Czech Republic-based Peccala has partnered with Lithuania’s global ID verification company iDenfy to safeguard its user-friendly crypto platform with remote identity verification. Peccala is a cryptocurrency investment platform that provides tokenized crypto Robo-investor services.

From now on, Peccala’s customers will be onboarded through iDenfy’s full-stack 4-step ID verification procedure. iDenfy claims that purchasing crypto anonymously poses security risks, as anonymity can become a critical tool for money laundering. For this reason, as per iDenfy, Know Your Customer (KYC) obligations should be valid for the crypto industry, requiring all customers to verify their identity before or when transacting.

As the company suggests, the growing community of crypto lovers, large high-value transaction numbers, and increasing fraud risks motivate financial institutions to search for secure digital identity verification solutions. Consequently, the Czech company is no exception. While Peccala is still growing, the crypto company explained that finding ways to adhere to compliance standards as significant players in the industry can be challenging.

Partnering with iDenfy will hopefully change that paradigm. Crypto needs strong KYC Peccala is an automated and crypto investment platform for entities that don’t want to deal with the complexities of the crypto landscape, claiming to operate at the crossroads of the fintech and crypto industries. The company focuses on bringing everything needed for crypto investing into a simple, all-in-one platform.

Pecalla’s platform offers actively managed investment strategies allowing users to choose a risk level that they are comfortable with. iDenfy’s AI-powered identity verification process consists of four steps: selecting the document’s country and type, capturing a photo of the ID or passport, then taking a selfie. The onboarding process for Pecalla’s customers can now take less than a few minutes, as the press release says.

The solution iDenfy’s newly integrated ID verification solution prevents unwanted registrations and suspicious identities from entering the crypto investment platform. iDenfy’s biometric ID verification is powered by 3D liveness detection, which creates a face map of the user, which can be later used to blacklist clients or to find duplicates. iDenfy’s facial recognition system detects masks, deep-fakes, and other fraudulent attempts to pass the identity verification process.

The KYC business is certified by ISO/IEC 27001 standard. For Pecalla, the priority now is to grow their user base. For that reason, they consider that a smooth onboarding process is a key component in achieving the goal.

The face authentication solution provided by iDenfy was launched in July. To simplify the journey for the customers, the company has created a feature using a biometric authentication data – the face. The facial recognition implementation is based on identity verification market research and the demand for user-friendly Know Your Customer (KYC) solutions.

According to the company, the customer completes the whole process in three simple steps. .