iDenfy partners with AlaiseData to alleviate KYC compliance in the technology sector

Jun 29, 2023

The newly implemented identity verification solution will streamline the customer onboarding process for AlaiseData

(PRUnderground) June 29th, 2023

iDenfy, a global RegTech company offering full-stack identity verification and fraud prevention tools, announced a new partnership with AlaiseData. This Germany-based development company provides innovative digital business solutions tailored to long-term product relationships. iDenfy’s verification service will help ensure KYC compliance and a swift verification process for AlaiseData’s customers.

AlaiseData creates digital business models and enables other digital platforms to run and build their own. The forward-thinking technology hub is revolutionizing the business landscape through its cutting-edge expertise in app development and modern solutions. With an unwavering commitment to excellence, AlaiseData aims to seamlessly craft applications that empower companies to streamline operations, enhance productivity, and foster meaningful connections with their customers.

By leveraging the latest advancements in technology, AlaiseData’s goal is to emerge as a trusted partner, delivering transformative solutions tailored to modern enterprises’ unique needs and aspirations. AlaiseData also aimed to meet the growing demands of its clients and enhance the overall customer experience. With that in mind, the company started to look for ways to improve the security and reliability of its services. Consequently, the developer’s hub decided to integrate a robust, user-friendly identity verification solution into their development process.

iDenfy emphasizes that businesses creating apps and modern solutions often need to utilize Know Your Customer (KYC) services. Implementing robust identity verification measures not only protects businesses from potential legal and compliance issues but also cultivates a safe environment for their users, reinforcing their commitment to user privacy and data protection. Consequently, by collaborating with iDenfy, AlaiseData will enhance the trustworthiness of its platform and boost the level of security against various fraudulent activities, including identity theft and unauthorized access.

With this partnership, iDenfy’s goal is to automate the entire KYC process and significantly reduce the time and effort required for manual verification. This way, AlaiseData will allow clients to submit their identity documents without hassle, which will be verified using advanced AI algorithms and machine learning techniques. Currently, iDenfy’s software accepts more than 3000 document types, quickly authenticating the validity of uploaded identity documents, such as passports, driver’s licenses, or ID cards from different countries and territories.

iDenfy will detect tampering, forgery, and other fraudulent activities in real-time. iDenfy’s incorporated facial recognition technology compares the live image of the users with the photo on the submitted identity document. This way, liveness detection technology ensures that the verification process isn’t compromised by the use of static images or manipulated videos, such as deepfakes. As claimed by iDenfy, given the widespread use of AI, both for positive and negative purposes, it’s become standard practice to employ such technology when ensuring the integrity of the customer onboarding process.

iDenfy also offered easy integration options, allowing AlaiseData to incorporate the KYC solution into their existing development workflow seamlessly. The identity verification solution also provided customization options to align with the company’s branding and user experience requirements. iDenfy claims that its solution will help AlaiseData save costs and reduce the time required to identify the growing customer base on the platform. At the same time, iDenfy will guarantee that AlaiseData complies with the ever-changing regulatory requirements.

“Our goal is to deter fraud effectively during the customer onboarding process, which requires simplifying the verification process for our AlaiseData’s growing customer base. We’re happy to give them the confidence that their data is safe and real,” — noted Domantas Ciulde, iDenfy’s CEO.

About iDenfy

iDenfy is a RegTech startup that provides AML, KYC, and KYB compliance solutions to businesses of all sizes. The company has been recognized as a leading identity verification software in G2’s Winter 2023 report. iDenfy has also won the ”Enabler of the Year’’ category at the Lithuanian Fintech 2023 awards.

The post iDenfy partners with AlaiseData to alleviate KYC compliance in the technology sector first appeared on PRUnderground.

Press Contact

Name: Eva Azaraviciute Phone: +37063815442 Email: Contact Us Website: https://www.idenfy.com

Original Press Release.

MLB proposes shortening regular season to 154 games in 2029, expanding Division Series to best-of-7

NEW YORK— Major League Baseball proposed to shorten the regular season to 154 games from 162 starting in 2029 and to expand the Division Series to best-of-seven in a plan given to players during collective bargaining Thursday. Owners also proposed adding nine additional days off to the current postseason format, extending it to a maximum 42 days in a move that would give top starting pitchers potential to appear more often. MLB would allow higher-seeded teams in the first two rounds of the postseason to pick their opponents beginning next year and would make most regular-season Mondays a day off for the vast majority of teams starting in 2029 except for those in up to two nationally broadcast games. Cutting regular-season games would reduce the opportunity for players to set season and career records. "Returning to a 154-game schedule would allow us to introduce a weekly off day, which is good for player health, while also creating a new national broadcast window to showcase our most exciting teams and players," MLB spokesman Glen Caplin said in a statement. The players' association said it will review the plan and will respond at the bargaining table. Baseball's five-year labor contract expires Dec. 1, and management is expected to lock out players in a confrontation that could delay or wipe out the 2027 season. MLB proposed a salary cap, which the union has vowed to never accept, along with limits on contract values and length. "Unfortunately, the league once again made clear that all of its proposals are contingent on players' agreement to a salary cap, a system that guts player rights and compensation, as well as its other anti-player proposals," the union said in a statement. MLB's regular season currently schedules 162 games over 187 days, and the new format would play the 154 games over 180 in most years. MLB would keep the Wild Card Series at best-of-three at the ballpark of the higher-seeded team, add an extra day off between Games 1 and 2 and stagger series starts. There would be only two games scheduled on each of the first three days rather than the current format of up to four games per day. No. 3 seeds could select after the regular season whether to host No. 5 or No. 6 in the Wild Card Series, and the No. 1 seeds could pick which wild-card winner to play in the Division Series. Each best-of-seven series would be played over 11 days instead of nine, adding off days before Games 5 and 7 in addition to the travel days before Games 3 and 6. MLB would stop scheduling early round postseason games in afternoons after some teams have struggled to fill stadiums in those slots. Management made a "pick your opponent" proposal in 2022 bargaining as part of a 14-team playoff plan players didn't agree to. "A shorter regular season unlocks making October even better for our fans — with fewer weekday afternoon games, a longer Division Series and more opportunities to see the game's best pitchers on the biggest stage," Caplin said. "And allowing the top seeds to select their opponents in the first two rounds would create compelling storylines, intensify existing rivalries and create new ones." As part of the proposal, each team would be scheduled for four day-night doubleheaders, one against each division rival. Minor league schedules have included days off on Mondays since 2021. Big league clubs would be scheduled for Monday games on national holidays, when many typically draw large crowds. Teams that play Mondays would be scheduled to have Thursday off. MLB said player salaries would not be adjusted to reflect fewer games and bonus provision thresholds — like those that pay players for games played — would be adjusted to reflect the shortened schedule. The National and American Leagues adopted 154-game schedules in 1904 that had every team in each eight-team circuit playing all opponents 22 times. The AL switched to a 162-game schedule when it expanded to 10 teams for 1961 and the National League followed suit the next year. The LCS started in 1969 and were best-of-five through 1984, then expanded to best-of-seven. Division Series have been best-of-five since their inception for annual use in 1995. Wild card games started with the expansion of the playoffs from eight to 10 teams in 2012 and became best-of-three Wild Card Series when the postseason increased to 12 clubs in 2022.