iDenfy announces partnership with Rawcaster

iDenfy, a globally renowned RegTech company offering ID verification and fraud prevention tools, announced collaborating with Rawcaster, a social media platform designed for influencers and their fans. This partnership will help automatically assess risks related to fraudulent accounts, ensuring that all Rawcaster's influencers and other social media users are protected against fraudulent attacks.

Social media platforms not only offer a good experience for the users but also can provide a huge risk due to the popularity of scammers who can easily manufacture a fake persona, for example, by checking into people’s profiles and pretending to be them replicating the age, interests, past purchases costing financial frauds and giving unreliable media experience to its users. The Federal Trade Commission (FTC) found that one in four people who reported losing money to fraud claimed it started on social media. Reported losses to scams on social media during the same period hit $2.7 billion last year.

iDenfy claims that there’s still a high level of anonymity on social platforms, and it fosters criminal behavior when individuals can operate without providing their government-issued identity documents. According to the KYC company’s research throughout the years, users online tend to operate differently when they remain anonymous than when they have to undergo a proper identity verification process.

Certain industries, such as cryptocurrency or social media, have a stigma regarding KYC. iDenfy further explains that many people online want to remain anonymous because they do not have complete trust in the platform’s security standards or want to remain anonymous due to the platform’s nature, for example, when building a social media profile on a dating site. Rawcaster agrees that encouraging people to share personal information online can be challenging. As a result, the social media company understood that the only way to overcome this challenge was to find a reliable KYC partner with a proven track record.

To protect social media platforms against internet scammers, Rawcaster decided to partner with the identity solution provider iDenfy. When selecting a partner for identity verification, Rawcaster recognized iDenfy as a credible and secure platform capable of verifying influencers and media users globally. Currently, Rawcaster is best known for its social media platform that provides a comprehensive social media experience, serving as the ultimate hub for influencers and their followers. The platform offers features such as chat, virtual meetings, talk shows, and content posting across video, audio, and text formats. The platform aims to stand out as a unique place catering to diverse social media needs.

Right now, Rawcaster uses iDenfy’s identity verification service as the main solution, ensuring a robust and secure process for verifying the identities of influencers on its platform. This partnership allows Rawcaster to reserve profile information for the correct influencers accurately, thereby enhancing the overall security and reliability of the media platform. iDenfy is committed to actively checking social media registration and including any new system to fight against the global scam snares. As influencers play an increasingly vital role in shaping online conversations, this collaboration aims to create a safer and more positive digital space for users globally.

"Our partnership with iDenfy is rooted in our commitment to providing a secure and trustworthy environment for influencers and their fans. iDenfy’s global coverage and robust identity verification solution align perfectly with our vision for Rawcaster," said Edith Viviana Gad, the Co-Founder and President of Rawcaster.

"This partnership shows our commitment to elevating security standards in the social media landscape. At the same time, with our streamlined approach to identity verification, we are able to help Rawcaster build the simplest onboarding flow for its fast-growing customer base,” added Domantas Ciulde, the CEO of iDenfy.

It’s worth noting that Rawcaster’s future plans consist of creating an even more secure environment for its growing user base, which consists of different types of influencers, including religious leaders, athletes, politicians, actors, activists, and more, helping them connect more closely with their followers. iDenfy’s role in this goal will help the company scale faster in a secure, compliant manner.

By on Fri, 23 Feb 2024 11:10:00 GMT
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