iDenfy Partners With Residenture to Streamline KYC Compliance Through Automation

iDenfy, a global technology startup offering AI-driven identity authentication and anti-fraud solutions, has announced its partnership with Swiss-based company Residenture, which is known for its fully digital property auction platform.

According to iDenfy, scammers often target industries with minimal regulations, and the real estate sector is no exception. They use property transactions to launder money. Therefore, iDenfy recommends that a platform like Residenture requires a secure and easy-to-use verification solution to enhance its security.

Residenture, a prop-tech startup and the first all-inclusive real estate auction platform online in the country, shares iDenfy’s concerns about the growing threat of fraud. The virtual real estate platform is currently exploring automated onboarding possibilities to ensure adherence to KYC guidelines and strengthen security protocols.

Residenture aims to simplify its business procedures by leveraging iDenfy’s service. One of the primary reasons Residenture chose to partner with iDenfy was its ability to offer enhanced security and a better user experience.

Armin Topic, the co-founder of Residenture, stated:

“We’re excited to partner with iDenfy. Whether it’s iDenfy’s internal KYC document specialist or the technical support team, they’ve always been open to improving their solution, which proved to be a huge benefit both during and after the implementation stage.”

Before participating in any real estate auction, sellers and potential buyers verify their identities using their smartphones or desktop computer. iDenfy’s identity verification service ensures that users are legitimate and either has Swiss citizenship or a valid visa while preventing those with stolen credentials or fraudulent identities from registering on the auction platform.

iDenfy guarantees a secure and straightforward onboarding process for all auction applicants using Residenture’s platform. The startup uses automated biometric ID verification, which is monitored by on-site personnel. This means that iDenfy’s in-house professionals manually reviews the verification of each user.

Domantas Ciulde, the CEO of iDenfy, stated:

“Our team is ready to support our partners with the tools that are vital for creating a frictionless customer experience. Digital identity verification puts trust first and provides the needed security layer that prevents potential real estate fraud.”