SCOPE and iDenfy Team up to Simplify Fraud Prevention Through AI-Powered ID Verification

iDenfy, a Lithuania-based identity verification, compliance and fraud prevention company, announced a new partnership with SCOPE FinTech Solutions, a Netherlands-based business that's best known for its Software as a Service (SAAS) solutions tailored explicitly for fintech. This partnership marks a major leap forward in enhancing fintech security, particularly in response to the expanding European market and the escalating threat of financial fraud.

iDenfy helps SCOPE to streamline the identity verification process across multiple countries through straightforward, standardized ID inspection checks. According to iDenfy, this automated verification process will facilitate SCOPE's rapid expansion while maintaining a focus on essential aspects: user experience and compliance.

iDenfy's identity verification solution features 3D liveness detection powered by AI. This upgraded tool enables SCOPE to leverage cutting-edge face recognition algorithms, effectively preventing attempts by fraudulent identities to gain access to the company's platform. Furthermore, SCOPE now uses iDenfy's KYC software to streamline the verification process. This software automatically extracts data from users' ID documents and cross-references it with their account information, ensuring the authenticity of individuals accessing SCOPE's services.

The collaboration with iDenfy enables SCOPE to offer a complete onboarding solution by seamlessly incorporating the verification process into their Data Outreach module, automating the entire process for a more efficient end-user experience. This aligns with the company's general mission to deliver secure, user-friendly, and innovative AML solutions to their clients.

"Together with iDenfy, we highlight our commitment to delivering innovative fintech solutions that meet the evolving needs of compliance-bound entities. The new ID verification solution has already helped us automate client onboarding while focusing on what matters most — compliance and efficiency," commented Fred van 't Hoff, CEO at SCOPE.

"SCOPE's dedication to innovative fintech compliance solutions aligns perfectly with our mission. That's why our team is very excited to support SCOPE's efforts to mitigate the risk of fraudulent activities through robust practices, including identity verification," added Domantas Ciulde, the CEO of iDenfy.