Confirmo Deal Solidifies iDenfy’s Crypto Position

iDenfy is now providing secure identity verification services for Confirmo’s blockchain payments platform. Confirmo is the European company behind the Coinmate crypto exchange, and is trying to make blockchain technologies more accessible (and more comprehensible) to everyday internet users.

The partnership with iDenfy will help protect the people who do make their way to the platform. In that regard, iDenfy noted that crypto fraud has skyrocketed in the past couple of years, with scammers walking away with $14 billion worth of stolen cryptocurrency in 2021. The overall losses from blockchain crimes are up 79 percent over the previous year.

iDenfy will mitigate that threat with secure onboarding and identity verification services. The company’s platform is able to confirm that an identity document is authentic, and uses facial recognition to make sure that it belongs to the person holding it. The company also backs up its automated matching solution with a team of human agents to resolve difficult cases.

With iDenfy, Confirmo will be able to evaluate the risk level for each new customer, which in turn will prevent data breaches, money laundering, and other financial crimes. iDenfy is able to offer services in multiple local languages, which was a key factor (in terms of consumer accessibility) for Confirmo when the company was choosing its identity provider.

“Previously, we struggled with a longer identity verification process,” explained Confirmo CEO Dan Houska. “Due to this partnership, the service now is user-friendly and offers a higher proportion of successfully completed verifications.”

“This partnership is another step towards a safer digital experience,” added iDenfy CEO Domantas Ciulde. “We’re proud to partner with Confirmo, a great, responsible enterprise that prioritizes security and cares about the future of its customers.”

Confirmo is not iDenfy’s first customer in the crypto space. The company previously enabled selfie onboarding for the Impily and Emirex cryptocurrency exchanges in the first half of 2021.

(Originally posted on Mobile ID World)