As digital lending and fintech services continue to expand across mobile platforms, financial institutions are investing heavily in identity verification technologies that improve both security and customer onboarding experiences. 4Finance has partnered with iDenfy to automate Know Your Customer (KYC) processes using AI-driven facial biometric technology. The move reflects a broader industry trend toward faster, mobile-first identity verification solutions designed to strengthen fraud prevention, support regulatory compliance, and streamline digital customer experiences in an increasingly online financial ecosystem.
The deal will see iDenfy automate 4Finance’s KYC processes by using facial biometric technology.
Kaunas, Lithuania (June 15, 2021) – 4Finance one of Europe’s largest digital consumer lending groups with operations in 11 countries has announced it will partner with iDenfy. As a leader in leveraging automation and data-driven insights since 2008, 4Finance is joining with iDenfy to offer its client’s identity verification services. This service integrated within the 4Finance platforms making its users’ onboarding process quick and easy.
iDenfy’s AI facial recognition systems enable companies to comply with various anti-money laundering regulations, and satisfy due diligence obligations such as KYC (Know Your Customer) which is required by regulatory boards and law enforcement agencies. IDenfy’s identity check backed by 24/7 human supervision maintains its updates and enhancements through a company philosophy of a commitment to being ahead of the curve in innovative implementations.
Gvido Endlers, Chief Executive Officer at 4Finance Latvia commented on the selection of iDenfy by taking note of the extra security essentials which it will offer to clients, “Customers should have confidence that the digital fintech industry embraces security enhancements. 4finance has been on the cusp of offering new technological initiatives for over 12 years. We will continue to develop and move forward by integrating our platform and client experiences with innovative forward-thinking solutions. Our partnership with iDenfy, a leader in digital identity integration satisfies this commitment to our clients.“
The decision by 4finance was a technology data-driven one. Recognizing that over 70% of its client base are now applying for loans on their mobile devices, iDenfy which relies on camera-ready devices is a perfect fit to meet the demands of the 4finance demographic.
As the latest Fin-Tech partner to embrace iDenfy and its commitments to advance in the fast-paced digital marketplace, CEO Domantas Ciulde of iDenfy welcomed 4Finance to the growing ranks of Fin-Tech companies who are placing their trust in iDenfy. “We are pleased to have 4Finance one of Europe’s largest digital consumer lending groups place their trust in iDenfy. We provide innovations to meet the challenges of the ever-changing digital fin-tech industry.”
About iDenfy
iDenfy provides online identity verification services for financial, sharing-economy, gaming industries. The Lithuanian startup company was founded in 2017 at Kaunas University Technology Park by two childhood friends – Domantas Ciulde and Gediminas Ratkevicius. iDenfy was awarded “Startup of Lithuania” in 2018. In 2019 became ‘Startup of the Kaunas City’ and in 2020 won the ‘Fintech Startup Of The Year Award’.
For more information and business inquiries, please visit www.idenfy.com.
