iDenfy, a Lithuanian RegTech company known for its identity verification and fraud prevention solutions, is pleased to announce a strategic partnership with SIMPal, a telecommunication service provider. This collaboration aims to bolster digital security, providing a safer and more reliable user identification solution for SIMPal’s customers.
SIMPal operates within the travelling telecommunications sector, offering eSIM cards and internet services that enable customers to stay connected with local rates wherever they are. The company is recognised for its customer-centric approach and commitment to delivering top-notch services. It is also dedicated to ensuring the highest levels of security and compliance for its users’ operational experiences.
The telecommunications industry faces significant security challenges, particularly with the rise of identity fraud and cyber threats, with over 2 million data breaches impacting Europe in 2024. Fraudsters often exploit system vulnerabilities to gain unauthorised access to services, leading to substantial financial losses and compromised customer data.
Consequently, governments and regulatory bodies globally have imposed stringent requirements to ensure that telecommunication providers uphold high standards of security and user verification. These challenges necessitate a comprehensive identity verification solution to protect both businesses and their customers.
SIMPal recognised the need to strengthen its security framework to address these issues effectively. As a telecom operator, the company focuses on user experience. SIMPal identified that an automated solution was essential for their user-centric industry. Therefore, the telecom platform sought an efficient way to verify customer government-issued IDs and selfie biometrics to ensure security for both customers and companies. By combining document checks and liveness detection technology, SIMPal ensures the highest level of accuracy in Know Your Customer (KYC) checks.
In response, the company partnered with iDenfy, a market leader in identity verification solutions. The newly implemented KYC solution now assists the telecom company in conducting background checks while onboarding only genuine customers with good intentions. According to iDenfy, this is crucial for telecom operators, as fraudsters often use eSIM services for criminal activities. Without security checks at the registration stage, fraud rates can increase, exposing companies to significant losses, including reputational damage or non-compliance fines.
iDenfy’s cutting-edge technology, including AI facial recognition, 3D liveness detection, and document authentication, ensures that users with fake ID documents or those attempting to use masks during the verification process cannot access SIMPal’s services. iDenfy’s ID verification software is fully automated and designed to recognise, verify, and extract information from over 3000 identity documents across 200 countries and territories.
With a success rate of 99.99% and 24/7 oversight by expert reviewers, iDenfy guarantees an accurate and compliant user onboarding experience for SIMPal’s growing customer base. This partnership not only enhances customer satisfaction but also strengthens SIMPal’s security, making it more resilient against fraudulent activities and maintaining compliance with regulatory standards more effortlessly than ever.
The partnership has also reduced onboarding times due to the automated verification process, allowing customers to access services more quickly.
“Telecommunication services are increasingly targeted by identity fraudsters. We needed a KYC solution that could provide high levels of security without compromising the user experience, which iDenfy offers us,” said Daniel Palmer, CEO of SIMPal.
“We’re thrilled to partner with SIMPal and support their mission to provide secure and reliable telecommunication services. We’re ready to help the platform scale and minimize onboarding costs, which, we can say, means that we have already seen positive results,” added Domantas Ciulde, CEO of iDenfy.
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