iDenfy joins forces with Residenture to ensure frictionless customer onboarding

iDenfy’s biometric identity verification will guarantee a fraud-free environment for the real estate platform 

Kaunas, Lithuania (February 8, 2023) — iDenfy, the global tech startup providing ID verification and fraud detection services, announced a new partnership with Residenture, the Swiss-based automated real estate auction platform. iDenfy’s AI-powered identity verification will ensure secure property transactions and compliant, user-friendly customer onboarding. 

As communication is taking place in the digital sphere, property fraud is rising, making it easier for fraudsters to use stolen identities or impersonation tactics. iDenfy claims that real estate businesses need security measures to protect customer’s data, their employees, and the company’s reputation. To protect its transactions and avoid fraud risks, Residenture started to look for verification tools. The property auction platform chose iDenfy’s four-step identity verification service.

Residenture, the prop-tech startup and the first online real estate auction platform in Switzerland, agrees with this security-oriented approach. The company aims to grow further by digitizing real estate processes and bringing transparency globally, especially in the area of auctions. Residenture’s officials explained that iDenfy’s solution helped provide valuable insight into whether the potential customers are legitimate owners, property buyers, or fraudsters.

The real estate platform focuses on ensuring a positive experience for its customers. When searching for a new IDV provider, Residenture wanted to improve user onboarding time. According to Residenture, iDenfy’s verification solution lifted the burden of manual ID document review, scoring a swift and safe onboarding process for its clients.

The new partnership currently ensures that every person involved in the property auction exists and has a Swiss citizenship or residence permit. With the newly implemented ID verification solution, Residenture establishes automated compliance practices and customer due diligence measures protecting the real estate business from illegal transactions and money laundering risks.

According to iDenfy, with its end-to-end ID verification, Residenture can filter high-risk transactions while minimizing the manual workload for internal compliance teams. This partnership helps Residenture prevent unwanted auction applicants while detecting suspicious customer behavior patterns in real time.

Residenture claims to have noticed positive changes already. iDenfy helped reduce verification time while boosting the client experience. On average, it now takes four steps or a minute to onboard new auction applicants. iDenfy’s internal KYC team double-checks AI-powered software results to guarantee the complete accuracy, helping Residenture monitor verification data easier.

It’s worth noting that iDenfy’s identity verification solution is certified by the ISO/IEC 27001 standard, guaranteeing that Residenture’s clients’ data is taken care of with the highest security protocols. Earlier this month, iDenfy announced the launching of its new Partner Program, bringing more collaboration opportunities in various sectors.

“Our partnership with iDenfy helps drive long-term sustainable growth, ensuring the highest compliance and security standards. By automating our due diligence, we have managed to simplify the onboarding process and gather data more efficiently,” – stated  Armin Topic, the Co-Founder of Residenture.

“By combining real estate and technology, we create a modern approach to business and security, where identity verification can play a key role in optimizing the way to onboard new participants. Our team is excited to join forces with Residenture, helping them scale faster with fully automated KYC processes,” – added Domantas Ciulde, the CEO of iDenfy.

About iDenfy   

iDenfy, a platform of identity verification services and fraud prevention tools, ensures AML, KYC, and KYB compliance for every company — from large-scale businesses to small organizations. The rapidly growing business was named the best Fintech Startup in 2020.  Recently, iDenfy was featured in G2’s Winter 2023 report as the leading identity verification software.

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