iDenfy, an international RegTech provider specializing in identity verification and fraud prevention solutions, announced a new partnership with 5 Star Jets, a premier luxury private aviation brokerage firm for high-net-worth individuals.
By integrating iDenfy's identity verification and Anti-Money Laundering (AML) screening solutions, 5 Star Jets plans to step up its client experience, enabling clients to book VIP charter flights remotely and securely, all by using limitless banking or crypto payment options and a faster, more secure verification process in one place.
About 5 Star Jets
The private aviation sector is undergoing a significant transformation since digital assets have become an accepted form of payment for high-value transactions. 5 Star Jets is a private aviation brokerage firm that stands in the middle of the Web3 shift, currently accepting payments from over 1,000+ market cryptocurrencies.
The company is in the final stage of launching the world's first Jet Card program, funded 100% with digital assets that can operate worldwide 24/7.
Seamless and scalable verfication
5 Star Jets required a compliance solution that would meet the strict standards of Tier-1 banking partners, such as J.P. Morgan, but also find a vendor that could deliver a seamless and scalable verification experience to its exclusive clientele. For that, multiple experienced Know Your Customer (KYC) service providers were assessed.
The challenge was clear: accepting cryptocurrency in private aviation had long been treated as a high-risk choice due to anonymity concerns, and therefore, without a proper verification service provider, processing borderless digital asset payments around the clock was never possible for institutional partners.
iDenfy to onboard security
iDenfy proved to be a good fit because it ticked all of the boxes and had experience in both aviation and the luxury item/service industry, which are both highly regulated, requiring a balance between simple U/X and ensuring compliance. Consequently, 5 Star Jets selected iDenfy for its Regtech compliance leading platform, 8 years of proven operational track record, and ability to deliver the highest level of onboarding security in under 3 minutes.
Identity verification process
iDenfy now serves as the first layer of 5 Star Jets' crypto payment gateway that ensures every client funding a flight or acquiring an aircraft with digital assets is verified against global watchlists in real time. Surprisingly, according to the 5 Star Jets, the identity verification process takes even faster, just 60 seconds for the clients, which made a greater impression of the software's efficiency.
An onboarding solution doesn't require an extensive technical overhaul because it plugs directly into the current payment infrastructure. iDenfy's identity verification solution has the ability to identify, extract, and validate information from over 3,000+ documents issued in more than 200+ nations and territories worldwide, including driver's licenses, passports, national ID cards, and residence permits.
Its built-in facial recognition system uses precise data to detect deepfakes, false identities, and altered images with a dedicated team of in-house verification specialists to maximize accuracy.
Compliance
The result is a 99.9% KYC verification accuracy rate that gives 5 Star Jets and its institutional partners full confidence in every approved client profile. In addition, it is now more possible than ever to access full compliance information without disrupting the premium client experience with the extra load of documents and the long process of manual KYC review.
For the aviation sector specifically, iDenfy's solution addresses the dual pressure of strict regulatory compliance, increasingly mandated under frameworks such as the EU's AML directives and the FATF’s guidance for high-value dealers, and the expectation from ultra-high-net-worth clients that want a seamless verification experience.
Pricing philosophy
It’s worth mentioning that iDenfy's pricing philosophy is that businesses pay only for approved verifications. Rejected, incomplete, or failed identity checks are not counted toward the client's costs.
This means that every dollar 5 Star Jets invests in compliance directly corresponds to a successfully verified, revenue-generating client.
Expert opinions
"With iDenfy, every client transacting in digital assets is verified in real time against global watchlists. It gives our aircraft owners peace of mind and allows us to process borderless payments 24/7 with total confidence. That is what a truly luxurious experience demands," said Alejandro Leon, CCO of 5 Star Jets.
Domantas Ciulde, CEO of iDenfy, commented, "The private aviation market has unique demands, zero friction, and absolute compliance. 5 Star Jets is an example of how modern luxury brands can embrace Web3 and digital onboarding without sacrificing regulation and speed demand."