With iDenfy’s ID verification, Placet Group will now be safer and more secure

Placet Group, a company providing consumer and business loans, partners with a Lithuania-based ID verification company, iDenfy, for the foreseeable future. 

Fraud, such as money laundering and identity theft, is one of the most significant issues we face in the world shaped by increasing demand for the digital. Katy Worobec, the MD of Economic Crime at UK Finance, has even stated the fraud to be a national security threat. With the COVID pandemic persistently raging worldwide, the stage is set for remote services to dominate over live customer service in the years to come, further complicating the problem. After all, committing fraud in cyberspace is much easier for criminals.

To counter the trend of rising fraud, many countries worldwide introduced Anti-Money Laundering, Know Your Customer, Know Your Business, and Counter-Terrorist Financing regulations. Businesses have to adhere to these guidelines or face repercussions – both in the form of fines and the loss of their clients’ trust.

Placet Group is a company that provides loans to both private consumers and businesses.  In order to protect itself against the rising prevalence of fraud in the financial industry and to seamlessly comply with KYC regulations, Placet Group set out to find a suitable partner to fill such a role.

iDenfy, a company trusted by many organizations in various industries, has attracted Placet Group’s attention. The AI-powered and human supervised identity verification solution seemed to be just what the company needed to reach its safety, security, and regulatory compliance goals. A partnership was soon established, and Placet Group can now enjoy reliable ID verification of their clients, who in turn can confirm their identities quickly and easily.

“The safety of our customers and the protection of their data are very important for us. We believe that we have found a worthy partner in order to protect our clients and ourselves from hyperspace fraud. Thanks to our cooperation with iDenfy, we are able to offer our customers a safe, quality, convenient and fast service,” said Gennadi Krotov, CEO of Placet Group.

“It’s delightful that Placet Group has seen the value of a reliable identity verification method. Clients at Placet Group will enjoy our quick, AI-powered ID verification. At the same time, the company itself can now feel confident in preventing fraud and adhering to various regulations,” said Domantas Ciulde, CEO of iDenfy.