iDenfy, the global fraud prevention and identity verification business, teams up with Confirmo, the blockchain payment solution provider. iDenfy’s verification service will assess the risks by welcoming valid customers to Confirmo’s network.
During the past few years, the digital sphere was heavily influenced by bad actors. Hackers continue to exploit the pandemic in 2022. Remote and hybrid work structures created new opportunities for scammers to strike in the public and private sectors. The emerging segment of the blockchain niche isn’t an exception. According to CNBC, scammers set a record of $14 billion in cryptocurrency last year, and losses from blockchain-related crime rose 79% from 2020; therefore, many believe that every business is exposed to cybersecurity threats.
The rising numbers motivated Confirmo to look for new, innovative fraud prevention solutions. That’s when the company chose iDenfy’s automated identity verification solution as an extra step in the battle against fraud. Confirmo operates a European cryptocurrency payment gateway and is best known for its crypto exchange project Coinmate. The e-commerce blockchain payments platform ensures safe transactions by providing user-friendly options to make fast purchases in crypto.
The new challenges of cybersecurity push iDenfy to create advanced solutions and safeguard businesses from data breaches, identity theft, or money laundering activities.
“We’re delighted to work with iDenfy. Previously, we struggled with a longer identity verification process. I’m glad that due to this partnership, the service now is user-friendly and offers a higher proportion of successfully completed verifications.” stated Dan Houska, CEO of Confirmo.