cybercrime takes a toll on the fintech and e-commerce markets, making fraudsters and their crimes an issue that’s hard to tackle. 

Juni follows a similar approach, and as an industry innovator, the fintech player constantly looks for new ways to bridge the gap between security and speed. For this reason, Juni decided to upgrade its fraud prevention package and implement iDenfy’s latest product, the Business Verification platform.

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The goal at Juni is to provide its clients with the best-in-class financial ecosystem while at the same time, ensuring complete transparency and safety. Businesses that use Juni’s services can track their entire business profile in one place. Juni claims to have created one dashboard where companies get a centralized overview of bank accounts, ad networks, and payment gateways. This helps them monitor their business activity and improve cash flow more efficiently.

Once started with remote ID verification, iDenfy now offers many fraud prevention tools that help businesses detect and prevent criminal activity as well as comply with ever-changing regulations. According to Juni, iDenfy presented a unique opportunity to combine identity verification with Know Your Business (KYB) services. iDenfy will provide its partners with the Business Verification platform that helps detect bogus companies. 

As per iDenfy, its Business Verification removes the struggle for Compliance officers who need to follow strict laws and check multiple data points manually. iDenfy’s platform assists Juni in automating its onboarding process in accordance with global and local regulations. iDenfy’s Business Verification platform can block certain IPs or activity codes from onboarding. It helps Juni detect and prevent fraudulent activity automatically by running Sanctions, PEPs, and Adverse Media verification checks.

According to Juni, iDenfy’s new services have already improved its ability to screen the identity of applicants more efficiently, which is one of the main factors that the fintech’s customers expect. Juni also claims to be working with iDenfy to develop the Business Verification platform further. The next stage will be to add more automation features to reduce the likelihood of human error quicker. 

“We are actively collaborating on building a very special platform. iDenfy is known as a solid identity verifier, but very few, if any, providers offer both a KYB tool and an ID verification tool that we could find. For that, we are very grateful.” – noted Patrick Ryan, FinCrime Director, Juni.

“Our team strives to create safe solutions that allow other businesses to focus on their primary goals without needing to do the administrative work. Our Business Verification and identity verification platform is a ready-made service that helps compliance officers to eliminate fraud risks faster. We’re glad that our partners at Juni share a similar vision and have the same values regarding security.” – explained Domantas Ciulde, iDenfy’s CEO. 

About iDenfy   

iDenfy, a platform of identity verification services and fraud prevention tools, ensures AML and KYC compliance for every company — from large-scale businesses to small organizations. The rapidly growing business was named the best “Fintech Startup” in 2020. The company also received recognition for winning a Baltic Assembly Prize for innovation in 2021. 

For more information and business inquiries, please visitIdentity Verification Service | ID Verification – iDenfy

About Juni

Founded in Gothenburg, Sweden, in 2020, Juni aims to be the financial companion for e-commerce. Listed as the fastest-growing fintech startup in Europe in 2021, Juni empowers e-commerce entrepreneurs to make better decisions, scale-up and unlock the full potential of e-commerce. With Juni, you can track your entire business in one place: a dedicated online space, tailor-made for e-commerce. For more information, go to juni.co.

Tags: FinanceIdenfyJunilaunchmanagementplatformverification
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