The digital economy runs on trust. After all, you do need to know who you’re dealing with. IDfy helps with that.
IDfy builds technology solutions to help companies accurately identify people, run background checks, conduct KYC, mitigate lending risks, and onboard associates. Our mission is to deliver these solutions with zero friction for end users.
Our SaaS-based employee background verification (BGV) helps you create a safe workplace while ensuring that your new employees have a great onboarding experience.
The comprehensive checks span from the fundamentals (like ID, Education, etc) to cutting-edge new-age verifications (like Moonlighting, Digital address verifications, etc), enabling you to conduct pre-joining and periodic checks with unmatched speed—boasting the industry's fastest median Turnaround Time (TAT).
IDfy’s video platform and a suite of APIs help companies
- Identify people (does Jane Doe exist?)
- Verify their credentials (do the details belong to Jane Doe?)
- Assess the risk of fraud (Has Jane Doe committed fraud or is she likely to commit one?)
If you have opened a bank account with HDFC, created a fantasy team on Dream11, or ordered from Amazon or Zomato, your life would have been touched by IDfy.
IDfy’s APIs use AI/ML algorithms to extract information from documents, check for tampering, verify ID details against official databases, compare faces across pictures, and run checks on criminal records.
Since its inception in 2011, IDfy has impacted more than 150 Million lives. Today, it runs 25 million verifications for 600 clients across India, South East Asia, and the Middle East every month.
Other IDfy clients include the likes of Axis Bank, Amex, HUL, Vodafone, PwC, PhonePe, Paytm etc.
Seller
IDfyLanguages Supported
English
Product Description
IDfy is a Mumbai-based integrated identity verification platform founded in 2011 by Ashok Hariharan and Vineet Jawa. Specializing in Know Your Customer (KYC, Know Your Business (KYB, background verifications, risk assessment, and digital onboarding solutions, IDfy offers over 140 AI/ML-powered APIs to automate these processes. Serving more than 1,500 clients across sectors such as banking, e-commerce, gaming, and FMCG, IDfy processes over 60 million verifications monthly. Its mission is to eliminate fraud and establish trust by providing seamless, secure, and compliant identity verification solutions.
Key Features and Functionality:
- KYC API Suite: A comprehensive set of over 140 enterprise-ready APIs facilitating tasks like Optical Character Recognition (OCR, document classification, verification, liveness detection, face matching, and anti-tampering measures.
- Video Solutions: Enables high-conversion, video-based onboarding processes, supporting various use cases from KYC to merchant onboarding, with low-bandwidth solutions and seamless integration.
- Background Verifications: Provides rapid turnaround times and in-depth fraud checks for white-collar, blue-collar, and gig workers, ensuring accurate results with minimal fraud risk.
- IDfy360: A no-code platform allowing businesses to build and launch customized onboarding journeys quickly, featuring drag-and-drop workflows and white-labeling options.
- CrimeCheck: Conducts legal history due diligence by analyzing over 400 million court records, orders, judgments, and tax tribunals to assess legal risks.
- RiskAI: Offers comprehensive entity due diligence solutions, enabling businesses to perform 360° risk assessments of borrowers, vendors, and other stakeholders.
- Privy: A privacy and data protection compliance suite designed to help enterprises comply with data privacy regulations like the Digital Personal Data Protection (DPDP Act.
Primary Value and User Solutions:
IDfy addresses the critical need for secure and efficient identity verification in various industries. By automating and streamlining KYC, KYB, and background verification processes, IDfy helps businesses:
- Enhance Onboarding Efficiency: Reduces onboarding time by up to 80%, enabling faster customer acquisition and improved user experience.
- Mitigate Fraud and Risk: Utilizes advanced fraud detection technologies to identify and prevent fraudulent activities, safeguarding businesses from financial and reputational damage.
- Ensure Regulatory Compliance: Provides tools and platforms that help businesses stay compliant with various regulatory requirements, including data privacy laws, thereby avoiding legal penalties.
- Improve Operational Scalability: Offers scalable solutions that cater to businesses of all sizes, from startups to large enterprises, facilitating growth without compromising security or compliance.
By integrating IDfy's solutions, organizations can establish trust with their customers, streamline operations, and focus on core business growth while ensuring security and compliance.
Overview by
Vishal Padhiyar (KYC & AML | SaaS | RegTech)
