Regtech iDenfy enables ‘frictionless’ onboarding for The Everset

Lithuania-based iDenfy, which offers AI-based identity verification and fraud prevention tools, has enabled “frictionless” onboarding for US-based furniture rental platform The Everset.

The company has implemented iDenfy’s identity verification software as a solution to address security concerns and streamline the process of verifying customer information.

Prior to working with iDenfy, The Everset reported that approximately 13% of its active accounts were categorised as “non-paying, non-returning”.

As a result, it sought a fully automated customer onboarding process that would minimise fraudulent accounts and prevent them from registering on the rental service platform in the first place.

Through partnering, iDenfy will gather and maintain The Everset’s customer data in accordance with Know Your Customer (KYC) regulations and will ensure the verification of each customer during the new account creation process.

iDenfy can also customise options based on a customer’s risk profile, meaning that The Everset’s team will be able to adjust the level of friction during the KYC flow.

“Preventing fraud at the first stage of the customer cycle is paramount,” said Domantas Ciulde, chief executive officer of iDenfy.

“That said, we’re thrilled to support the Everset in welcoming new customers with enhanced security through a robust, automated identity verification system.”

Headquartered in New York, The Everset offers furniture rentals and designer-curated furniture packages.