The two renowned entities form a partnership to ease the KYC (Know Your Customer) compliance process for people who wish to invest in virtual currencies.
KAUNAS, LITHUANIA, July 21, 2020 /Neptune100/ — iDenfy, one of the renowned identity verification companies of Lithuania, and Coincurve, a Canada-based online virtual currency platform, are pleased to announce that they have entered into a partnership. The alliance aims at helping virtual currency customers with a smoother experience when complying with the KYC process.
Coincurve enables customers to buy Bitcoin in the simplest way. This fintech company is wholly owned by Interlapse Technologies Corp. (TSXV: INLA), a Canadian publicly-listed TSX Venture company. Unlike traditional crypto services, Coincurve offers a frictionless way to purchase Bitcoin – just a few mouse clicks and you’re ready to buy Bitcoin. With fast customer onboarding, Coincurve doesn’t require customers to sign up and is a non-custodial platform; Which means a user can hold their own Bitcoin and be their own bank. Coincurve is fully compliant with strict KYC standards and iDenfy will be providing the extended technology platform to confirm the identity of its users.
iDenfy, which offers a wide range of identity verification solutions to several brands across the world, will provide Coincurve with state-of-the-art identity verification solutions. This solution will help Coincurve improve the quality of its operations, minimize financial risk, and detect fraudulent use of their platform and other financial crimes. iDenfy supports AI-enabled, real-time identity verification solutions that make the verification process smooth and effective. iDenfy’s automatic ID document detection is capable of recognizing documents by type, country and can verify more than 1300 documents from over 200 countries providing extended reach for Coincurve to conduct customer on-boarding and client verification when expanding into new countries.
Domantas Ciulde, the CEO of iDenfy, says, “We are happy that we’re contributing to Coincurve’s aim to offer people easy access to cryptocurrency, which is surely the next generation of finance. We are sure that our identity verification solution will help Coincurve expand internationally and provide a great experience to their customers.”
Wayne Chen, CEO of Interlapse Technologies Corp. added, “Our partnership with iDenfy amplifies our KYC standards for much safer virtual currency adoption. As we plan to expand Coincurve internationally, iDenfy provides a technology efficient platform that future proofs our service for verifying identifications from all over the world.”
This partnership will also have a positive impact on the overall crypto industry. It will inspire other crypto services to invest in advanced identity verification technology to make the crypto market a safer place. Not only will solutions like iDenfy help crypto services combat criminal acts, prevent scammers from malicious purposes, but also ensure the safety of customers’ assets.
iDenfy’s goal is to turn a customer’s device into an ID scanning and face recognition system that makes it fast and easy to capture and verify their ID and other credentials to meet KYC and AML requirements. Real-time ID scanning and face verification are applied on websites and mobile applications, helping reduce risk and minimize fraud for online transactions. This enables customers to perform daily operations from their home instead of going to service centers, where a company needs many cost-ineffective employees. Also, it avoids the costly and time-consuming process of manual documentation required for submission and verification.
It was founded in 2016 at Kaunas University Technology Park by two childhood friends. Company in 2018 at Lithuania was awarded as Startup of the Year. iDenfy provides real-time identity verification service for financial, sharing-economy, gambling industries.