iDenfy partners with LeakIX to offer automated identity verification for enhanced security

iDenfy will be responsible for customer onboarding, helping LeakIX build a frictionless verification process

Kaunas, Lithuania (June 15, 2023) — iDenfy, an AI-powered identity verification and fraud prevention service provider, announced a new partnership with LeakIX, a cybersecurity company specializing in assisting businesses with various security risk identification and mitigation. iDenfy will ensure a user-friendly and seamless verification process for LeakIX customers.

Modern companies are willing to invest more in cybersecurity and Know Your Customer (KYC) measures. However, according to iDenfy, simply investing in cybersecurity measures is insufficient, as lengthy verification procedures can often discourage customers and lead them to abandon the platform during onboarding. As a solution, iDenfy recommends following a more effective approach to integrate faster and more seamless KYC processes with additional cybersecurity checks.

LeakIX agrees with this strategy, which has proved practical in combating the ever-evolving cybercrimes. According to the cybersecurity company, due diligence, including identity verification, has become a routine part of their acquisition process. Their customers, partners, shareholders, and employees seek assurance that the company can safeguard sensitive data. As a way to enhance security and contribute to improving the onboarding process for its customers, LeakIX decided to partner with iDenfy.

Currently, LeakIX is dedicated to offering businesses extensive visibility into their internet-facing assets. The company aims to act as the Internet’s red team, actively working towards a safer online environment. The LeakIX platform gathers and analyzes data on IP addresses, domains, and various network assets. This enables organizations to effectively identify and address security risks such as exposed databases, misconfigured servers, and vulnerable software.

With its comprehensive approach, LeakIX assists businesses in mitigating cybersecurity risks and enhancing their overall security posture. With the primary focus on security, LeakIX searched for a KYC solution that could provide additional data for risk assessment and analysis to enhance the company’s proactive risk management further.

LeakIX opted for iDenfy due to its exceptional customer support, compliance measures, and robust security protocols. Additionally, the seamless API integration offered by iDenfy is perfectly aligned with LeakIX’s systems and infrastructure. iDenfy’s identity verification solution enabled the necessary features required by LeakIX, and their accuracy and efficiency met the cybersecurity company’s specific requirements.

Being a prominent player in the Internet scanning industry with a global presence and a leading position in Europe, LeakIX encounters challenges related to counterfeit accounts and fraudulent payments. The manual verification process burdened LeakIX’s internal KYC compliance team. With iDenfy, it will now take a maximum of a few minutes or four steps for LeakIX customers to complete the full verification process. According to LeakIX, the new implementation will improve the experience for its users, also leading to a better conversion rate.

It’s worth mentioning that LeakIX took the initiative to build an official open-source library for iDenfy, helping future partners and their developers ease the identity verification implementation. By leveraging this library, organizations can expedite the integration of iDenfy’s API, eliminating the need for additional setup time.

“By leveraging iDenfy’s identity verification solution, we effectively alleviated the workload on our KYC team, enabling us to concentrate on business growth initiatives, and reduced the number of disputed payments to almost zero,” — said  Danny Willems, the CEO of LeakIX.

Domantas Ciulde, the CEO of iDenfy, added: “It’s essential to ensure that KYC practices align with legal requirements and business needs. We are thrilled to collaborate with LeakIX to enhance their overall security practices by providing robust ID verification solutions.”

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.

Contact:

Eva Azaraviciute Phone: +37066673822 Email: eva.azaraviciute@idenfy.com