Onfido

Name of the product or service

Onfido Real Identity Platform

Votes: 1

Product or service description

Onfido has a simple mission: Simplify identity for everyone.

In the digital age, identity is everything. The ability to prove who you are is critical to accessing any number of services — from renting a car, to accessing critical banking tools or private healthcare information. Companies depend on establishing trust, and individuals need a way of creating it.

Onfido’s Real Identity Platform is a game-changing cybersecurity solution that works to keep companies and their customers safe through digital identity verification.

Distinction from the competition

The Real Identity Platform provides fully automated identity verification and authentication at global scale, with 95% of checks completed in less than 10 seconds — all made possible through Onfido Atlas™, our best-in class AI built on top of 10,000 micromodels.

Unlike many others in the space, Atlas AI was built in-house over the last 10 years, as we’ve partnered with businesses from around the world to provide diverse datasets.

The result? An AI system that’s fair, fast, and accurate. Over the last few years, we’ve zeroed in on eliminating biases within our models, most recently partnering with the UK’s Information Commissioner’s Office (ICO) to determine a framework for measuring and mitigating bias. At Onfido, we examine all the potential sources of bias, not just the technical sources from the data and machine learning models, but from the humans involved as well.

Product or service innovations

This year, Onfido rolled out Onfido Studio as part of its Real Identity Platform launch. Onfido Studio is our powerful journey-time orchestration system that allows end-to-end customization and optimization with multiple identity verification flows in a simple, easy to use no-code solution.

By just dragging and dropping a few modules, Onfido users can create their own workflows that build and manage multiple identity verification signals to meet customer and market requirements. Onfido Studio allows you to orchestrate verification flows using the entire verification suite and flexible, no-code workflows.

The Real Identity Platform pulls from and integrates with a large library of globally trusted data sources and identity verification services. Users can build workflows that cross reference the following: Watchlist (PEPs and Sanctions), Ongoing Monitoring, ID Record Check, AAMVA (American Association of Motor Vehicle Administrators), Tax ID (India), Social Security Number (US), and Proof of Address.

The Verification Suite also adds in cutting edge fraud detection verifiers including IP and geolocation signals; device integrity signals, which look out for emulated or remotely controlled devices; email risk signals; and Known Faces, a product that compares new applicants’ facial biometrics to existing users to detect fraud.

When combined with the analytics provided by Studio, users can see in real-time how their onboarding flow is functioning.

Customer case study

Chipper Cash are on a mission to enable safe and secure financial services for underserved communities, driven by the belief that sending money back home or across town should be a pain-free experience for everyone in today’s modern digital economy.

Traditional money transfer options available in Chipper Cash’s core markets create unnecessary friction, due to complex, cumbersome, and expensive processes. The Chipper Cash team experienced these challenges first-hand, and set out to help people just like them overcome the challenges associated with sending money to friends and family. Chipper Cash is today offering an app-based service that provides a fast, free, and seamless way to send money abroad.

Chipper Cash needed an experienced identity partner capable of stopping fraud techniques such as synthetic IDs. And they wanted a partner that could process a variety of documents across the African market at scale.

Onfido’s identity verification technology is streamlining operations, confidently adding new users, and accelerating the approval workflow process. With Onfido, Chipper Cash reduced the time to onboard and verify a customer by 35%, to just a few minutes, helping the business grow in line with their ambitions. https://onfido.com/customer/chipper-cash/

Positive feedback & testimonials

Online banking service, Revolut, needed to scale but were experiencing high user enrolment and authentication abandonment and complaints due to a frustrating user experience. With Onfido's solution using Onfido’s Smart Capture, Revolut saw a dramatic customer onboarding success rate increase by nearly 15%, yet saved 3,500 hours each week.

Website

http://onfido.com


Winners of E-commerce Germany Awards 2022

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