mano.bank confirms the partnership with iDenfy aiming to enhance customer satisfaction with a simple, user-friendly onboarding process
The global identity verification and fraud prevention startup announced joining forces with mano.bank, the specialized bank based in Lithuania. With the partnership, iDenfy aims to improve customer onboarding rates with its AI-powered ID verification solution.
Account takeover fraud, identity theft, and other complex cyberattacks are putting financial institutions at risk, claims iDenfy. While criminals are getting wiser, strengthening the chances for potential cyberattacks, businesses search for more robust authentication methods to complete their security programs.
mano.bank agrees with this approach, explaining that this is part of the reason why the specialized bank started to look for an AI-powered identity verification provider. To overcome security challenges and improve the user experience, mano.bank partnered with iDenfy, which is now responsible for automating customer onboarding with its four-step verification solution. The new collaboration helped mano.bank continue meeting Know Your Customer (KYC) compliance obligations and mitigating sophisticated financial fraud threats in real-time.
After receiving the first ever issued EU specialized banking license in 2019, mano.bank focuses on providing simpler and more efficient digital banking services. Currently, the fast-growing bank provides multiple banking solutions for businesses in Europe. While user experience is one of the company’s priorities, the bank prioritizes empowering technological solutions to boost its security system.
mano.bank benefits from the partnership with iDenfy by protecting its customers, their data, and the overall brand. According to mano.bank, iDenfy was able to fulfill all security needs by offering easy integration and efficiency. The ID verification provider’s procedure takes four easy steps. Customers select their document type and country, capture their ID document, then upload an onboarding selfie. The process takes less than a minute, ticking the box for a user-friendly verification flow.
iDenfy uses 3D liveness detection to scan users’ faces and prevent criminals from accessing the bank’s network using face masks or fake videos. The software creates face maps, which can be later recognized and blacklisted in case of fraudulent attempts to pass the verification multiple times. It’s worth mentioning that the KYC business is also certified by ISO/IEC 27001 standard, guaranteeing data security and a frictionless onboarding process for mano.bank’s clients.
“iDenfy’s solution added an extra layer of security to our network. The partnership helped us find the needed balance between smooth customer service and advanced fraud prevention. This is what we aim at mano.bank: to keep our customers safe and provide compliant, secure services,” — said Giedrė Blazgienė, CEO of mano.bank. mano.bank.
“Financial institutions and their customers seek secure and simple onboarding solutions. Our goal is to help our new partners build trust at the first customer acquisition stage. Integrating iDenfy’s ID verification helps automate compliance while securing transactions in this complex digital environment,” — noted Domantas Ciulde, the CEO of iDenfy.
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