Onfido Strikes New Deal in International Remittances

Onfido has a new client in the international remittances sector. The company’s biometric authentication technology will be used to onboard customers of WorldRemit, a UK-based specialist in online international money transfers.

It’s an apt partnership for a disruptive remittances service whose operations are 100 percent digital. Using Onfido’s technology, the company will allow customers to quickly open new accounts, with an improved onboarding experience for individuals using older and low-budget smartphones with less sophisticated camera systems.

The partnership will also help WorldRemit to meet Know Your Customer requirements, as an FCA-regulated company.

“Our new partnership with Onfido is an important step for us in reducing friction, helping new customers join our platform faster so they can send money home,” explained WorldRemit payments director Stephen Moffatt in a statement announcing the partnership. “As part of our constant efforts to improve and refine our customer experience, adding Onfido’s functionality to our registration process will ensure that we can put our customers on the happy path of sending money home, while protecting them from fraudsters.”

For its part, Onfido’s CEO, Husayn Kassai, said his team is “pleased to be supporting a forward-thinking remittance platform such as WorldRemit which strives to provide the best for its users.”

News of the partnership arrives after Onfido’s announcement last month that it had raised $100 million in a new funding round, opening the door for the company to explore new use cases for its identity verification technology. The company will bring its expertise in this area to an upcoming expert webinar hosted by FindBiometrics and Money20/20 Europe that will focus on “Building Invincible Trust Chains with Strong Authentication and ID Verification“.

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