iDenfy, a leader in identity verification and compliance solutions, has announced its new partnership with
Portugal Residency Advisors, a consulting firm specializing in comprehensive relocation and investment services in Portugal. The partnership aims to automate the onboarding process and strengthen security measure regulations for the new clients.
As digital and cross-border transactions continue to grow. The challenges related to identity fraud and regulatory compliance have increased as well. According to Statista, in 2022, global financial fraud losses reached an estimated $41 billion, highlighting the need for robust, automated identity verification solutions. This collaboration allows Portugal Residency Advisors to verify the legitimacy of their global client list swiftly and securely while reducing compliance risks and manual verification work.
Portugal Residency Advisors has been a trusted partner for individuals, families, and businesses looking for information about residency, property acquisition, tax compliance, and relocation in Portugal. The firm’s unique value lies in its ability to offer peace of mind throughout the relocation and investment process, tailored to the client’s individual needs as well as doing business.
For this reason, the company is not only using an identity verification solution to onboard singular users but also anti-money laundering services (AML), together with near-field communication (NFC) verification, to exploit the latest features and optimize users’ onboarding journey. As the company expands its operations to serve a diverse, international customer base, maintaining rigorous client verification standards is critical.
iDenfy’s identity verification system, already trusted globally, is equipped to recognize over 3,000 types of identity documents across 200 countries and territories. Advanced biometric and face recognition algorithms ensure that the analyzed faces are real, helping to prevent the use of pictures of faces, 3D masks, and other fake fraudster tricks during the identity verification process.
Furthermore, iDenfy’s advanced AML Screening and Ongoing Monitoring Software offers a powerful solution to help Portugal Residency Advisors streamline their onboarding process and enhance compliance measures. By seamlessly scanning users against international sanctions, politically exposed persons, and law enforcement watchlists, iDenfy enables the detection and blocking of potential fraudsters or illegal applicants seeking residency permits.
Additionally, with an advanced AML filtering algorithm, the platform distinguishes genuine threats from adverse media, reducing recognition and getting most of the information about the individual. `The software connects global enforcement authorities such as Interpol, Europol, and the FBI and empowers Portugal Residency Advisors to safeguard national security while delivering a smooth onboarding experience for valid applicants.
Alongside its advanced AML screening and ongoing monitoring software, iDenfy offers NFC verification, regulated by electronic identification, authentication, and trust services (eIDAS), which brings unparalleled convenience and security, providing a seamless and stress-free experience for applicants.
With instant NFC chip data reading and identity verification completed in as little as 40 seconds, the feature ensures a faster and more user-friendly process. Also, Public Key Infrastructure (PKI) guarantees spoof-proof verification by cross-checking security certificates with global authorities, further enhancing reliability. The function is fully compatible with Android and iOS devices,
“We chose iDenfy because their solution stands out for its reliability and simplicity in onboarding, making it an ideal partner as we prioritize our clients’ experience. iDenfy’s technology helps us ensure full compliance while maintaining trust and efficiency in our processes,” said Pedro Branco, Managing Director of Portugal Residency Advisors.
“We’re excited to work with Portugal Residency Advisors in their mission to simplify relocation and investment processes for their clients. Our advanced identity verification and compliance solutions will empower them to expand confidently while protecting against fraudulent activities,” said Domantas Ciulde, the CEO of iDenfy.
By integrating iDenfy’s technologies, Portugal Residency Advisors will enhance their ability to conduct due diligence, meeting both internal security standards and global compliance requirements. This partnership marks a step forward in providing a safer, more efficient onboarding process that builds international trust for clients worldwide.
