back Back

iDenfy collaborates with Peccala to prevent its customers from fraud

By Edlyn Cardoza

August 09, 2022

  • AML
  • Compliance
  • Financial Institutions

iDenfy, Peccala, Identity Verification, Fraud Prevention, Robo-investor Services, KYC, AML, Compliance, Risk Management, Financial Institutions, UKiDenfy, the global remote identity verification and fraud prevention company, joined forces with the cryptocurrency investment platform that provides tokenised crypto Robo-investor services, Peccala. From now on, Peccala’s customers will be securely onboarded through iDenfy’s full-stack 4-step ID verification procedure.

“Our new partner shares the same values regarding compliance and security. For this reason, we’re thrilled to start this long-term collaboration with Peccala,” added Domantas Ciulde, the CEO of iDenfy.

Stricter laws have the potential to safeguard long-term investors and prevent criminal activity within the crypto landscape. With high net fraud rate numbers, the crypto market is known for its identity fraud issues.

According to recent findings by PYMNTS Intelligence, identity fraud makes up 44% of the incidents in the crypto sector. On top of that, iDenfy claims that purchasing crypto anonymously poses security risks, as anonymity can become a critical tool for money laundering. For this reason, as per iDenfy, Know Your Customer (KYC) obligations should be valid for the crypto industry, requiring all customers to verify their identity before or when transacting.

The growing community of crypto lovers, large high-value transaction numbers, and increasing fraud risks motivate financial institutions to search for secure digital identity verification solutions. While Peccala is still growing, the crypto company explained that finding ways to adhere to compliance standards as significant players in the industry can be challenging. Despite that, the company found a way to overcome this challenge by partnering with iDenfy.

Peccala is a fully automated and hassle-free crypto investment platform for anyone who doesn’t want to deal with the complexities of the crypto landscape, claiming to operate at the crossroads of the FinTech and Crypto industries. The company focuses on bringing everything needed for crypto investing into a simple, all-in-one platform. Pecalla’s platform offers actively managed investment strategies, allowing users to easily choose a risk level that they are comfortable with.

According to Peccala, when the business was choosing new ID verification suppliers, a few main factors that determined their decision were efficiency, security, and easy integration. iDenfy was able to tick all the boxes. The onboarding process for Pecalla’s customers now takes less than a few minutes, making it a user-friendly experience.

“Our biggest priority right now is to grow our user base. We believe that a fast and smooth onboarding process is one of the key components to achieving this goal. That’s why our team is happy to partner with iDenfy, a trustworthy, transparent company that fulfills all of our requirements regarding a secure identity verification process,” said Laura Arcade, the Co-founder of Peccala.

iDenfy’s newly integrated ID verification solution prevents unwanted registrations and suspicious identities from entering the crypto investment platform. iDenfy’s biometric ID verification is powered by 3D liveness detection, which creates a face map of the user, which can be later used to blacklist clients or to find duplicates. iDenfy’s facial recognition system detects masks, deepfakes, and other fraudulent attempts to pass the identity verification process.

Previous Article

August 09, 2022

IDEX Biometrics and Reltime to launch a Web3 biometric payment card

Read More
Next Article

August 09, 2022

auxmoney secured €500m in funding to invest in consumer loans

Read More

IBSi Daily News Analysis

Merchants, payments, UAE

July 15, 2024


Global wealth growth rebounds with major shifts expected by 2030, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Wirex & Visa expand partnership to fuel Web3 payment adoption

Read More


Daiwa Capital Markets Europe selects Delta Capita for CLM service

Read More

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
Wealth Management & Private Banking Systems Report Q2 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024