iDenfy, an AI-powered ID verification company, and Manu, a behavioural analytics organization from Lithuania, have signed a strategic partnership.
It allows iDenfy to offer an AI model developed by Manu that evaluates customer characteristics during the application process. This additional feature will help detect potential fraud or save on external registry costs.
Manu AI technology filters unqualified customers before onboarding by tracking behaviour (e.g., typing patterns) during their online form-filling process. The model is trained using real data on credit scoring, frauds, and loan performance, which enables it to predict the risk of potential customers solely from behavioural patterns.
iDenfy has been working on document verification technology for a long time. The company wants to devise a fail-proof verification service that anyone can use. Manu shares a similar vision and wants to assist companies in profiling their customers through accurate behavioural analysis. The company also aims at extending the customer risk profile to help those clients who would be rejected under normal situations. Both Manu and iDenfy help their clients eliminate potential fraud and credit losses, which naturally led the two companies to collaborate in developing their technology.
The product needs no external data source because it works with existing application forms that an institution already uses. The developers created MANU for multi-channel integration into the customer sales process using only one line of code. Their model is applicable to cross geographical and cross-cultural use also.
MANU analytics CEO Daumantas Zamalis says, "We are extremely excited to enter into the partnership with iDenfy multiple awards winner, one of the leading startups in the region. iDenfy is a full-stack identity check service provider that aims to improve the user onboarding experience & optimize the budget for their clients. We expect to refine our offering and further develop the product utilising the extensive know-how and network of the partner. We hope to be a good fit & helping hand in achieving iDenfy goals - developing new fraud prevention and detection systems, improving user onboarding experience and success rate."
Domantas Ciulde, the CEO of iDenfy, says, "iDenfy is proud to announce that we will offer MANU as one of our additional products. Manu has made some path-breaking progress in behavioural analytics. With their work and our resources, we will not only enhance the identity check mechanism but also upgrade the behavioural AI model."
Manu believes adding their products to iDenfy’s list of products will bring global recognition and open windows for international development and partnership.