iDenfy partners with RBFC Global to offer compliance benefits and a seamless identity

The new ID verification will secure transactions and ensure the customers’ safety

iDenfy, a full-stack identity verification, fraud prevention and compliance platform, partnered with RBFC Global, the swift and secure payment solution provider from New Zealand. iDenfy adds an extra layer of security by preventing fraud through remote identity verification.

Traditional banks are being criticized due to the lack of speed and complicated account opening processes. The Fintech industry revolutionized these standards, making customers look for user-friendly online banking solutions offering attractive finance rates, a better quality of service, and functionality. Despite that, fraudsters are finding new ways to commit crimes in this digital age of new technologies.

According to Basel’s Anti-Money Laundering (AML) index report, the average global money laundering risk score saw an increase in 2021 from 5.22 to 5.3 (out of a maximum score of 10). Critics argue that banks and other institutions need to stick to compliance regulations and strict security standards to avoid fines and the loss of reputation. 

With the goal to add an extra layer of security, RBFC Global searched for a new real-time ID verification solution to minimize the risks of fraud and chose iDenfy as its partner. The unique payment solution provider simplifies the flow of digital financial transactions.

RBFC Global gives its customers the ability to exchange currencies and wire transfers with confidence. The payment institute’s customers can join the platform instantly; therefore, with the new ID verification, RBFC Global wanted to keep the whole onboarding experience as smooth as possible. 

iDenfy specializes in secure and speedy services. Its 4-step identity verification can be completed in less than a minute by running a series of technical checks to detect fraud and any inconsistencies. iDenfy is a flexible fraud prevention platform, offering ID verification service alongside other digital tools to help companies battle cybercrime.

According to RBFC Global, instead of having to scan and email documents, now, with iDenfy, the identity verification is simple: clients take an onboarding selfie that’s uploaded using a smartphone within seconds and with no hassle. 

“Partnering with iDenfy opened the door to an easier customer onboarding process, and for that, we are very thankful. Identity verification is essential, especially in today’s age where fraud rates are higher than ever. The remote, fully automated process allowed us to save time and money, as we no longer need to worry about our employees manually checking the documents.” – noted Daniel Ramirez – Chief Compliance Officer at RBFC Global Limited. 

Domantas Ciulde, the CEO of iDenfy, expressed, “We understand the complexity behind fraud prevention; therefore, we’re thrilled to provide our partner with our digital  ID verification solution that simplifies the administration and the whole onboarding process for RBFC Global.”