IDenfy, a global RegTech company specializing in identity verification and fraud prevention, has announced a new partnership with J Forex Money Transfer, one of Australia’s leading international remittance service providers.
The collaboration focuses on improving user onboarding with the use of iDenfy’s Know Your Customer (KYC) technology, to ensure faster, more secure, and fully compliant clients’ onboarding experience for users looking for efficient money transfer across the globe.
J Forex Money Transfer is an online platform that operates in the financial services industry, providing fast and transparent international remittance solutions. With a strong customer-first approach, the company has become known for its reliability and competitive currency exchange rates. Its growing network now connects thousands of users who are able to send and receive money globally to help families, businesses, and communities transfer funds safely and efficiently. With plans to scale and welcome new customers, J Forex Money Transfer aimed to improve its onboarding process, which, in practice, meant looking for a new Know Your Customer (KYC) or identity verification service provider.
Before partnering with iDenfy, J Forex’s onboarding process depended on semi-manual verification methods that were not ideal in terms of the speed of the customer registration process. As a result, J Forex Money Transfer’s team decided to land on iDenfy’s automated identity verification software, which uses biometric facial recognition, 3D liveness detection, and AI-powered document authenticity checks that can verify customer identities in real-time. This sort of switch helped J Forex Money Transfer improve onboarding times while enhancing accuracy and overall customer experience.
Customers now need to go through a few clicks, such as selecting their document’s issuing country and capturing the ID itself, followed by a quick selfie verification step that is required to compare facial biometrics with the photo on the identity document.
The system supports more than 3,000 types of ID documents from 200+ countries and territories, that complete coverage for international clients. iDenfy’s KYC workflow also helps to reduce human error and eliminates unnecessary document rechecks, in this way providing a smoother experience for legit customers and at the same time maintaining strict adherence to Australian and international regulations.
It’s worth mentioning that the international remittance sector is rapidly expanding. According to the World Bank, global remittances had reached USD 685 billion in 2024 and Australia was ranked among the top sending countries. However, the same report highlights that fraud, regulatory pressure, and identity theft remain major challenges, particularly for cross-border financial institutions. In order to address these risks, J Forex Money Transfer decided to implement iDenfy’s KYC solution, a comprehensive suite of verification tools designed to simplify the onboarding experience and ensure compliance with the financial industry regulations.
“We understand that every second matters, especially for our customers who rely on fast and secure money transfers. The quick and efficient support, combined with powerful technology, made the decision to partner with iDenfy. Today, we are seeing faster onboarding and stronger protection against fraud, which helps us to focus on what matters to most of our customers,” said Jamshad Akhter, Director of J Forex Money Transfer.
Domantas Ciulde, CEO of iDenfy, added: “Remittance businesses face increasing regulatory demands and at the same time are demanding to provide a seamless customer onboarding experience. J Forex Money Transfer’s commitment to both compliance and client satisfaction reflects the mindset of a modern financial institution. By automating their KYC process, they’re strengthening their defenses against financial crime.”