Kaunas, Lithuania (November 18, 2021) – The team at iDenfy is proud to announce their new product, a fraud scoring tool that will be used by financial institutions to provide fraud detection and monitoring services.
iDenfy’s newest feature will monitor the complex financial transactions between financial institutions, merchants, and customers to assess the risk of each transaction. iDenfy will scan databases, including the black market, to provide risk scores to the potential customer. Measuring these risks will allow iDenfy to detect fraudulent activity, and prevent the completion of unwanted transactions.
When a user accesses the system, iDenfy’s new scoring tool will begin scanning the first name, address, phone number, IP address, and even the fingerprint assigned to the device. It will verify whether or not these parameters have been used in recent criminal activities. This assessment is designed to protect financial institutions and merchants from potentially fraudulent or criminal behavior.
To protect customers, iDenfy’s new tool will assess the email, security features, timestamp, and type to determine whether or not each transaction is legitimate and safe.
iDenfy also provides services that ensure the legitimacy of bank cards by running a payment card risk evaluation and a bank risk evaluation. IDenfy is a trusted source to monitor black market activity by assessing if the card being used was recently purchased on the black market.
As always, iDenfy’s top priority is making online transactions safer and more efficient for customers, merchants, and financial institutions alike.
About iDenfy
iDenfy provides online identity verification services for the financial, sharing-economy, and gaming industries. It strives to provide its partners with services that meet the highest standards. The company was awarded the title of “Startup of Lithuania” in 2018. In 2019 it became a ‘Startup of the Kaunas City’, in 2020 won the ‘Fintech Startup Of The Year Award’, and in 2021 received ‘the Baltic Innovation Prize.’
For more information and business inquiries, please visit www.idenfy.com.
