Established in 2021 by Olufemi Olanipekun, Veend has emerged as a leading provider of digital financial services, catering to millions of customers, ensuring smooth customer onboarding, and showing no signs of slowing down. Veend tackled challenges in loan repayment collection, aiming to improve business growth and risk management in the lending sector. The company provides embedded finance infrastructure, automating lending, payroll, and expense management, and offering credit-enabled cards for easy access. VeendHQ primarily serves financial institutions and merchants.
The Challenge:
To address rising identity theft in fintech, Veend sought solutions to combat financial crimes, even with limited financial histories. The challenge was to ensure seamless onboarding of the right customers while filtering out fraudulent activities effectively. Veend turned to Identitypass, a customizable, adaptable, and seamless solution that automated the majority of their identity verification processes. By integrating Identitypass, Veend accessed a comprehensive suite of verification products tailored for current and future market expansion.
The Outcome:
Veend’s integration with Identitypass has significantly reduced the impact of identity fraud on their platform, effectively mitigating financial risks such as fraud, identity theft, and credit risks. By optimizing onboarding, Veend gained insights into customer behavior, improving experience and focusing on core business activities over error-prone methods.
About Identitypass:
Identitypass, a global digital identity verification solutions leader under the parent brand Prembly, offers robust KYC and compliance experiences to businesses worldwide. Identitypass uses authentic data and AI to enable swift verification, fraud detection, and prevention, ensuring secure identity processes. Serving diverse industries like Fintech, Insurance, and E-commerce, Identitypass safeguards brands from identity theft while streamlining customer onboarding processes. Processing thousands of verification calls daily, Identitypass facilitates trust, compliance, and growth for digital businesses worldwide.
Explore our products and get started with your digital identity verification journey today.
