iDenfy, a Lithuanian company specialising in identity verification, compliance, and fraud prevention, has unveiled new SMS and email verification features within its Know Your Customer (KYC) software.
These enhancements aim to streamline the initial user onboarding process by tackling common identity verification challenges such as multiple account creation, invalid phone numbers, and forged identities. The new features bolster the standard ID verification process by incorporating an added layer of authentication.
This involves verifying email addresses and phone numbers, which aids in identifying suspicious users prior to granting them access to secure services, such as payment applications. Users are required to provide contact details to receive a verification code, which is a prerequisite for the standard ID verification using government-issued documents.
iDenfy’s Chief Marketing Officer, Viktor Vostrikov, highlighted the demand for straightforward authentication methods in sectors dealing with financial transactions and personal data.
Vostrikov stated, “We noticed our partners asking for simple, familiar authentication methods that would increase security without damaging the general ID verification process with an ID document, since it’s mandatory for a compliant KYC flow.”
The SMS and email verification system sends a one-time code to the user, who then verifies their contact information by entering this code. This procedure not only affirms the legitimacy of phone numbers and email addresses but also enhances security measures, preventing fraudulent activities before they escalate.
iDenfy emphasises that these tools are designed to complement, not replace, existing identity checks. By verifying emails and phone numbers, businesses can detect warning signs such as invalid or suspicious contact information, which may signal fraudulent activity.
This early alert system helps prevent potential security breaches, ensuring that fraudulent actors are detected before any further verification steps are initiated.
According to Domantas Ciulde, CEO of iDenfy, “Trust begins with accurate data; therefore, our solution acts as an early checkpoint, filtering out fraudulent users before they even begin the onboarding process.” “By verifying emails and phone numbers upfront, we help businesses eliminate fake profiles, minimise risk, and maintain secure integrity of their platforms from the very first interaction.”
