The two companies signed a partnership to work on identity and behavioural AIs to enhance their respective products.
KAUNAS, LITHUANIA, January 20, 2021 /EINPresswire.com/ — iDenfy, an identity check service provider, and Manu, a Lithuania-based organization specializing in behavioural analytics, agreed to list Manu’s behavioural AI as iDenfy’s additional product. The partnership will mark the beginning of a new journey between the two tech companies. Manu designed their product to assist finance companies in differentiating possible deception from genuine clients.
According to Manu, every person filling an online form leaves behind some traces. The company worked on an accurate behavioural process using real data on credit scoring, frauds, and more broadly customer performance, which enables it to predict the risk of potential customers solely from behavioural patterns. It helps companies eliminate potential fraud and credit losses.
Manu addresses that companies face two difficulties with personal data about customers online. First, due to a lack of customer data, a business cannot predict fraud. Second, companies that even have quality data spend unnecessary amounts of money by rejecting customers. Manu states that this can be done with fewer data and has developed 60 different behaviour metrics to collect 4000 data points during a single form-filling process. It then profiles each customer depending on their behaviour during onboarding.
With Manu’s behavioural AI, iDenfy wants to enhance its identity check algorithm. iDenfy will also offer Manu’s AI model that evaluates customer behaviour during an application process. Once the product is on offer, iDenfy’s customers can effectively use it to identify potential fraud.
Manu’s profiling strategy will significantly help more broadly originators who cater to subprime customer segments. The AI will automatically mark undependable debtors before onboarding begins. It then adds behavioural data points for better risk profiling and lower defaults.
MANU analytics CEO Daumantas Zamalis says, “We are extremely excited to enter into the partnership with iDenfy multiple awards winner, one of the leading startups in the region. iDenfy is a full-stack identity check service provider that aims to improve the user onboarding experience & optimize the budget for their clients. We expect to refine our offering and further develop the product utilising the extensive know-how and network of the partner. We hope to be a good fit & helping hand in achieving iDenfy goals – developing new fraud prevention and detection systems, improving user onboarding experience and success rate.”
Domantas Ciulde, the CEO of iDenfy, says, “iDenfy is proud to announce that we will offer MANU as one of our additional products. Manu has made some path-breaking progress in behavioural analytics. With their work and our resources, we will not only enhance the identity check mechanism but also upgrade the behavioural AI model.”
Both Manu and iDenfy help their clients eliminate potential fraud and credit losses, which naturally led the two companies to develop their technology.