SalaryDost selects Onfido to power digital lending with trusted identity verification
- Lending , Authentication Technology
- 01.06.2020 11:18 am
Onfido, the global identity verification and authentication company, has announced a partnership with SalaryDost, a leading digital consumer lending platform in India, to provide identity verification with real-time live video checks to verify users and for a robust Know Your Customer (KYC) solution.
Onfido’s machine learning technology verifies the identities of new SalaryDost users signing up to the platform with a fast and smooth user experience. Applicants simply take a photo of their government-issued identity document (ID) using their smartphone and the AI-enhanced technology assesses if it seems genuine. Users then take a live video selfie and Onfido’s biometric analysis compares it to the ID to check it matches the user. The process automates the KYC process, securely verifying identities, and detecting fraud and spoofing attempts.
Founded in March 2018, SalaryDost aims to revolutionise the small loan market of India with its mobile-based application that provides access to bridge loans. The innovative credit scoring algorithm, customer profiling, digital discovery platform, and touchless workflows provide users with a digital experience that is fast and easy to use. The new partnership with Onfido enables SalaryDost to scale and meet regulations while allowing users to onboard securely with streamlined user experience.
“We are excited to be working with Onfido to leverage best in class intelligent technology to identify fraudulent attempts on our online loan applications,” said Mrityunjay Shahi, CEO and founder of SalaryDost. “We have been able to scale our risk processes by relying on a trusted partner like Onfido and look forward to scaling together with them in the future, offering customers a seamless online onboarding experience.”
"Businesses shouldn't have to choose between a smooth digital journey and strong fraud protection, and we're pleased to be helping SalaryDost achieve both," said Husayn Kassai, CEO and Co-founder of Onfido. "We bring trust to digital interactions worldwide, and we're excited to be partnering with an equally ambitious company. We pride ourselves on delivering an experience that's as rapid as it is robust, automating the KYC process to provide fast and easy access."