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KreditOne Selects IDfy as KYC Partner

FinTech will onboard customers in real-time using IDfy’s Digital KYC solution


Mumbai. July 6, 2020.


KreditOne India, the India-arm of FinTech KreditOne Singapore, and IDfy, one of Asia’s Top 5 Regulatory Technology companies, today announced that they are working together to facilitate instant disbursal to loan applicants by onboarding customers in real-time through digital KYC processes that are fraud-free and regulations compliant.

For a long time manual KYC processes have come in the way of onboarding customers remotely. The largely physical process has led to a high cost of customer onboarding, delays in loan disbursement, identity and financial fraud, and lack of regulatory compliance. KreditOne is using IDfy’s KYC solution to make this process digital and seamless, while reducing chances of risk and meeting all compliance factors.

With IDfy’s solution running their KYC, KreditOne customers can expect to get loans instantly, completing their KYC from the comfort of their homes.

KreditOne uses advanced AI algorithms and data analysis tools to provide customers with financial services in an easy, safe, fast and transparent manner.

IDfy’s Omni KYC platform, consisting of its suite of APIs that complete Digital KYC and Video KYC processes seamlessly, is enabling KreditOne India to onboard customers in real-time from their mobile platform.

“In today’s competitive market, it is important for us to be able to service the customer’s financial needs instantly in a secure environment. That’s why our KYC processes need to move at the same pace as the rest of our systems and operations,” said Anurag Kumar, CEO of KreditOne India.

“IDfy’s Omni KYC platform has the required level of resilience and speed for us to disburse loans instantly to customers,”He added.

“KreditOne provides millions of Indians with timely access to finances in a safe and transparent manner,” said Wriju Ray, co-founder and CBO at IDfy. “We are happy to play a role in helping consumers get the benefits of easy finance while keeping the financial economy free from fraud,” he added.

Mumbai-based IDfy is a Fraud Detection solutions company that processes millions of people profiles a day for leading Banks, FinTechs, Telcos, Payment Enablers, Mutual Funds, On-demand Economy, P2P Marketplaces, and Recruiters. IDfy’s suite of KYC solutions - including Digital KYC and Video KYC - delivers a fully compliant instant KYC to financial institutions.

KreditOne India is a FinTech focused on enabling digital lending in the Indian market. With a unique product, KreditOne provides an opportunity to every individual, including the first-time-borrower, to create a credit history and gradually move up the ladder in the financial ecosystem.

KreditOne strives to bridge the gap for unattended and underserved segments, who are not currently served by the the financial system due to high credit cost and other factors. KreditOne does this with a mobile app running on big data and AI that can make the right lending decision in minutes, even for first-time-borrowers.

For business queries, please write to shivani@idfy.com


For press queries, please write to anupam.m@idfy.com

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