SupplierPlus partners up with AI-based ID verification and fraud prevention startup iDenfy

Published on 2022-11-28

SupplierPlus partners up with AI-based ID verification and fraud prevention startup iDenfy. iDenfy’s AML Screening and Monitoring solution tools will help the supply chain finance platform to automate compliance and ensure a smooth customer onboarding process.

iDenfy specialises in helping other organisations, including its new partner, meet AML and Know Your Customer (KYC) requirements without creating friction and compromising user experience. As a business focused on global markets, SupplierPlus saw great value in efficiency. According to the company, with iDenfy’s automated AML checks and machine-translated Adverse Media monitoring, fintech now can more efficiently monitor whether cross-border clients comply with KYC AML requirements..

iDenfy’s experts explain that Adverse Media checks help optimise and build robust AML compliance while automatically detecting high-risk entities. As a result, the newly implemented AML screening solution scans and monitors multiple international databases to help detect a person’s or a company’s involvement in criminal activities. iDenfy’s algorithms review data in real-time, flagging any inconsistencies and alerting SupplierPlus through notifications in case the system detects any pattern of suspicious activity.

“We are focused on international expansion and the diversification of our services. To achieve this goal, we wanted to find a trustworthy partner to handle cross-border AML checks. We appreciate the new partnership with iDenfy to secure compliance for our network.” — commented Uve Poom, COO of SupplierPlus.

“iDenfy is happy to collaborate with SupplierPlus. Our team believes that closing the security gap with robust AML compliance tools is essential in today’s digital age, not only for regulatory obligations but for ensuring your company’s operational efficiency. We’re glad to partner with an organisation with a similar approach to fraud prevention.” — noted Domantas Ciulde, CEO of iDenfy.

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