As a part of the deal between the two companies, iDenfy and Manu, will also collaborate on development work.
Kaunas, Lithuania (January 20, 2021) – iDenfy, an AI-based ID check company, and Manu, a behavioural analytics company from Lithuania, have tied up to work together. As a part of the tie-up, iDenfy will offer the AI model that Manu developed to evaluate customer behaviour during the application process. The product will allow customers to identify potential fraud.
Manu’s behavioural AI process works on using the traits left by people after filling an online form. AI can easily track these behavioural traits and assign customers under various profiles. Once profiling is complete, financial institutions can predict the risk of potential customers. The whole process lets companies eliminate potential fraud and credit losses.
The company envisions personalizing its service and removing the requirement to ask for sensitive personal information. It also wants to extend a customer risk profile to help clients who would otherwise be rejected due to their specific profile. Manu feels enabling behavioural-based marketing outreach and client support will maximize conversion effectively.
iDenfy is looking forward to working with Manu and using their behavioural analytics. The involvement will allow iDenfy to increase the efficiency of their identity verification service and help check document forgery at a much larger scale. The collaboration will also help Manu significantly better its technology and increase its accuracy rate significantly.
Manu developed the technology in such a way that it works with the existing application forms the company already uses. The process eliminates the requirement of any external data source. As Manu uses only one line of code, you can integrate it through multi-channel means into the customer sales process.
MANU analytics CEO Daumantas Zamalis says, “We are extremely excited to enter into the partnership with iDenfy multiple awards winner, one of the leading startups in the region. iDenfy is a full-stack identity check service provider that aims to improve the user onboarding experience & optimize the budget for their clients. We expect to refine our offering and further develop the product utilising the extensive know-how and network of the partner. We hope to be a good fit & helping hand in achieving iDenfy goals – developing new fraud prevention and detection systems, improving user onboarding experience and success rate.”
Domantas Ciulde, the CEO of iDenfy, says, “iDenfy is proud to announce that we will offer MANU as one of our additional products. Manu has made some path-breaking progress in behavioural analytics. With their work and our resources, we will not only enhance the identity check mechanism but also upgrade the behavioural AI model.“
The two companies are certain that the partnership will improve the existing technologies and invite new breaks in the AI world.
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 identity-related frauds. 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 2017 at Kaunas University Technology Park by two childhood friends. Company in 2018 at Lithuania was awarded as Startup of the Year, 2019 Kaunas Startup of the Year and 2020 Fintech Startup of the Year.
For more information and business inquiries, please visit www.idenfy.com.
For media inquiries, please contact Viktorija Bielskaite, [email protected]