iDenfy is continuing to make inroads in the cryptocurrency space thanks to a new partnership with Impily. Impily is headquartered in Poland, and operates an exchange that allows users to buy, sell, and store various digital currencies.
The company is teaming with iDenfy to strengthen its onboarding procedures. To that end, Impily will be integrating iDenfy’s identity verification technology into its existing platform to make sure that new users are not wanted in any international law enforcement databases, facing sanctions, or otherwise associated with fraudulent activity.
iDenfy’s solution authenticates users with a combination of face and document recognition. People are asked to record a selfie video and capture a photo ID, and iDenfy will make sure that the document is authentic before comparing it to the video to make sure the two faces match. The solution will allow Impily to comply with a range of international financial regulations.
“iDenfy has met all our requirements, providing mandatory video verification, biometric verification, as well as the possibility of online check of pep lists and sanction lists,” said Impily’s Security Division in a statement. “The process itself is extremely easy and clear for our users and does not cause problems or slow down the customer registration process.”
“Every venture into a new sector will add to the experience of our developers,” added iDenfy CEO Domantas Ciulde. “As we implement each new partnership and gain knowledge, we will be better positioned to maintain the steady rate of innovations that have made us the choice of partners where solid identification verification is essential to their business and clients.”
iDenfy previously provided similar services for the Emirex tokenization and cryptocurrency exchange in Dubai. Before that, the company partnered with the Polish FinTech specialist Authologic to develop a new identity verification API. KogoPAY and PanPay are some of iDenfy’s other recent customers in the financial sector.
May 14, 2021 – by Eric Weiss