Baltics
iDenfy Partners with Confindo to Enhance Security and Prevent Loan Fraud
iDenfy, an AI-powered identity verification, compliance and fraud prevention solutions provider, has partnered with Confindo, a leading provider of IT solutions specialising in customer relationship management (CRM) tools for group companies and external partners. This collaboration will help Confindo manage third-party risks and ensure proper fraud and breach prevention while building a seamless and secure verification experience.
The rise in digital transactions has made robust security measures more critical than ever. With security challenges like forged documents and synthetic identities, particularly in the financial and lending sectors, companies increasingly seek advanced solutions to protect their customers. Spending on information security and risk management products and services is expected to grow by 14.3% this year, reaching more than $215 billion. However, many companies operating in the financial sector see fraud as a top priority on the list, where even a single breach can have significant legal and reputational consequences.
Confindo, a dominant player in the consumer lending market since 2018, recognised the importance of securing its platforms against potential threats. Brands under the “Confindo” name, like Lenders, Bancovo, Comparar Prestamos mainly serve as intermediaries for consumer lending services. Consequently, the business is best known for representing over 20 banks and creditors in Lithuania and processing more than 10,000 inquiries monthly. As the business experienced a high volume of requests and new registrations, it required a new trusted Know Your Customer (KYC) vendor to help safeguard its operations, especially in this expansion stage across Europe.
According to Confindo, its recent operations in Latvia and upcoming launches in two new markets also showed a need for extra automation measures in its customer onboarding process. Before partnering with iDenfy, the IT and financial service provider aimed to build a conversion-optimised verification workflow that could remove the hassle around the application onboarding process. Among several identity verification providers, Confindo selected iDenfy for its reliable and efficient identification verification solution. The new software, already trusted by other platforms under Confindo’s management, stood out for its smooth integration with existing systems and provided a comprehensive global document base for more efficient scaling into new markets.
iDenfy’s ID verification solution is designed to automatically recognise, verify and extract information from over 3000 identity documents across 200 countries and territories. This comprehensive approach helps Confindo ensure that all possible safety measures are in place to prevent fraudulent loans, a key concern in the rapidly growing consumer lending sector.
It is worth mentioning that iDenfy is ranked as the top 1 identity verification solution in customer satisfaction on G2, boasting an average of 4.9 stars and over 70 reviews in 2024. This recognition underscores iDenfy’s commitment to providing high-quality, reliable services and prioritizes online user identification security.
“We chose iDenfy because their solution is not only trusted and tested but also perfectly aligns with our commitment to ensuring the highest level of security for our customers,” said Eitautas Bartuškevičius, CEO of Confindo.
Domantas Ciulde, CEO of iDenfy, said: “We’re thrilled to collaborate with Confindo in their mission to enhance security within the consumer lending space. By integrating our ID verification solution, we’re helping them create a safer, more reliable platform for their users across multiple countries.”
The post iDenfy Partners with Confindo to Enhance Security and Prevent Loan Fraud appeared first on European Gaming Industry News.
The Lithuanian parliament on Tuesday approved restrictions on gambling advertising, set to take effect from next July.
The amendments to the Gaming Law, passed with 73 votes in favour and one abstention, will introduce a ban on gambling advertising starting in July 2025. Exceptions will apply to sports competitions and events, as well as sports sponsorships and broadcasts of sports competitions, which will have a transitional period until January 1, 2028.
Next year’s budget for the Media Support Fund earmarks an additional 4 million euros to compensate media organisations for lost advertising revenue.
Among other things, MPs backed a proposal from the parliamentary Committee on Budget and Finance to have a transitional period until the end of 2027, allowing up to three betting ad spots of under 15 seconds each per hour on television, radio and online between 06:00 and 18:00 and up to two per hour between 18:00 and midnight.
For online media, betting ads without a direct link to the gaming operator’s website will be limited to 20% of advertising space from 06:00 to 18:00 and 10% until midnight.
The post Lithuania to Ban Gambling Ads appeared first on European Gaming Industry News.
Popular iGaming content provider BGaming has made its debut in Lithuania in partnership with casino and sports betting platform Uniclub.
As part of the agreement, Uniclub will add BGaming’s wide ranging portfolio including popular Dice Million, Merge Up and Wild Chicago titles to its line-up of more than 2,000 games.
Uniclub has a rich heritage in the Lithuanian market, opening its first slot machine hall in 2004. Its owner UAB Unigames also runs iGaming website Uniclub.it, which offers slots, live casino and sports betting. UAB Unigames has sponsored Lithuanian basketball team BC Juventus, also known as Uniclub Casino Juventus, since 2021.
This deal builds on notable success in Eastern Europe for BGaming, after it launched in Bulgaria in July and strengthened its presence in Serbia and Romania through the first half of this year.
Olga Levshina, CCO at BGaming, said: “We are thrilled to partner with Uniclub as we continue to expand across regulated European markets. The Uniclub brand is a prominent player in the Lithuanian entertainment space, with more than 20 years in the casino and sports betting arena.
“We look forward to bringing our games to their players’ screens and fostering a strong working partnership.”
Martynas Matulevicius, CEO at Uniclub, said: “We are delighted to add BGaming’s vibrant content to our platform. We strive to continue delivering the best possible gaming experience to our players and with the studio’s memorable titles, we are delivering on this promise.
“Our customers can enjoy further additions as BGaming releases its sizzling summer line-up.”
The post BGaming launches in Lithuania with Uniclub appeared first on European Gaming Industry News.
We are thrilled to announce a new partnership with the swiftly up and coming Spelet.lv, launching Hacksaw’s expansive portfolio of top-tier games on the Spelet.lv platform.
Popular Hacksaw Gaming titles, including Wanted Dead or a Wild, Le Bandit, R.I.P City, and Chaos Crew, are known for their unique user experiences and have captivated players globally. These titles, along with the full portfolio of slots and Dare2Win™ games, are now proudly featured in the dedicated Hacksaw tab on Spelet.lv’s platform. This exciting addition is set to captivate Spelet.lv users across Latvia!
Founded as a trusted online casino and sportsbook, Spelet.lv has been at the forefront of delivering exceptional gaming experiences. Since its establishment, it has continually pushed the boundaries and embraced emerging technologies.
Spelet.lv expressed their enthusiasm about the launch: “Exciting News! We’re thrilled to announce a dynamic collaboration between Hacksaw Gaming and Spelet.lv! Get ready to elevate your gaming experience as we introduce Hacksaw’s innovative and immersive games to the Spelet.lv platform. Together, we’re not just launching games, we’re shaping the future of online gaming, one thrilling experience at a time. Players can look forward to a diverse selection of Hacksaw titles, ranging from thrilling scratch cards to engaging slots, all seamlessly integrated into the Spelet.lv experience. Whether you’re a seasoned gamer or new to the scene, there’s something for everyone to enjoy.”
Marcus Cordes, CEO of Hacksaw Gaming, also shares Spelet.lv’s outlook on this new beginning. “Another strong collaboration under our belts, driving our mission to revolutionise the industry and deliver innovative gaming experiences!”
The post Live in Latvia! Spelet.lv and Hacksaw Gaming Celebrate New Launch Together appeared first on European Gaming Industry News.
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