MiFinity has announced the incorporation of Veriff’s automated Proof of Address solution to enhance its Know Your Customer (KYC) procedures worldwide.

This move is anticipated to refine MiFinity’s KYC process by improving fraud prevention and compliance measures through efficient automation.

Building on a two-year partnership with Veriff for Proof of Identity (POI) verifications, integrating automated POA will enable a seamless, real-time verification experience combining both POI and POA checks. This approach is expected to offer quicker onboarding processes, immediate account upgrades post-completion, and a smoother user journey.

Details of the MiFinity x Veriff Alliance

The Veriff solution employs AI and machine learning technologies to authenticate documents, identify manipulations, and spot fraudulent activities promptly. This approach aims to ensure that only genuine customers are granted access while minimizing manual involvement for MiFinity’s KYC team. The result is a faster, more secure, and scalable onboarding process that safeguards merchants, enhances compliance, and supports long-term business growth.

The integration will also assist MiFinity in adopting optimized technologies, streamlining the user experience by reducing friction for valid users while blocking potential threats. Consequently, this partnership aims to increase customer satisfaction, foster trust in the platform, and provide added value to its network of global merchant brands.

Through this collaboration, both companies will expedite digital onboarding in fintech sectors such as e-commerce, travel, or Forex. They will focus on addressing clients’ needs, preferences, and demands while adhering to industry regulations and laws.