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Identity Verification Blog
AML Regulations in the USA: Everything You Should Know as a Business Owner
Since 2002, more than 38 institutions in USA have reached settlements or pled guilty due to non-compliance with AML regulatory requirements and paid substantial fines in settlements. Take a look on how to get compliant in USA.
iDenfy
Frauds in NFTs And The Need For KYC
NFTs are believed to be the web3 technological tool that would change the internet economy. While web3 believers have high hope for what NFTs will become, the fraudsters of the internet are making moves in every way to outsmart creators, collectors, and investors.
Viktor Vostrikov
How to Verify Proof of Address in 2022? Here’s the Complete Guide
How exactly does the proof of address process look like? Our step-by-step guide will answer all questions related to Address Verification.
Gabija Stankevičiūtė
AML Guidelines in the European Union. What Should Financial Companies Know When Applying Business Verification?
Over the past decade, the EU has been considering how to combat the potential illicit flows through banks and other financial institutions. It’s clear that stricter financial processes call for a more robust action plan from all financial players. This time, we’ll review the EU and its standards by providing all the necessary guidelines.
Adomas Vitkauskas
Ugnė Explains What it Means to be a Team Lead
Hello, September! While the weather is getting colder, we advise you to grab a cup of coffee, sit back and relax while you learn more about another wonderful member of the team – Ugnė – our Data Review Specialists’ Team Lead.
Gabija Stankevičiūtė
How to Check if a Company is Legitimate
Especially in business, signing a contract without doing detailed research can result in becoming a money laundering channel. That’s why in today’s complex digital environment, it’s essential to take your time to research every single company that you’re interested in doing business with.
Gabija Stankevičiūtė
How Viktas Got Interested in Technology as a Kid
Are you enjoying Summer as much as we are? Even though we aren’t planning to stop releasing new products and exciting, unique features, August is the third and, unfortunately, the last month of summer. Yet it’s the perfect time to recharge your batteries by appreciating the long, warm, joyful summer days. Today’s your lucky day, …
Gabija Stankevičiūtė
Top 3 Things to Look for in an Identity Verification Mobile SDK
Mobile identity verification SDKs are necessary for fintech mobile applications. The study reveals that 97% of millennials use mobile banking applications. As a result, KYC compliance is a must for financial institutions. The question could arise whether mobile SDK is required or whether web flow is sufficient. The truth is that not a single customer …
Viktor Vostrikov
Face Authentication: Why It Completes Your Identity Verification
KYC is a perfect choice for onboarding your customer. It is quick to do and provides all the required information the business needs to know. Coupled with the AML compliance tool, it might seem that your current onboarding process is complete. However, a missing piece here is customer re-authentication after the initial onboarding. This blog …
Viktor Vostrikov
Empower Your WordPress Site with Identity Verification
iDenfy launches a new WordPress plugin to integrate identity verification into your WordPress-powered site seamlessly. Sometimes, you need a quick way to authenticate the customer inside your website. It could be an e-commerce website, online forum, or teaching platform. Regardless of the content, the goal is always the same – customer needs to be verified, and any …
Viktor Vostrikov
Erika Recommends Working in a Startup Early in Your Career
While we’re enjoying the summer heat and the long joyful nights, we might as well learn more about the people behind iDenfy. So sit back and relax, as today we’re presenting our Client Relations Manager, Erika Simanavičiūtė. She’s one of our youngest and most passionate team members. Did you know that the bright mind started …
Gabija Stankevičiūtė
What is an Ultimate Beneficial Owner (UBO)?
It’s no secret that analyzing corporate structures and identifying customer identities can be a complex and lengthy process. Today’s businesses must comply with the ever-growing regulations and ensure that the company is safeguarded from being involved in suspicious activities. Institutions that follow Anti-Money Laundering (AML) rules and abide Counter-Terrorist Financing (CTF) need to review their …
Gabija Stankevičiūtė
Improve KYC Process Using Face Authentication
iDenfy launches a face authentication toolkit to authenticate your existing customers by minimizing the account takeover threats There is a constant threat of account takeover to perform high-value transactions or change your sensitive account data. All of those actions should be secured using additional verification. Yet it has to be seamless and not make the …
Viktor Vostrikov