Onfido partners with Bondora, Voima Gold, EstateGuru

By Sunniva Kolostyak

Identification and authentication specialist Onfido has announced partnerships with Bondora, Voima Gold and EstateGuru to manage identity verification and ensure Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance.

The three companies expand Onfido’s customer base in the Eastern European and Nordic regions, following the firm’s 40 per cent increase in global sales and $100 million funding round.

Husayn Kassai, CEO and Co-Founder at Onfido “Eastern and Northern Europe is a hotbed for tech start-ups, especially FinTechs, and in order to thrive in a competitive market, these companies are transforming their approach to digital identity and access. With modern identity verification, forward-thinking organisations such as Bondora, Voima Gold, and EstateGuru are automating the most rigorous compliance requirements with a simpler and faster customer experience. We’re pleased that they’ve switched to us as their partner and look forward to being able to help them scale their businesses.”

Peer-to-peer lending platform Bondora will use Onfido’s tech to streamline the onboarding and KYC processes to its 125,000 investors across 37 countries. Voima Gold, a Finnish FinTech which offers gold-backed digital accounts for global clients, allows customers to securely buy, sell, and store physical gold, now with remote onboarding and fraud mitigation. EstateGuru, the Pan-European marketplace for property financing and investing, partnered with Onfido to automate KYC and AML compliance processes, creating a secure, yet frictionless user experience.

Commenting on the partnership, Matt Clannachan, VP of Product at Bondora, said: “We want everyone to experience the benefits of investing. That means giving more people, in Europe and beyond, a simple way to grow their money. We’ve had significant growth over the last 12 months, and the only way to consistently exceed customer expectations is by utilizing automation for scalability. Through our partnership with Onfido, we can offer our customers a secure and seamless experience for identity verification.”

Joonas Ilmasti, Legal Counsel at Voima Gold, said: “Our vision is to oversee and manage capital for generations to come. We can do this by offering secure gold-backed Voima Accounts. Our clients come from around the world, and in order to provide Voima Accounts for global clients, we need to securely identify each customer. We are glad that Onfido provides us with seamless identity verification that enables us to comply with our high security and compliance risk management standards.”

Mihkel Stamm, COO at EstateGuru, commented: “90 per cent of EstateGuru’s core processes are digitised, making the company agile and efficient. The application of AML measures and KYC principles is an unavoidable part of being a sustainable alternative financing platform, creating trust and serving clients from different parts of the world. We offer something unique that other financial institutions cannot provide – a seamless, cross-border and digital service for borrowers and investors; and with Onfido’s innovative technology, we’re able to enhance compliance and safety, ultimately bringing a great digital experience to our users.”