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Identity firm Onfido has partnered with global remittance company TransferGo.

Onfido’s machine learning-based identity verification technology will allow TransferGo to rapidly and securely onboard new users as it continues its global expansion.

Headquartered in London, TransferGo has more than 650,000 users. Through a combination of “superior technology and a very broad network of banking partnerships”, TransferGo now offers transfers between 47 countries worldwide, and this month became the first remittance company in the world to offer a cryptocurrency trading facility with customers now able to purchase and sell five major cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin.

With people frequently moving between countries and globalisation evident across all demographics, TransferGo have partnered with Onfido to help them meet the consumer finance challenges of today’s global citizens, securely and at scale.

Onfido’s machine learning technology automates identity verification to enable speedy, secure and scalable user onboarding. TransferGo users take a selfie and a photo of their identity document; Onfido’s technology then compares the two faces to ensure they are the same, and cross references the identity against international watchlists.

Daumantas Dvilinskas, CEO of TransferGo, said: “Onfido enables us to deliver the swift service our customers expect, without compromising on security. Their risk-based approach means we can confidently verify our users, and don’t have to add unnecessary friction where it’s not needed. Onfido’s support is imperative to our international growth, and we’re confident that they’ll continue to help us strengthen our position into the future.”

Husayn Kassai, CEO of Onfido, said: “We’re proud to be supporting TransferGo as they enter their next phase of growth. As a RegTech, we know how critical a smooth, secure and speedy onboarding process is for users, and look forward to helping TransferGo deliver that to new global markets and across new products.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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