ID-Pal teams with Lerex for fraud protection

Identity verification provider ID-Pal will help payment solution provider Lerex Technology with its identity verification, e-verification and anti-money laundering and KYC requirements.

The partnership will see ID-Pal support Lerex Technology with AML compliance and the onboarding of new customers seamlessly across multiple European markets.

Lerex is an e-money as a service solution provider that helps businesses offer next-generation payment systems to their customers. Its services include prepaid cards, digital accounts solutions and access to payment rails, such as Faster Payments and SEPA.

To meet compliance with the AML and KYC requirements of these programmes, it teamed up with ID-Pal. The solution completes document verification, facial matching, liveness testing and address e-verification in real-time. It also offers accuracy with GDPR compliance and can verify 6,000 types of identity documents.

Clients of Lerex will now be able to prevent fraud at source, simplify their onboarding experience for customers on any device and verify identities in any language or jurisdiction.

Lerex Technology CEO Richard Ney said, “We needed an Identity Verification solution that augmented our focus on advanced technologies and delivering the best experience for our customers. Using ID-Pal makes the compliance and onboarding process seamless for Lerex and our end clients. The results and reports are detailed and clear, allowing us to turn applications around in a timely manner and onboard customers smoothly.”

Ireland-based global identity verification provider ID-Pal recently collected €7m in its Series A funding round, as it bolsters its expansion into new international markets.

Copyright © 2022 RegTech Analyst

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.