Monneo, a virtual IBAN and eCommerce bank account provider, has announced its partnership with iDenfy, as it strengthens its verification and security capabilities.
It comes amidst Monneo experiencing an increasing number of delayed applications due to the manual and in-person processing time to verify identification.
This was exasperated following the COVID-19 pandemic and lockdowns, making finding a lawyer or notary difficult. This partnership will allow Monneo to have an assurance that they have an efficient, secure, and reliable service for a smooth and hassle-free client onboarding process.
Lili Metodieva, Managing Director at Monneo, said: “We are delighted to be able to announce our partnership with iDenfy. As a fintech company we have a strong focus on compliance, security and automation of processes and we aim to deliver a smooth and fast onboarding process to our clients.
“Adding iDenfy to our platform will provide our clients with a hassle-free and safe way for verification, which is important especially in the light of any future lockdowns and restrictions related to COVID.”
iDenfy provides a secure and reliable solution to instantly verify consumers identity online and will help Monneo verify their clients using passports and identity documentation.
iDenfy CEO, Domantas Ciulde, added on the deal: “Our KYC identity verification will be able to provide an extra protective layer to help detect and prevent fraud, resulting in a more secure environment for Monneo’s eCommerce clients. We understand the importance of this reliability for organizations to perform, and we pride ourselves in being able to provide that safe space for them.”