iDenfy partners with Venevo to strengthen crowdfunding venture against fraud

DOVER, Del. - Feb. 28, 2025 - PRLog -- iDenfy, a global RegTech service provider best known for a wide variety of verification tools, announced a new partnership with Venevo, a Romania-based crowdlending platform. This collaboration is set to transform crowdfunding security and help a newly emerging startup, Venevo,  build a fully automated onboarding flow for new clients while simplifying important AML tasks with automation, such as automatically screening sanctions lists or detecting high-risk individuals and other AML risks in real-time.

Venevo, supervised by the European Securities and Markets Authority (ESMA) and Romania's Financial Supervisory Authority (ASF), is redefining the crowdfunding model by connecting entrepreneurs with investors in a collaborative ecosystem. The platform allows businesses to raise up to €5 million annually, fostering innovation while providing investors with secure opportunities to support groundbreaking projects.

Venevo needed to enhance its ability to provide a safe and transparent environment for users as well as entrepreneurs and investors who could rely on the platform to manage funds securely and comply with stringent regulatory standards. This is where iDenfy's innovative solutions opened more opportunities. By offering comprehensive identity verification tools alongside advanced AML compliance features, iDenfy is able to empower Venevo and prevent fraudulent activities.

iDenfy's identity verification (https://www.idenfy.com/) and AML tools are designed to provide a seamless yet highly secure user experience. The platform can recognize, verify, and extract data from over 3,000 identity documents across 200 countries and territories, ensuring a global reach supporting users from diverse backgrounds. These include passports, ID cards, driving licenses, and residence permits, all analyzed with exceptional accuracy and efficiency.

The company's advanced biometric capabilities, including facial recognition and 3D liveness detection, add another layer of security. These tools utilize three-dimensional face mapping technology to distinguish genuine users from fraudulent attempts such as photos, 3D masks, or AI-generated images. This technology ensures that onboarding processes are both secure and user-friendly.

In addition, iDenfy's AML screening software includes access to a comprehensive network of global watchlists, including those maintained by Interpol, Europol, and the FBI. By screening politically exposed persons (PEPs), individuals on sanctions lists, and adverse media mentions, iDenfy enables platforms to identify and mitigate risks proactively. With weekly updates to these watchlists, Venevo can stay ahead of emerging threats and maintain compliance with evolving regulations.

"Fraud and money laundering are not just financial issues, they have a profound impact on society by enabling criminal enterprises to thrive," said Domantas Ciulde, CEO of iDenfy.

"The integration of iDenfy's solutions enables us to focus on empowering entrepreneurs and investors while maintaining the highest standards of security and compliance," said Tudor Oprea, the Co-Founder of Venevo.