Lithuania-based regtech company focused on identity verification and fraud prevention tools, iDenfy , has announced a new partnership with Czech fintech CO2IN . The purpose of the partnership for CO2IN is to focus on reducing carbon emissions by releasing proprietary carbon credits to the world.

At the same time, iDenfy will help building an automated verification process for high-risk users to boost the security of these carbon credit sales. More about the partnership Founded in 2020, CO2IN aims to reduce carbon emissions through proprietary technology. Currently, the fintech runs an app that creates voluntary carbon credits from the EU emission allowances, which gives individuals and companies the possibility to offset their carbon footprints effectively.

At the same time, CO2IN provides CSR services in compliance with the most recent legislation from the European Union. Through CO2IN’s proprietary technology, users can calculate their personal carbon footprint and the one from their trips and further purchase credits through a mobile app which can be used as a payment method through various partners and merchants. CO2IN chose iDenfy as its partner due to its stellar support and effortless integration of its identity verification technology that meets AML compliance.

Moreover, iDenfy provides support by detecting fraudulent information of the person before verifying its account, thus enhancing the onboarding process, and increasing conversion rates. Through this partnership, CO2IN has significantly decreased its costs for AML solutions, which proved a challenging criterion for the platform. Providing a seamless integration, iDenfy’s ID verification system saved a significant amount of time verifying new users and obtaining all the necessary information to boost operational efficiency and enhance the overall CO2IN’s users’ experience.

Finally, through this alliance, both CO2IN and iDenfy managed to deliver a positive impact on environmental sustainability and corporate responsibility. As both companies stepped into 2024 with a series of new projects, they remain committed to delivering innovative solutions and empower businesses and individuals to positively impact the environment and reduce their carbon footprint for a cleaner, waste-free planet. About the companies iDenfy provides identity verification services and fraud prevention tools, aiming to ensure AML, KYC, and KYB compliance for companies of all sizes.

The company received the award for best Fintech Startup in 2020 thanks to its rapidly growing revenues. At the same time, CO2IN was founded in 2020 in the Czech Republic and promotes sustainability, focusing on reducing carbon emissions and making the environment cleaner. .