The Lithuanian-based identity verification business, iDenfy, strikes a new deal with Sevio, an ad tech development company, with the goal to onboard customers quickly and securely.
The benefits of technology come along with some struggles to adapt online and keep the data safe. Scammers find innovative ways to proceed with more complex cybercrimes. Due to the wide variety of payment methods, the industry of blockchain is on the rise. Its popularity came along with a more dangerous side, as fraudsters now have a wider space for their illegal activity. According to the latest report by Chainalysis, more than $7.7 billion was stolen in cryptocurrency scams worldwide during 2021, making it an 81% rise compared to the year before.
Fraud prevention and safe services are a priority for Sevio – an advertising technology business that focuses on developing projects to help advertisers and publishers promote their projects. With the ability to personalize ads and create budgets, the company’s goal is to provide a smooth and safe experience for its clients.
With such a wide audience comes responsibility. This is where iDenfy jumps in. It’s an identity verification and compliance platform with a list of fraud prevention tools, minimizing security risks online. The company’s AI-powered detection technology supports documents from more than 200 countries. The business benefits from forming partnerships, as they continue to implement their user-friendly services and help battle fraud. With a success rate of 98.4%, iDenfy’s facial recognition software ensures a safe customer onboarding experience. By partnering up with iDenfy, the advertising platform reduced the number of fake identities during customer onboarding. The process became quicker and more user-friendly, fulfilling the company’s needs and its customers’ expectations. With the new identity verification, Sevio is compliant to Know Your Customer (KYC) and Anti-money Laundering (AML) regulations. This way, the business doesn’t need to worry about compliance fines or data breaches.
“Every organization wants to conduct its operations in the safest way possible. Without cybersecurity, this would be extremely difficult, especially when working in an online field. The collaboration with iDenfy improved our security levels through identity verification. This helped us work on one of our main focuses as a business – the safety of our customers.” – said Tiberiu Stîngaciu, CEO of Sevio.