iDenfy, a Lithuania-based RegTech firm specialising in identity verification and fraud prevention solutions, has unveiled a strategic partnership with Australia-based software development company StackGo. Known for its SaaS solutions targeting the financial services, legal services, real estate, and education sectors, StackGo is turning to iDenfy to enhance its compliance offerings for SMEs.
As part of their new collaboration, StackGo will utilise iDenfy's advanced Anti-Money Laundering (AML) Screening solution. This integration would empower StackGo to automatically assess associated risks and spot any fraud, thereby facilitating smoother compliance procedures. Automated compliance is a crucial demand within the sector where SMEs deal with the complexities of compulsory workflows.
Traditionally, businesses in compliance-loaded sectors have had to handle workflows manually or make substantial investments in creating and managing their integrations. StackGo provides a more streamlined solution, allowing businesses to incorporate workflows within their existing tech stack at the click of a mouse, all the while increasing efficiency and convenience.
The integration with iDenfy, chosen due to its robust offering with clear API and documentation, has reportedly been smooth, with no operational interruptions to note. According to StackGo, the partnership has already made a positive impact on its clientele, who have greatly appreciated the smooth integration and operational efficiency.
Key in StackGo's usage of iDenfy's solutions is the AML screening tool, specifically the Adverse Media screening. This feature is particularly useful for legal and lending services in Australia, the UK, and US. It gives them instantaneous access to real-time Adverse Media results against verified identities. This functionality boosts StackGo's commitment to offering easy-to-understand compliance solutions built upon existing tech stacks of SMEs.
iDenfy acknowledges the critical role of biometric identification technology application and consistent development of AML screening solutions. As part of the collaboration with StackGo, iDenfy is committed to continuously monitor and assess the emerging trends and threats within the regulatory landscape. This proactive move ensures that their Adverse Media screening solution remains not just effective, but also evolves to meet new challenges and risks.
"We are excited about the value that iDenfy brings to our platform. Their AML screening solution significantly enhances our compliance capabilities, enabling us to offer more robust and efficient services to our clients," shared Matt Callis, Co-Founder of StackGo.
Correspondingly, Domantas Ciulde, the CEO of iDenfy, stated, "Our collaboration with StackGo aligns perfectly with our mission to empower businesses with innovative identity verification and fraud prevention solutions. Together, we look forward to driving efficiency and compliance for regulated SMEs across various industries."
To conclude, the partnership between StackGo and iDenfy is set to benefit regulated SMEs by providing them with innovative and efficient compliance solutions, helping them to navigate any related challenges more efficiently.