Veriff Partners with SonoSuite to Mitigate Fraud Risks and Protect Music Assets
Collaboration safeguards integrity of the digital music distribution process with identity verification solution
NEW YORK, May 21, 2024 /PRNewswire/ -- Veriff, a global identity verification (IDV) provider, today announced a strategic partnership with Sonosuite, the white-label SaaS digital technology provider for the music industry. The partnership will empower SonoSuite's label and distributor customers with an identity verification technology that mitigates the risks of ID fraud and helps keep their music assets secure, promoting trust and confidence across their platform.
Fraudulent activity is up 20% compared to the previous year, and given that 80% of fraud is financially driven, the music industry is feeling an impact as lost revenue to fraud adds up to billions of dollars. With this integration, SonoSuite customers will be more equipped to thwart bad actors from distributing fraudulent content and engaging in illicit activities within the independent music ecosystem.
"Armed with new AI-powered techniques, malicious actors are becoming more sophisticated, causing friction and undermining credibility along the customer journey," said Sebastián Mañana Lenzi, CEO of SonoSuite. "We're excited to partner with Veriff to provide our customers with cutting-edge technology that solves these challenges by streamlining the identity verification process and preventing fraudsters from gaining access before a costly event occurs."
"Our inaugural partner in the digital music services industry, SonoSuite is a frontrunner in this market and dedicated to leveling up users' safety," said Hubert Behaghel, CTO at Veriff. "With fraud events escalating, including unauthorized music distribution, fake streaming, and fraudulent royalties, identity verification is more critical than ever. We're eager to deliver support and foster more trust across the music industry, making the internet a safer place."
SonoSuite is a global, white-label SaaS solution that caters catalog distribution and royalty collection technology to a wide array of music businesses, connecting them with the world's Top Digital Music Services. Based in Barcelona, Spain SonoSuite is a digital company with more than 50 people located in Europe, the United States, and Latin America.
Veriff is the preferred identity verification platform partner for the world's most innovative growth-driven organizations. We provide advanced technology that combines AI-powered automation with reinforced learning from human feedback, deep insights, and expertise. Veriff is the partner of choice for organizations that need to rapidly and conveniently verify and safeguard users anywhere in the world. This is achieved by supporting the broadest number of identity documents, from more than 230 countries and territories.
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