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KAUNAS, LITHUANIA, September 01, 2023 /24-7PressRelease/ -- iDenfy, the Lithuania-based RegTech startup offering AI-powered identity verification and fraud prevention tools, announced partnering with Umazi, the UK-based global cross-industry due diligence platform for automating enterprise identity verification. With the implementation of iDenfy's KYC and KYB software, Umazi aims to elevate its due diligence processes to the highest standards possible within the SME market.
The significant expenses and time-consuming due diligence checks can prove to be quite challenging for growing businesses. iDenfy says that companies need to keep their compliance requirements up to date for different things like supply chain, funding, and sustainability. This can make things more complicated and slow down the whole process. To make it easier, iDenfy suggests using strong AI-powered tools to automate the due diligence procedures.
Umazi agrees with this approach, dressing that thorough due diligence cultivates trust among stakeholders, customers, and partners. Companies known for being meticulous in their due diligence are more likely to attract good business partners and investors. With the mission to exchange verified information and enable businesses to build trusted relationships, Umazi's team has over 20 years of finance and technology industry experience, understanding the pain enterprises face firsthand when dealing with complex due diligence challenges.
Umazi claims that in today's digitized corporate verification landscape, it is vital to protect and manage any company's verified digital identity, which operates round-the-clock. Whether the goal is to attract new clients, join a vendor database, or safeguard against corporate identity fraud, securing the company's unique corporate identity should be the main priority. Through its partnership with iDenfy, Umazi aims to enhance the corporate onboarding process, making it safer and more efficient for companies and their shareholders when undergoing KYC/KYB verification procedures.
According to iDenfy, the new partnership with Umazi will accelerate scaling, helping the due diligence service provider burst into new sectors. iDenfy's Business Verification tool will help Umazi's corporate customers gain new clients in global markets as well as speed up the onboarding process with new suppliers — all in a paperless, efficient, fully automated environment.
iDenfy explains that embracing this cutting-edge technology will also help Umazi grow its own business, build international connections, and save valuable time and resources, thanks to the seamless and hassle-free verification customer and corporate verification solutions. Additionally, iDenfy's while-labeled KYC/KYB software will enable Umazi to quickly enter new global markets with a ready-to-use and established product, saving time and development costs.
According to iDenfy officials, the collaboration with Umazi is a win-win situation for both compliance service enterprises, allowing them to leverage each other's reputation and expertise while fostering credibility among customers. By adopting customized solutions from iDenfy, Umazi can now concentrate on scaling its operations and cultivating trusted relationships with its customers. Meanwhile, iDenfy takes charge of the technical aspects and ensures ongoing updates, providing a seamless and efficient solution for Umazi's needs.
"We are delighted to partner with Umazi. Our committed team is ready to provide cutting-edge, white-labeled solutions that bring success and value to our partners and customers," said Domantas Ciulde, the CEO of iDenfy. He emphasized that iDenfy's RegTech KYC/KY services will empower Umazi to expand its offerings and bolster customer trust in its brand.
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.
For more information and business inquiries, please visit www.idenfy.com.
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