iDenfy adds a new security layer to RBFC Global payment network with ID verification
iDenfy, a fraud prevention start-up that provides full-stack identity verification services, joined forces with RBFC Global, a unique digital payment solution provider from New Zealand. iDenfy’s ID verification prevents fraudulent transactions and helps detect suspicious users on RBFC Global’s network.
Fraud prevention specialists see a rise in identity theft reports due to data breaches, emphasizing the lack of efficient fraud prevention measures. According to the report by Comparitech, over 12 thousand data breaches occurred between the period 2005 and 2020 in the US. This year, the most common type of fraud in the FinTech industry has been recurring identity fraud.
Delays in KYC processes have a direct impact on account opening and customer satisfaction, affecting decisions to work with specific companies. According to RBFC Global, iDenfy’s ‘pay-per-successful-verification-only’ business model and the beneficial technical aspects of speedy customer onboarding provided them with more confidence and fulfilled RBFC Global needs. Due to this partnership, the enterprise exchanged a long, complicated document uploading process to iDenfy’s cost-effective, user-friendly identity verification.
“We’re grateful to join forces with iDenfy. Our partner provides us with the needed guarantees that the ID documents are carefully reviewed, and we’ve reached our goal to simplify the registration process for our customers. We can now be more relaxed, as iDenfy handles the administrative work.” – stated Daniel Ramirez – Chief Compliance Officer at RBFC Global Limited.
“Identity verification is vital. Not only does this measure secure customers’ assets or ensure compliance, but businesses also avoid dealing with reputation loss. We’re proud to partner with RBFC Global, a responsible company that prioritizes its safety.