Summary
NomadRem has partnered with iDenfy, a regtech start-up, to enhance its customer onboarding processes, deploying identity verification and anti-money laundering (AML) solutions. This collaboration streamlines user registration, customizes workflows, and enhances security for payment service providers.
Facts
- NomadRem has teamed up with iDenfy, a regtech company, to improve its customer onboarding procedures.
- NomadRem, based in Lithuania, will use iDenfy’s identity verification and AML screening solutions to ensure remittance service accuracy and integrity.
- Seamless integration with its core banking back-office system and white-label web services is a crucial requirement for NomadRem’s selection of iDenfy.
- NomadRem acknowledges that its current user registration process is straightforward, but partnering with iDenfy has streamlined it, incorporating 3D liveness detection technology.
- The collaboration allows NomadRem to create customized workflows for different countries and customer segments, including AML screening, sanctions, politically exposed persons (PEPs), and watchlists.
- iDenfy’s KYC software excels at detecting deepfakes and masking technologies, is compatible with over 3,000 document types, and is manually verified for accuracy.
- iDenfy’s CEO emphasizes security, compliance, and simplicity as critical for payment service providers and expects the partnership with NomadRem to reduce friction in the verification process.
- iDenfy previously integrated with Lithuania’s Finora Bank in January, aiming to mitigate fraud risks and gain real-time insights into financial operations.
