iDenfy is teaming up with Dutch anti-financial crime boutique, BlueMonks. The partnership aims to elevate security standards in response to the rise of financial fraud.

BlueMonks is taking proactive steps to strengthen its Know Your Customer (KYC) operations to reduce potential risks arising from suspicious business activities that could lead to financial fraud, including AML. Specifically, it made a strategic decision to enhance the safety of its business clients and improve its overall performance. To achieve this, it has partnered with regtech iDenfy, a specialist in KYC/AML and Know Your Business (KYB) solutions. BlueMonks primarily employs iDenfy’s ID verification solution to identify valid identities, prevent fraudulent registrations, and thwart cyber-attacks.

Currently, the registration process with BlueMonks consists of a few straightforward steps. iDenfy has played a key role in simplifying the KYC process. The new partnership ensures a secure and smooth identity verification experience for BlueMonks’ clients. This is enhanced by 3D liveness detection technology. According to the company, the onboarding process has become straightforward as iDenfy efficiently manages all administrative tasks.

iDenfy, BlueMonks strategic collaboration goes beyond addressing historical technological gaps

BlueMonks says it now positioned at the forefront of emerging threats. iDenfy met the specified criteria because of its extensive range of accepted ID documents. Additionally, the seamless integration with BlueMonks’ internal system and white-label services was a crucial aspect of the KYC solution.

Mark van Wijk, Managing Director of BlueMonks, said: “Choosing iDenfy as our partner is a strategic decision to leverage its expertise in KYC/AML solutions. It enhances our security infrastructure to combat the growing challenges of financial cyber threats.”

Domantas Ciulde, CEO of iDenfy, added: “Our partnership with BlueMonks underscores the shared commitment to fortify financial cybersecurity. Together, we aim to provide high-end security measures that not only meet current challenges but also anticipate future threats in the dynamic landscape of financial technology.”

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