DSBC unites with iDenfy to bolster verification process

International financial institution DSBC Financial Group, an international financial institution, and iDenfy, a specialist Lithuania-based identity verification solution provider, have united to enhance security for DSBC Financial Group’s platform from different types of phishing and identity-related frauds.

As part of the collaboration, the onboarding journey and frictionless for customers will be increased through a remote verification solution.

The DSBC Financial Group, Le Hung Anh, CEO commented: “The days of the traditional banking and payment practices are getting over.

“Our clients can now experience a fast, convenient, and secure onboarding process with our new technology. The partnership between DSBC Financial Europe and iDenfy will create more values for our community and facilitate businesses to thrive remarkably.”

iDenfy seeks to help firms verify their customers and comply with Know Your Customer (KYC) and Anti Money Laundering (AML) directives. In partnership with iDenfy, DSBC Financial Group will complete KYC much faster and with less hassle. Moreover, there will be fewer mistakes, as human involvement will be decreased.

The firm specialises in automated identity verification process that uses advanced technologies like Artificial Intelligence, Machine Learning, OCR, etc. It combines ID verification, liveness detection, and face recognition so that businesses can get all the solutions under the same roof.

DSBC Financial Group is a global financial payment solution that offers services like current account, merchant account, foreign exchange, payment cards, and cash management. The company serves customers from different geographical regions. However, they can’t meet each customer face-to-face to authenticate their identities manually. As a result, they looked for a reliable identity verification solution that now helps them verify all customers remotely.

Domantas Ciulde, the chief executive officer of iDenfy added on the partnership: “Our remote identity verification service is an optimum solution to mitigate identity-related frauds and improve overall productivity and time efficiency. 

“We are sure that with our advanced solutions will help DSBC Financial Group onboard only the legitimate customers to their platform.”