New partnership shapes Know Your Customer industry, modernising identity and entity verification for fast, secure and convenient checks.
Onfido, the global identity verification platform, today announced a strategic partnership with Entify, a leading one-click legal entity verification solution. The announcement reflects Onfido's growing presence in Eastern Europe and continued commitment to enabling enterprises with Digital Access as a Service (DAaaS) that encompasses digital registration, identity verification, and re-authentication solutions.
Entify selected Onfido to automate identity verification, improving pass rates and accuracy while reducing fraud. Entify's automated solution verifies all identities connecting to a business, including key individuals and associated legal entities, while Onfido's AI-powered identity verification technology checks the person is who they say they are. Users are asked to take a selfie and a photo of their identity document, and then Onfido checks the government ID seems genuine and matches it to the user's face. This ensures the person presenting the identity is its legitimate owner and is physically present.
The partnership means enterprises can identify users representing legal entities and verify their documents for KYC (Know Your Customer) and KYCC (Know Your Corporate Customer) efficiently and effectively while remaining compliant. Manual identity and document checks are time-consuming, inconvenient and costly to businesses. It also leaves businesses at risk of human error. An automated approach using innovative document analysis and biometric technology enables organisations not hindering them to reduce onboarding time from weeks to minutes, improve end-user experience, and reduce fraud exposure.
"As Entify continues to grow in Europe and begins to expand in the US, we needed a partner who can scale with us while providing the highest of standards. Onfido has helped shape our verification process so that we have been able to accelerate growth," said Neeme Org, CEO of Entify. "Our partnership is pivotal to changing the KYC and KYCC industry by making the verification process convenient for both experts and novices all over the world."
"We're seeing an increasing demand from businesses wanting to simplify the digital customer journey and improve pass rates while simultaneously detecting fraudulent attempts. This new partnership arms customers with exactly that," said Husayn Kassai, CEO and cofounder at Onfido. "Entify can reach 192 countries opening their business to a global audience with Onfido, providing a fully automated solution that is fast, efficient and globally accessible. This is our latest partnership in Estonia as we continue to displace older methods in the market. Four other businesses in Estonia have already followed Entify and have also become clients of Onfido."
About Onfido
Onfido is building the new identity standard for the internet. Our AI-based technology assesses whether a user's government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That's how we give companies like BBVA, Zipcar, and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access.
For more information, visit: onfido.com or follow Onfido on social media:
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About Entify
Entify provides a fully automated 'know-your-customer' solution to the businesses whose clients and partners are other businesses. The Entify solution enables companies to get acquainted with the regulations for the prevention of money laundering before starting business relationships and in the course thereof and to prevent fraud. Today, Entify is used in such areas as production, factoring, payment and crypto, investment, and insurance companies. For more information, visit: entifyme.com or follow Entify on social media:
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191218005039/en/
Contacts:
Laura Noye
laura.noye@onfido.com
