OneBanks announces partnership with Trust Stamp

By Megha Bhattacharya

OneBanks recently announced a partnership with AI-powered authentication company Trust Stamp. The partnership aims to boost support banks and their customers by expanding access to secure financial services and accelerating financial inclusion. Trust Stamp will integrate its privacy-preserving facial biometric technology into OneBanks’s customer authentication systems to provide a secure, low-friction banking experience.

OneBanks CEO, Duncan Cockburn, commented, “If there’s one thing we’ve learnt in 2020 – it’s that we need people. And we plan to do something really radical – by using new, advanced technology, we’re bringing banking back to people. Security and privacy protection were front of mind when we were developing our solution, but we knew we needed to combine that with a great customer experience. Trust Stamp have been able to provide us with that through their privacy-protecting identity token. We’re delighted to be working with them as we launch our service in the UK”.

Trust Stamp offers biometric identity solutions that reduce fraud, improve user experience and promote universal access to financial opportunity through enhanced accessibility. Their core technology preserves data privacy and security, while also providing a robust solution for identification in low-infrastructure, digitally and economically excluded communities.

Trust Stamp Chief Commercial Officer, Emma Lindley, commented, “To successfully drive a digital-first future that fosters equitable financial access, FinTech companies and traditional banks need to work together to address the needs of all existing and potential users, regardless of their individual footholds in the evolving digital transformation. Advanced banking tools that prioritise trust, security and privacy depend on accessibility to create a lasting impact in the future of finance.”

Recently, open banking solutions provider, Nuapay announced a partnership with OneBanks in a bid to enable financial inclusion for all. OneBanks will offer fully-manned, accessible kiosks in retail locations with limited or no banking facilities.