LeakIX implements iDenfy’s full-stack identity verification

News provided by iDenfy on Thursday 29th Jun 2023

iDenfy, a global identity verification and fraud prevention startup, announced joining forces with LeakIX, a cybersecurity company that focuses on delivering a comprehensive understanding of an organization's internet-facing assets. LeakIX integrated iDenfy's KYC solution into its subscription process to verify customer identities without friction automatically.

As an identity verification provider, iDenfy is responsible for safeguarding the integrity of customer information systems and data. According to the company, it’s crucial to ensure that Know Your Customer (KYC) requirements are aligned with both legal obligations and the business's specific needs. With LeakIX being a prominent player in the Internet scanning industry, iDenfy’s team aims to ensure a balance that will enable LeakIX to improve its ID verification process and increase conversions while maintaining a simple and swift onboarding process.

Before the partnership, LeakIX faced challenges concerning counterfeit accounts and fraudulent payments, which heavily impacted its KYC team. However, since integrating iDenfy's KYC solution, the company has already observed a notable reduction in manual workload for its internal team. According to LeakIX, this strategic move allowed them to focus on business growth initiatives while significantly minimizing the number of disputed payments to nearly zero.

Currently, as part of their subscription process on the platform, LeakIX leverages iDenfy's identity verification service to conduct a comprehensive KYC process. With a mission to enhance internet security, LeakIX operates as the Internet's red team. The company's platform gathers and analyzes data related to IP addresses, domains, and various network assets. This enables companies to effectively detect and mitigate risks, such as exposed databases, misconfigured servers, and vulnerable software.

The company's primary responsibility is safeguarding the internet and ensuring that all clients utilize LeakIX data in accordance with their mission and values. Introducing a streamlined verification process to the LeakIX platform will help the cybersecurity company onboard more subscribed users in less time. iDenfy's seamless API integration with LeakIX systems and infrastructure significantly influenced the decision-making process. LeakIX also selected iDenfy as their preferred partner due to our extensive global coverage, which supports more than 300 document types across 200 countries.

iDenfy’s verification process involves four simple steps: selecting the document's country and type, capturing a photo of the ID or passport, and taking a selfie. Powered by 3D liveness detection, iDenfy’s software creates a face map of the user which can be later used to blacklist clients or to find duplicates. iDenfy’s facial recognition system detects deepfakes and other fraudulent attempts to pass the ID verification process. The KYC business is also certified by ISO/IEC 27001 standard, guaranteeing data security and a smooth onboarding process for LeakIX customers.

As LeakIX enters its growth stage, it acknowledges that a secure verification solution is vital for expanding into new markets. According to LeakIX, iDenfy’s solution plays a critical role in establishing trust, reducing fraud possibilities, and enhancing the overall cybersecurity platform. In addition, it’s important to note that LeakIX has proactively developed an official open-source library for iDenfy, helping future partners regarding the integration process. With this library, organizations can simplify the integration process of iDenfy's API, saving valuable setup time and eliminating the need for additional configuration.

“We’re confident in our ability to swiftly and accurately verify our customers, ensuring that no illegitimate or fraudulent accounts are onboarded onto the LeakIX platform,” noted Danny Willems, CEO of LeakIX. “iDenfy’s identity verification service simplified the process of conducting identity checks by eliminating the manual workload for our KYC team.”

“We’re always looking for ways to improve the customer's experience. While it’s crucial to verify users quickly, it’s imperative to maintain the highest levels of accuracy and ensure that no fraudulent account is onboarded. Our team is pleased to align with LeakIX, esteemed emerging cybersecurity experts who share our commitment." — said Domantas Ciulde, the CEO of iDenfy.

About iDenfy

iDenfy is a RegTech startup that provides AML, KYC, and KYB compliance solutions to businesses of all sizes. The company has been recognized as a leading identity verification software in G2's Winter 2023 report. iDenfy has also won the "Enabler of the Year'' category at the Lithuanian Fintech 2023 awards.

For more information and business inquiries, please visit www.idenfy.com.

Press release distributed by Pressat on behalf of iDenfy, on Thursday 29 June, 2023. For more information subscribe and follow https://pressat.co.uk/

Identity Verification Fraud Prevention KYB Know Your Business AML ID Verification Security Cybersecurity Crypto Verification Verify Business & Finance Computing & Telecoms Consumer Technology Crypto Currency Personal Finance
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