PanPay, a financial technology company, joins hands with iDenfy to help their customers go through a frictional less screening process and data checks.
Kaunas, Lithuania (November, 03 2020) – PanPay is a multinational financial technology company that provides services like multi-currency accounts, currency exchange, global payments to corporates and individuals. The company has a large number of customers that sell goods from China/European union to all across the globe. They benefit a lot from PanPay’s quick yet budget-friendly payment collection services in various currencies. Moreover, the company allows them to send money to Mainland China bank accounts in local and foreign currencies.
PanPay offers electronic multi-currency accounts to its Chinese and European customers. The company has an in-house solution for customer identification, screening and data checks. Though European customers’ on boarding process was not smooth enough. It requires the applicant to say random numbers in Chinese, which is not easy for European customers. iDenfy will be helping PanPay to ease the onboarding process for European customers. With this partnership, PanPay will redirect their English speaking customers to iDenfy’s identity verification solution to ensure a smooth onboarding journey for them.
iDenfy is an identity verification company in Lithuania, working with many local and global brands. The company helps businesses make the identity verification process quick and smooth by turning their device into an ID verification and face recognition system.
iDenfy automates the screening during the identification process that automatically improves the KYC and onboarding process. Their identity verification solution combines face recognition, ID verification, and liveness detection to identify all the possible identity-related threats. With their powerful verification solution, PanPay will be able to onboard more customers in little time.
PanPay believes that their partnership with iDenfy will positively impact their customers’ experience in the onboarding process. They will be able to entice more clients and, ultimately, more revenue.
Justas Valentinavicius, the CEO of PanPay, says, “We are very happy to start our cooperation with iDenfy. We found iDenfy solution quality is very good, while user experience is smooth and easy. PanPay believes cooperation with iDenfy will help our business development with EU customers.”
The team at iDenfy is quite excited about this partnership. Domantas Ciulde, the CEO of iDenfy, says, “We firmly believe that our advanced identity verification solutions will help PanPay provide their customers with a great experience when onboarding.” He further says, “we will offer all the available identity verification solutions so that they can win the trust of more European e-commerce sellers and traders.”
Both iDenfy and PanPay are optimistic about the partnership and looking for new opportunities out of it.
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.
For more information and business inquiries, please visit www.idenfy.com.
For media inquiries, please contact Viktorija Bielskaite, [email protected].