back Back

Onfido rolls out Face Authenticate and enhanced security tools for its platform

By Megha Bhattacharya

May 27, 2021

  • America
  • Onfido
Share

Onfido logoOnfido, the customer identity verification and authentication provider, announced Onfido Face Authenticate, adding a seamless biometric face authenticator as well as new security tools, including Onfido Private Key Encryption, to its Real Identity Platform. The company said that the new product suite provides businesses with the high levels of assurance they need to prove their customers are who they say they are in a remote setting without compromising user experience or privacy.

“Identity fraud losses cost $56B last year as more businesses adopted a digital-first approach to customer onboarding, providing a larger landscape for fraudsters to attack,” said Alex Valle, Chief Product Officer at Onfido. “Onfido Face Authenticate, in tandem with our verification product, provides a more robust identity lifecycle solution for businesses, ensuring the people accessing online accounts are the same legitimate people who were verified at registration, without compromising user experience or privacy.”

Onfido’s Real Identity Platform, comprises Verify (document and facial biometric onboarding) and Face Authenticate (biometric face authentication). These allow companies to safely onboarding new users for Know Your Customer (KYC) or compliance purposes by providing a safe and frictionless way for trusted users to re-access existing accounts within seconds and unlock new revenue opportunities for digital products and services.

Onfido Face Authenticate leverages class-leading, 3D Face Liveness Detection AI during user authentication. Compatible with iOS and Android devices, tablets and PCs, users simply take a three-second video selfie. Onfido then recreates the 3D shape of the user’s face and matches it to the biometric data provided when their real identity was established at registration, enabling repeat access at high-risk or high-value moments.

Recently, Volkswagen Financial Services teamed up with Scrive and Onfido in a bid to launch its next-generation digital financial solution for UK dealerships. The new collaboration will see Scrive’s electronic signature service and Onfido’s digital identity verification services integrated into the financial services company’s process. The partnership is expected to simplify the process of customer identity verification and signing financial agreements.

Previous Article

May 27, 2021

BNY Mellon unveils new e-bill solution; embarks digital bill-pay revolution

Read More
Next Article

May 27, 2021

Tavant partners with Hay Group to expand into Australia

Read More










IBSi Daily News Analysis

FinTech, future, trends

December 08, 2022

America

Here’s how the FinTech landscape looks like for 2023

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

December 08, 2022

NetGuardians launches Community Scoring & Intelligence Service

Read More

December 07, 2022

Swiss Digital Bank Alpian selects Napier for Financial Crime Compliance

Read More

November 29, 2022

4 RegTech companies reducing compliance burden in Ireland

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022