iDenfy, a global RegTech platform used for identity verification and fraud prevention, has announced a new collaboration with Spirits Treasure, a marketplace specializing in rare and collectible alcoholic spirits.
Through this alliance, Spirits Treasure has incorporated iDenfy's AI-driven identity and age verification technology to enhance client onboarding efficiency, improve compliance, and prevent minors from purchasing age-restricted products with fraudulent identification.
Enhancing Security and Compliance
Spirits Treasure operates within the premium and collectible alcohol sector, providing a secure platform for buying and selling exclusive spirits such as whisky, wine, champagne, rum, and cognac.
The marketplace prioritizes stringent security measures, including comprehensive payment systems and rigorous quality control, ensuring authenticity and legal compliance for each bottle. This commitment to security fosters community trust, positioning Spirits Treasure as a key European destination for investing in fine spirits.
Addressing Age Verification Challenges
This issue necessitates robust systems to uphold e-commerce platforms' legal age policies
Ineffective age verification methods and targeted digital ads can lead to underage individuals accessing alcohol without proper oversight.
This issue necessitates robust systems to uphold e-commerce platforms' legal age policies. To address this, Spirits Treasure opted for iDenfy's identity verification due to its proven effectiveness, quick integration, and user-friendly interface. Before engaging in marketplace transactions, users must undergo a security check where iDenfy's system cross-verifies ID data with biometric facial recognition to confirm legal age and authenticity.
Automated Verification Solutions
According to Jarni Stevens, CEO of Spirits Treasure, "Our partnership with iDenfy was a natural step forward. As we continue to scale across Europe, it is important to make sure that our users’ safety and compliance are critical. iDenfy’s reliable technology allows us to protect our community and create a seamless onboarding experience for every registration without sacrificing ease of use." iDenfy's verification software supports over 16,000 identity documents from 200+ regions, streamlining data validation and fostering trust within the collector community.
Ensuring Legal Sale Practices
This solution guarantees legislative compliance, preventing exploitation of the platform
The partnership also simplifies confirming legal age for purchases and ensures sellers trade high-value bottles rather than fakes. This solution guarantees legislative compliance, preventing exploitation of the platform. The NSDUH found over 12.7 million young people aged 12-20 have tried alcohol, posing developmental risks. Easy access through the internet further exacerbates this issue, highlighting the importance of secure verification.
iDenfy has recently introduced an advanced age estimation tool capable of predicting an individual's age within a three-year margin. Those whose estimated age is close to the legal threshold are subjected to a certified ID verification within the same session. Previously, identity checks were labor-intensive, but iDenfy's AI has automated this process at Spirits Treasure, lowering verification times and cutting operational costs.
As iDenfy CEO Domantas Ciulde noted, "Spirits Treasure represents the perfect mix of old premium tradition and innovation. By implementing automated identity and age verification, they're not only complying with regulations but setting a new benchmark for safety and trust in the collectible alcohol market."
iDenfy, a global RegTech platform best known for its identity verification and fraud prevention tools, announced a new partnership with Spirits Treasure, a premium C2C marketplace that is dedicated to rare and collectible liquid spirits.
With this collaboration, Spirits Treasure was able to integrate iDenfy’s automated AI-powered identity and age verification solutions that now can ensure a smooth client onboarding experience, improve compliance results, and restrict underage users from buying age-restricted items using fake or stolen IDs.
Highest security standards
Spirits Treasure operates in the premium and collectible alcohol industry, offering a secure C2C marketplace/auction marketplace where enthusiasts and collectors can buy and sell exceptional bottles of exclusive alcoholic beverages, such as whisky, wine, champagne, rum, or cognac.
This unique platform is determined to maintain the highest security standards, starting from the payment system and ending with item quality control. Each bottle is verified for authenticity and legal compliance in order to ensure that collectors worldwide can trade between each other confidently. Ultimately, Spirits Treasure’s main focus on both security and community trust has positioned it as one of Europe’s most promising destinations for fine spirits investment.
Targeted digital advertising
Poor age verification systems and targeted digital advertising on social media can lead young people to obtain alcoholic beverages without proper oversight. This growing challenge urges the need for a stronger system to protect e-commerce platforms from breaking the law and ensure a legal age maintenance policy. As a result, to handle transactions more efficiently, Spirits Treasure chose iDenfy’s identity verification solution because of its proven reliability, fast integration, and user friendly interface in the past.
Currently, before making a purchase or participating in an online auction on the Spirits Treasure marketplace, all buyers and sellers must complete a quick security check. iDenfy’s system reviews the captured ID information and matches it with the user’s facial biometrics. These two data points are compared to see if they match and if the user completing the check is of legal age to access the Spirits Treasure marketplace and buy alcoholic beverages.
Automated identity verification
“Our partnership with iDenfy was a natural step forward. As we continue to scale across Europe, it is important to make sure that our users’ safety and compliance are critical. iDenfy’s reliable technology allows us to protect our community and create a seamless onboarding experience for every registration without sacrificing ease of use,” explained Jarni Stevens, the CEO of Spirits Treasure.
iDenfy’s verification software includes automated identity verification that recognises, verifies, and extracts data from more than 16,000+ identity documents across 200+ countries and territories. That means the software supports multiple passports and residence permits in order to ensure the ability to check the data, no matter its form. This helps to maintain users’ trust and beverage products within its own growing collector community.
User qualification experience
iDenfy also helps to simplify the process to allow legal-age purchase and to make sure that the sellers are actually selling high-value bottles rather than counterfeit, distributed from an unmentioned country, and seeking to profit unethically. This solution ensures that every user meets the legal drinking age requirements and checks full identity verification before exploiting the e-commerce platform. Therefore, this approach guarantees complete compliance with international laws and a smooth user qualification experience.
A National Survey on Drug Use and Health (NSDUH) found in its research that over 12.7 million teens and young adults between the ages of 12 and 20 have already tried alcohol. These factors pose a significant risk, resulting in impaired brain development and a higher likelihood to obtain alcohol consumption habits later in life. Further concern is due to online accessibility, as most young people have internet access, and theoretically, the ability to purchase alcohol online has become easier than ever.
Certified ID document check
Recently, iDenfy has launched an upgraded age estimation tool that can estimate people’s age within 3 years of gap accuracy. Users whose estimated age falls near the legal limit or seems too young are automatically routed to a certified ID document check within the same session.
It’s worth mentioning that before adopting iDenfy, verifying user identity and age was a manual, time-intensive process. With iDenfy’s AI-powered solution, Spirits Treasure has automated this step entirely and has been able to significantly reduce verification time as well as operational overhead.
Domantas Ciulde, the CEO of iDenfy, commented: “Spirits Treasure represents the perfect mix of old premium tradition and innovation. By implementing automated identity and age verification, they’re not only complying with regulations but setting a new benchmark for safety and trust in the collectible alcohol market.”
