Onfido Boosts Identity Verification Solution to Make KYC for Financial Services Even Easier

Onfido Boosts Identity Verification Solution to Make KYC for Financial Services Even Easier
25.10.2016 08:15 am

Onfido Boosts Identity Verification Solution to Make KYC for Financial Services Even Easier

Security , AML and KYC

Onfido, the leading Identity Verification provider, will be showcasing enhancements to its machine-learning solution at Vegas Money 20/20 this week. Onfido’s newly-launched Software Development Kit (SDK) makes it even easier for customers to use its next-generation identity verification platform and verify that their customers are who they claim to be without needing to meet them face-to-face.

Onfido’s proprietary SDK is designed to enhance its existing remote identity verification solution by making image capture easier and more efficient. With Onfido, users wishing to be onboarded to a financial services platform simply take a selfie and a picture of their ID document, both of which are then submitted to Onfido via API for verification. Housed inside the existing solution, the SDK helps verify image quality at the point of capture, reducing the risk of fallout and the need for expensive manual review.

Founded in 2012 by three young entrepreneurs from Oxford University, Onfido has received over $30m in funding from investors including Salesforce Ventures, CrunchFund, and Idinvest Partners. The company offers KYC compliant identity verification to financial service companies, who chose Onfido for their match rates, fraud detection, flexible API and end-to-end service. The SDK is the latest addition to its robust solution, and is offered either as a web-based or native app, allowing users to submit documents from their desktop (via the JavaScript SDK), Android or iPhone.

Onfido CEO, Husayn Kassai, said: “Collecting data from applicants in order to perform Identity Verification can be an arduous process, as poor quality images or the wrong documents are uploaded; with the SDK, these issues are avoided, improving the robustness and speed of Onfido’s checks, and allowing you to seamlessly onboard more users in a fraction of the time.”

Onfido is trusted by a variety of leading fintech businesses worldwide – including GoCardless, Nutmeg, Monzo Bank, Pockit and Lendinvest – as well as reputable crowdfunding platforms, such as Crowdcube and JustGiving.

For more information on Onfido’s Identity Verification solution for financial services, or to see a demo of the SDK, visit Vegas Money 20/20 stand 1249.

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