New IDV deals for Veratad, VeriFast, iDenfy, OneID

From digital KYC to real estate and from cryptocurrencies to DBS checks, identity verification companies are busy signing new deals.

Veratad targets India

Identity and age verification company Veratad has signed a strategic partnership with Signzy targeting Indian customers.

Thanks to the partnership, Veratad will be able to offer a range of digital identity verification services, including those targeting Indian citizens. The New Jersey-based company will also be able to offer customer onboarding and age verification services to businesses in India.

Back in February, the KYC, AML and age verification provider launched a reusable identity feature that complements its existing verification methods, such as biometrics, age estimation, identity data verification, ID document verification and more.

“Our collaboration with Signzy significantly enhances our verification capabilities and improves our service offerings for Indian customers,” says Veratad CEO John E. Ahrens.

For New York-based Signzy, which provides robotic process automation (RPA) software for financial firms and other industries, the deal will allow it to offer its services through Veratad’s platforms. The company has recently launched a new tool for streamlining the KYC process.

VeriFast secures deal with 4 proptech startups

The only thing better than signing on a new client is signing on four new clients at once. VeriFast will provide its verification and authentication technology to real estate technology firms Leasey, Cove, RealSage and Rentatee.

The Canadian company will help the startups verify the identity of tenants and borrowers and their financial ability to pay. This will allow them to lower instances of fraud, which according to Forrester, 97 percent of property managers have experienced.

“Cove’s partnership with VeriFast has been instrumental in our journey to innovate within Canada’s rental market,” said Adyan Taver, chief executive of Cove. “Their plug-and-play APIs simplify the complex, making it easier for FinTechs like us to get started and scale.”

This isn’t the first time VeriFast is helping lenders. Last year, the company signed a deal with Inovatec Systems, a company that makes cloud-based software solutions for lenders.

iDenfy to handle KYC for crypto platform

iDenfy has found its newest client in the cryptocurrency business. The ID verification and fraud prevention software maker will work with Liquid Noble, a company that offers digital currency backed by precious metals through tokenization.

The Lithuania-based company will integrate its identity verification software, coupled with liveness detection, into Liquid Noble’s platform to combat fraud and ensure compliance, the companies say.

iDenfy claims that it has saved nearly 1 million euros (US$1.08 million) for its partners in 2023. During 2024, the company has added new clients including fiduciary services provider Fidesta, European football club Standard de Liège, Czech trading education platform FTMO and online gambling brand Spins.

OneID signs on DBS check company

UK’s only bank-verified digital identity verification solution OneID will provide its services to Disclosure & Barring Service (DBS) checks company Aaron’s Department.

The company will make DBS checks faster by verifying applicants’ identities and their addresses at the same time. As the only Identity Service Provider (IDSP) certified by the Home Office for DBS ID checks without document scanning, OneID will also ensure the high confidence level necessary for Standard, Basic, and Enhanced DBS checks, the two companies say.

OneID recently also signed on Confirmation of Payee provider SurePay.

In its white paper, published in April, the company gives an overview of fraud dangers and recommends UK regulators to mandate the use of digital ID online to prevent fraud.

Article Topics

digital identity  |  iDenfy  |  identity verification  |  KYC  |  onboarding  |  OneID  |  selfie biometrics  |  Signzy  |  Veratad  |  VeriFast