iDenfy, a globally recognized RegTech provider, has formed a strategic partnership with Ukraine-based Fifteen Soft, a mobile company specializing in secure award distribution via apps.
With this collaboration, Fifteen Soft aims to develop and expand new applications like the "Fifteen - Football Predictions" app. This app will integrate iDenfy’s Know Your Customer (KYC) solution for secure identity and address verification, ensuring a safe and risk-free environment for sports prediction enthusiasts worldwide.
Challenges of Digital Score Prediction Platforms
Digital score prediction platforms face significant challenges, specifically concerning fraud prevention and securing tangible rewards. These platforms often suffer substantial financial losses due to account abuse and duplicate registrations. Effective user verification is crucial for maintaining trust and achieving long-term stability. Despite efforts, fraud in the sports prediction industry continues to rise, increasingly affecting digital platforms.
These platforms often suffer substantial financial losses due to account abuse and duplicate registrations
The Federal Trade Commission (FTC) has reported a stark increase in consumer fraud losses in the United States, climbing from $3.5 billion in 2020 to $12.5 billion within four years. Account opening fraud, notably, is a leading factor in these losses, driven by criminals creating fake or duplicate accounts to exploit promotions and financial systems. With advancements in AI and synthetic identities, detecting fraudulent activities online has become increasingly challenging.
Automated Identity Verification Solutions
iDenfy's CEO, Domantas Ciulde, highlights that recent developments in sport prediction games underscore the need for innovative ideas, equitable user rules, and a seamless and fraud-free reward distribution. Consequently, automated identity and address verification services have become imperative for emerging brands.
Fifteen Soft’s prominent project, a mobile app that allows users to predict football match results and earn real-world prizes, emphasizes inclusivity, transparency, and security, offering users the excitement of predictions without the financial risk.
Ensuring Secure Identity Verification
To guarantee that rewards are distributed only to genuine players and to mitigate fraud risks
To guarantee that rewards are distributed only to genuine players and to mitigate fraud risks, Fifteen Soft has partnered with iDenfy.
iDenfy was chosen for its technical versatility, collaborative spirit, and ability to adapt verification processes to Fifteen Soft’s specific needs. This partnership has resulted in a seamless integration of identity verification that aligns with Fifteen Soft's mobile-first approach and reward-centric business model.
Advanced Fraud Detection Technologies
iDenfy's technology integrates AI-based biometric face authentication with 3D liveness detection and recognizes documents from over 200 countries. Users authenticate their identity through a government-issued document and a quick selfie check, verifying their physical presence and document-face match.
Furthermore, the proof of address service establishes custom rules to verify real users through data from sources like bank statements and utility bills. To tackle complex fraud attempts, iDenfy maintains a dedicated team of verification specialists who monitor and address flagged cases around the clock.
Building Long-term Partnerships
Tarkan Hasan Onar, Founder of Fifteen Soft, expressed, “We didn’t just look for a verification vendor; we looked for a partner. iDenfy invested time to understand our product and challenges. Their advanced identity verification and proof of address solutions gave us confidence that we could build this project long-term together.”
Domantas Ciulde of iDenfy added, “Sport prediction platforms that offer real rewards face the responsibility to ensure fairness and transparency. Our role is to help companies like Fifteen Soft to verify real users. This way, they can protect the online environment and maintain trust from the very first step after the user downloads the app.”
iDenfy, an international RegTech provider recognized for its advanced identity verification and fraud prevention solutions, announces a new partnership with Fifteen Soft, a Ukraine-based mobile company that focuses on secure awards establishment on an app.
The partnership enables Fifteen Soft to scale and build new applications, like its “Fifteen - Football Predictions” app, which will use iDenfy’s Know Your Customer (KYC) solution to securely verify identity and address details, protect reward distribution, all while building a risk-free sports prediction environment for its global fans.
Fastest-growing contributors
This challenge is particularly critical for digital score prediction platforms that offer tangible rewards and quite often lose millions of dollars annually due to account abuse or duplicate registrations. In such environments, advanced user verification is not only a security measure but a must-have requirement to build trust and create long-term stability. However, the sports prediction industry shows that the fraud continues to rise at a fast pace, with every year robbing bigger sums from the digital platforms online.
Federal Trade Commission (FTC) data state that in the United States alone, consumer fraud losses have increased from $3.5 billion in 2020 to $12.5 billion in four years. One of the fastest-growing contributors to the case of the losses is account opening fraud, where criminals create fake or duplicate accounts to exploit promotions, rewards, or financial systems. With the rapid advancement of AI and synthetic identities, to detect fraudulent users online has become much more complex than before.
Automated identity verification
According to Domantas Ciulde, the CEO of iDenfy, the sport prediction games has taken a major turn in recent years, that has established a competitive environment requires new ideas, fair rules for users, and more importantly, a smooth and fraud-free rewards giveaway experience at any time. For this reason, automated identity verification and address verification services were needed for the quickly establishing brand.
Fifteen Soft is best known for its Fifteen project, a mobile app that invites players to make free predictions on football match results and unlock real-world prizes by completing streaks. The opportunity that allows tracking progress, competing on leaderboards, and sharing achievements with friends makes this platform's football game an interactive and rewarding social experience online. Fifteen Soft's goal is to be inclusive, transparent, and safe for the users who want to enjoy the thrill of predictions without ever risking their money.
Identity verification process
Since the platform offers serious awards, it is crucial to ensure that rewards will only be given to actual players in order to avoid fraudulent accounts, duplicate users, or other forms of fraud before giving away the prizes.
The company has addressed this opportunity to partner with iDenfy, a global RegTech company specializing in identity verification and fraud prevention solutions. According to Fifteen Soft, iDenfy stood out due to its collaborative approach, technical flexibility, and ability to tailor verification workflows to the platform’s specific requirements. iDenfy worked closely with the Fifteen Soft team to design an identity verification process that can be aligned with the app’s mobile-first user journey and reward-based business model.
Complex fraud attempts
It is important to mention that iDenfy’s identity verification technology combines automatic AI-based biometric face authentication with 3D liveness detection tools, and can recognize more than 3000+ documents from more than 200 countries. Users can simply verify their identity by uploading a government-issued document and completing a short selfie check, which confirms whether the person is physically present as well as matches their face with the document.
In addition, the proof of address service helps to set custom rules and integrate a straightforward identity check method to claim rewards for only eligible users from the required documents. This ensures that the player's real address is verified from reliable data sources such as bank statements, utility bills, insurance statements, and many others. In case of a suspicious verification process, iDenfy’s in-house team of verification specialists double-check flagged cases 24/7 to ensure complex fraud attempts and potential errors are handled with precision.
Advanced identity verification
“We didn’t just look for a verification vendor; we looked for a partner. iDenfy invested time to understand our product and challenges. Their advanced identity verification and proof of address solutions gave us confidence that we could build this project long-term together,” said Tarkan Hasan Onar, the Founder of Fifteen Soft.
“Sport prediction platforms that offer real rewards face the responsibility to ensure fairness and transparency. Our role is to help companies like Fifteen Soft to verify real users. This way, they can protect the online environment and maintain trust from the very first step after the user downloads the app,’’ added Domantas Ciulde, the CEO of iDenfy.
