Fintech
Czech Fintech Announces New Partnership against fraudulent carbon credit buyers
iDenfy, a Lithuania-based RegTech company offering identity verification technology and fraud prevention tools, announced a new partnership with CO2IN, a Czech fintech and sustainability business that focuses on reducing carbon emissions with the release of its own carbon credits to the world. CO2IN was founded in 2020 with the innovative goal of reducing carbon emissions through innovative technology and financial opportunities in mind. Currently, the company operates an app that creates voluntary carbon credits from European Union emission allowances, allowing individuals and companies to offset their carbon footprints effectively. Apart from its main purpose, CO2IN offers bespoke CSR services, especially for non-financial Environmental, Social, and Governance (ESG) reporting in compliance with the most recent EU legislation.
Moreover, users can calculate their personal carbon footprint as well as that of their trips and purchase credits through a mobile application which can be used as a form of payment with various partners and merchants. The platform’s versatility extends to assisting companies in meeting their ESG targets, making it a valuable asset for businesses and individuals committed to combating climate change.
CO2IN selected iDenfy as its partner due to the company’s flexible solution that perfectly suited the project’s needs. The company was able to offer a superior pricing structure, 24/7 support, and effortless integration of iDenfy’s identity verification that also assists in meeting AML compliance in order to enhance overall application safety by detecting fraudulent information of the person before verifying its account.
The partnership with iDenfy has allowed CO2IN to significantly lower its costs for AML solutions, addressing a critical issue for the platform. With the seamless integration, iDenfy’s Identity verification system has saved a tremendous amount of time verifying new users, as well as obtaining the information that has not only improved operational efficiency but also increased CO2IN and the users’ experience, allowing the company to focus on the application development without safety concerns.
This partnership between CO2IN and iDenfy represents a powerful alliance dedicated to making a positive impact on environmental sustainability and corporate responsibility. As both companies move forward, they are committed to delivering innovative solutions that empower businesses and individuals to contribute to the fight against climate change actively.
Václav Vislous, Product Owner of CO2IN, commented on the partnership: “We were looking for a partner who would offer a flexible solution that would fit our needs. Unlike our previous experience with the partners, the iDenfy solution fits us the best, saving time and overhead expenses, not to mention a great working experience.’’
Commenting on the partnership, Domantas Ciulde, the CEO of iDenfy, stated, “Empowering businesses taking confident steps towards innovative global problems solutions is a big honor to us since we can verify and prevent any fraud from stopping executing global solutions. Together with CO2IN, we aim to drive efficiency and compliance for companies, ultimately contributing to a more sustainable and responsible business landscape.”
CO2IN’s top priority is to assist corporations in navigating the complex landscape of ESG criteria, turning mandatory compliance into an opportunity for increased business, customer and employee satisfaction, resilience, and sustainability.
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