Fideo Intelligence has unveiled Verify for Payments, a real-time identity intelligence solution aimed at combating synthetic identity fraud within the payments sector.
This announcement marks the introduction of the tool to payment service providers, fintech platforms, payment processors, and financial institutions. The goal is to identify fraudulent activity earlier in the transaction lifecycle while minimizing disruption for genuine customers.
Responding to a burgeoning threat in payments
The official press release highlights that synthetic identity fraud poses substantial operational and financial risks to financial institutions. Criminals use automation and artificial intelligence (AI) to create convincing profiles, evading traditional Know Your Customer (KYC) and onboarding controls. Global fraud losses are anticipated to reach USD 131 billion by 2030, driven largely by AI-enabled attacks.
Verify for Payments is positioned as an early layer in identity risk detection, designed to operate before compliance procedures such as KYC, Know Your Business (KYB), sanctions screening, and Politically Exposed Persons (PEP) checks. By conducting identity analysis at this earlier stage, the solution seeks to fortify signals feeding into existing compliance processes rather than replacing them.
Technical architecture and features
Delivered via an API with sub-second response times, Verify for Payments is tailored for high-speed payment environments. It claims to detect 47% more fraud compared to conventional methods by focusing on identity integrity rather than rigid rule-based assessments.
The solution can be applied throughout the payments process, including customer onboarding, merchant evaluation, account linking, and transaction monitoring. Risk evaluations are structured for transparency, providing clear explanations for any alerts generated — a feature crucial for audit requirements and compliance team workflows.
Alongside Verify for Payments, Fideo offers Signals, an additional product that supplies extended identity and network intelligence for due diligence and investigative purposes. Together, the two products constitute what the company terms a unified identity intelligence framework. Fraud analysts can utilize Signals to investigate complex identities and spot coordinated activity, while Verify handles real-time upstream risk scoring.
The official from Fideo noted that synthetic identities and AI-driven attacks are specifically crafted to exploit gaps in onboarding, compliance, and fraud systems, making the need for upstream solutions critical to their design philosophy.
Verify for Payments is now available globally to payment service providers, fintech platforms, and financial institutions. The API deployment model aims to enable organizations to integrate the solution into existing onboarding and risk decision workflows with minimal operational disruption.
This launch underscores a wider industry trend towards integrating identity intelligence earlier in the payments ecosystem, as institutions seek to minimize synthetic identity fraud and account misuse while preserving operational efficiency.
