Onfido’s Biometric Selfie Authentication Drives Record Growth in APAC Region

Onfido is crediting the rising demand for online services for its record sales growth in the Asia Pacific region. The company posted year-over-year APAC growth of 174 percent in the third quarter of 2020, building on the comparable success it has enjoyed in the US and at the global level. The company’s global Q3 sales were up 82 percent, while its US sales jumped 237 percent in the same period.

Onfido, of course, is best known for its biometric onboarding solution, which allows a customer to verify their identity with a selfie and a photo of their identity document. The solution uses facial recognition to compare the selfie to the photo ID to make sure the two are a match. In doing so, it enables secure onboarding on mobile devices while allowing online merchants and service providers to comply with international Know Your Customer regulations.

Singlife, hoolah, and Instapay are some of Onfido’s latest customers in the APAC region. Singlife is a digital life insurance provider, while Instapay is an e-wallet that was designed to simplify payroll management and raise financial inclusion for underbanked employees. hoolah, meanwhile, is a credit service that allows people to pay for goods in installments. All three companies are using Onfido to secure their mobile apps, with Onfido noting that COVID-19 has created an urgent need for online services and accelerated digital transformation.

“It is essential that organisations can remotely identify their users online with the highest level of assurance yet still provide a fast and simple end-user experience,” said Onfido APAC GM Harvinder Singh. “We’re pleased to be helping companies in APAC achieve this – enabling them to transform the customer experience and continue to scale with increased customer demand.”

Onfido Co-founder Husayn Kassai recently stepped down as CEO. Mike Tuchen has been asked to take over to lead the company through an anticipated growth period.

–

December 1, 2020 – by Eric Weiss

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us