What is IDfy?
IDfy is Asia’s leading integrated identity platform, providing enterprise-grade solutions for KYC (Know Your Customer), KYB (Know Your Business), BGV (Background Verification), and advanced fraud and risk management. With a focus on digital onboarding, privacy solutions, and real-time fraud detection, IDfy empowers businesses to meet compliance requirements while enhancing customer trust and streamlining processes.
What are the features of IDfy?
IDfy offers an extensive suite of features that cater to a variety of industries:
KYC API Suite
This comprehensive suite includes over 140 APIs designed for identification and verification. With capabilities like OCR (Optical Character Recognition), liveness detection, face matching, and anti-tampering, organizations can ensure robust customer verification while maintaining a seamless user experience.
Video Solutions
IDfy’s Video KYC offers high conversion rates for video-based onboarding processes. This feature allows businesses to conduct remote verifications efficiently. It supports various use cases, including customer onboarding, relationship banking, and merchant onboarding.
Background Verification
IDfy revolutionizes background checks with tech-driven solutions that promise the fastest turnaround times (TAT), the lowest amber rates, and the most in-depth fraud checks. This service is integral for organizations that prioritize hiring trustworthy personnel, be it in blue-collar, white-collar, or gig economies.
Risk and Fraud Solutions
IDfy provides advanced solutions to combat fraud through proprietary risk assessment tools. The platform enables organizations to detect potential threats and implement life-saving measures before they escalate.
Bank Statement Analysis
This feature offers fast and precise analysis of bank statements, allowing lenders to derive deeper insights into applicants' financial behaviors. Early detection of fraud is paramount, and triangulating bank data with public and proprietary databases enhances transaction intelligence.
Privy Suite
As part of its commitment to data privacy, IDfy introduces the Privy Suite, a highly compliant suite of tools for ensuring adherence to the DPDP (Data Protection and Digital Privacy) Act. It supports organizations in managing consent governance and privacy concerns efficiently.
IDfy360
The no-code onboarding platform lets businesses build customized journeys without the need for extensive coding knowledge. With drag-and-drop workflows, companies can easily create an onboarding process that aligns with their specific requirements.
What are the characteristics of IDfy?
IDfy stands out due to its integrated solutions that combine various aspects of identity verification and risk management into a single platform. Key characteristics include:
- Scalability and Resilience: Built on ISO and SOC 2, Type 2 certified platforms, IDfy is designed to grow with enterprise needs while maintaining high performance and reliability.
- Customization Capabilities: Organizations can tailor solutions to fit their unique workflows and branding, ensuring user-friendliness and a seamless customer journey.
- Data-Driven Insights: The platform provides real-time dashboards and analytics to assist businesses in making informed decisions based on comprehensive data.
What are the use cases of IDfy?
IDfy's integrated solutions find application across multiple sectors:
- Banking: Secure identity verification processes to prevent fraud and enhance customer onboarding.
- E-commerce & Payments: Simplifying online transactions while maintaining compliance and security.
- Capital Markets: Ensuring dependable identity solutions for investments and financial markets.
- Insurance: Facilitating trustworthy verification processes necessary for insurers.
- Gaming: Providing tailored identity solutions for the gaming industry to verify and protect users.
- Fintech: Serving as a protective shield against criminal activities in financial transactions.
- HR & Recruitment: Streamlining processes to verify candidates and employees effectively.
How to use IDfy?
To leverage IDfy's offerings, businesses can follow these steps:
- Sign Up: Create an account on the IDfy platform.
- API Integration: Integrate the necessary APIs into existing workflows or use IDfy360 for no-code solutions.
- Customize Workflows: Tailor forms and verification processes to match organizational needs.
- Monitor and Optimize: Use real-time analytics and dashboards to track performance and improve processes continuously.
