IDfy is an identity verification and fraud-prevention platform that automates KYC checks, background verification, and consent management for banks, fintechs, and gig-economy platforms. Ashok Hariharan and Vineet Jawa founded the company in 2011 in Mumbai, India, where it started as a niche background-verification and KYC provider before expanding into a broader trust-and-safety platform.
The platform runs identity checks against government-issued ID databases, screens for document forgery, and scores fraud risk using machine learning trained on its own verification history. IDfy processes more than 80 million verifications a month across India, the Philippines, Indonesia, the UAE, Saudi Arabia, Oman, and Qatar, giving it a regional dataset most single-market competitors can't match for detecting local fraud patterns.
IDfy targets banks, NBFCs, insurance companies, and platforms onboarding large volumes of users needing identity checks at scale, not individuals verifying a single document. Pricing runs per verification, consent event, or dataset analyzed, starting around ₹1,000 for straightforward checks and rising well into the lakhs for complex enterprise risk assessments; there's no published flat-rate plan or free tier.
