Peer-to-peer (P2P) lending has become increasingly popular over the past decade, transforming the idea of traditional lending into a secure online investment option. According to Statista, the global P2P lending market was valued at $3.5bn dollars in 2013.

At the moment, it reached $68bn and is expected to grow to $558bn in 2027. A quick loan approval process and a less complicated application procedure offered by P2P lending platforms attract new customers, creating a competitive advantage over traditional brick-and-mortar banks.

The norms set by such lending platforms are less restrictive than those posed by banks and other strictly regulated financial institutions. As a result, P2P lending offers an opportunity to obtain funds for customers rejected at a bank. Despite that, iDenfy suggests customers not to jump into the first P2P investment opportunity, explaining that some platforms hide behind various fraudulent activities.

From creating fake replica investment sites full of phishing links to running suspicious cash flow distribution schemes, fraud has put its roots in the digital lending and investment arena.

VIAINVEST understands the importance of fraud prevention and compliance; therefore, the company prioritizes having an effective fraud prevention strategy. With a proven track record and over five years of fintech expertise, the company aims to help investors secure long-term wealth-building. According to the enterprise, clients expect a quick onboarding and screening process. For this reason, VIAINVEST wanted to find an ID verification provider that could provide both efficiency and security.

VIAINVEST is a regulated European investment platform, claiming to have created the simplest way to invest in loans from the group and its subsidiary companies. The licensed investment platform empowers its customers to invest in many asset-backed global lending markets. The company is known for its zero commission policy and doesn't charge extra fees for using the platform or investing.

iDenfy helps organisations combat identity fraud, money laundering, and other online scams. The company states that its best-known service, remote identity verification, is a vital security measure to combat new account fraud for platforms like VIAINVEST.

iDenfy designed its customer ID verification tool intending to perfect the onboarding process by turning the registration process into a quick, simple journey.

According to iDenfy, it takes four steps to complete its verification, which requires the customer to upload a passport or an ID document using a smartphone device.

With iDenfy, VIAINVEST was able to improve transparency and build a stronger relationship with its clients. Currently, iDenfy helps the company reach and monitor its clients' verification data easier:

“We joined forces with iDenfy to comply with the latest standards while offering customers a seamless onboarding and investing experience. iDenfy helps us grow faster while, at the same time, improving on operational efficiencies," commented Aleksandrs Puzdrans, VIAINVEST Platform Lead.

“Reducing fraud risks is the key element that helps businesses protect their customers and reputation. We’re extremely proud to partner with VIAINVEST, a company that values security and transparency by building trusted relationships through identity verification," added Domantas Ciulde, the CEO of iDenfy.