iDenfy, an identity verification and fraud prevention platform, announces a new partnership with June, a property-tech company.
In partnership, the new ID verification solution will provide a smooth applicant onboarding flow while effectively detecting fraud for June's growing customer base.
June says it's taking a mobile-first approach to the retail industry, providing residents and owners with a simpler, cleaner and more efficient rental experience.
The company's desire to strike a balance between user experience and effective fraud prevention led to it acquiring the automated identity verification system.
IDenfy says the prop-tech rental industry is vulnerable to identity theft when criminals use stolen personal information to rent apartments online. It warns that this can result in significant financial losses, legal complications, and reputational damage to rental businesses.
To address this threat, June has now integrated iDenfy's identity verification into their applicant onboarding flow to provide seamless and personalised customer experiences.
Until partnering with iDenfy, the company's application review process was entirely manual. However, as the company scaled up its operations, this became increasingly costly and difficult to manage.
Now, new customers interested in renting apartments can simply take a picture of their ID document and will be automatically accepted to June's platform without the need for internal team supervision.
This effectively helps to minimise processing time and prevent fraudulent activities, including property scams, identity theft, and money laundering.
Currently, on average, iDenfy helps prop-techs welcome new customers in an average of two minutes.
By implementing iDenfy's verification software, June anticipates that they can reduce the average verification review time by more than 50% without compromising the quality of their application process.
This was the partnership's primary goal for June, which claims that its original in-house ID check process posed several challenges, especially during high season.
Daniil Sigal, Director of Product at June, comments: "Our team believes renting should be hassle-free and straightforward for tenants and landlords."
"We're glad to use iDenfy's identity verification, helping us provide a modern and secure solution that not only adds convenience but completely transforms the rental experience."
Domantas Ciulde, CEO at iDenfy, adds: "As an end-to-end fraud prevention platform, we're committed to helping our partners build a customer experience they can be proud of."
"For June, that means enhancing the customer onboarding process via fully automated ID verification," says Ciulde.
IDenfy's software currently supports more than 3000 ID documents across various countries, which, according to iDenfy, will help June expand into new markets and ensure compliance with global and local regulations.
In recent success, iDenfy has been recognised as a leading identity verification software in G2's Winter 2023 report. The company has also won the "Enabler of the Year" category at the Lithuanian Fintech 2023 awards.