iDenfy secures business financing for SupplierPlus with AML Screening and Monitoring

Kaunas, Lithuania - 12-14-2022 (PR Distribution™) -

iDenfy, the fraud prevention and compliance solution provider, announced joining forces with SupplierPlus, the multi-bank platform that enables corporate buyers to finance their supply chains. iDenfy’s AML Screening and Ongoing Monitoring will secure the company and help save time by automating compliance operations. 

Asked about the importance of anti-money laundering (AML) regulations, iDenfy stresses that it’s still a sensitive subject today due to some organizations focusing on the costs that the regulatory landscape brings today. iDenfy argues that the lack of an AML framework can heavily harm any organization’s reputation. For this reason, fraud prevention experts claim that automated AML tools, when used correctly, can be cost-effective and efficient while positively impacting sales. 

SupplierPlus agrees with this approach, stating that the business focuses on creating an environment where compliance is one of the top priorities. To improve its ability to detect fraud and combat money laundering or terrorist financing, SupplierPlus turned to iDenfy’s AML Screening and Monitoring solution. 

According to the multi-bank platform, the new implementation helped enable a faster service to SupplierPlus’ clients without drastically increasing costs, which was one of the critical advantages that determined the company’s decision to partner with iDenfy. Currently, SupplierPlus operates as a multi-bank platform, allowing corporate buyers with solid credit profiles to release working capital from optimal payment terms while accelerating their suppliers' cash flows. 

Now, SupplierPlus uses iDenfy's AML check and Adverse Media screening solutions, both during the stage of onboarding new clients as well as throughout AML's ongoing monitoring. The crucial element when choosing a new AML solution for SupplierPlus was automation. iDenfy’s AI-powered software instantly recognizes fraud patterns, alerting about suspicious behavior and high-risk profiles in real-time. 

By partnering with SupplierPlus, iDenfy managed to speed up the customer onboarding process, guaranteeing that legitimate clients are onboarded to the supply chain platform. The newly implemented Adverse Media checks support a risk-based approach to SupplierPlus’ compliance program. Currently, iDenfy’s AML solutions determine the clients’ risk levels and run a quick background check to review their reputation. 

“As a company focused on international markets, we see particular value in machine-translated Adverse Media checks. iDenfy allows us to monitor cross-border clients with greater efficiency,” — explained Uve Poom, the COO of SupplierPlus. 

Domantas Ciulde, the CEO of iDenfy, added: “Organizations that adopt automation simply save time and improve accuracy in their AML screening and monitoring processes. Our team is delighted to join forces with SupplierPlus and help them develop a strong AML strategy.” 

About iDenfy   

iDenfy, a platform of identity verification services and fraud prevention tools, ensures AML and KYC compliance for every company — from large-scale businesses to small organizations. The rapidly growing business was named the best “Fintech Startup” in 2020. The company also received recognition for winning a Baltic Assembly Prize for innovation in 2021. 

For more information and business inquiries, please visit

Media Contacts:

Company Name: iDenfy
Full Name: Eva Azaraviciute
Phone: +37063815442
Email Address: Send Email

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