UK FinTech WorldRemit adopts Onfido's face-scanning tech
UK FinTech WorldRemit has partnered with identity verification and authentication company Onfido.
The new partnership is hoped to make it easier and quicker for customers to open an account with WorldRemit, to send money abroad.
Partnering with Onfido is hoped to allow WorldRemit to further automate the Know Your Customer (KYC) decision-making process to verify the identification of customers.
WorldRemit said the partnership will also support its mission for financial inclusion on its platform.
Onfido’s face-scanning tech works with lower spec smartphones and cameras, and allows customers to try again or be prompted to alter their camera set up during the verification process.
The technology will also allow WorldRemit to alert relevant bodies to protect those who aren’t customers but may have had their ID stolen or tampered with.
Stephen Moffatt, director of payments at WorldRemit said: “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.
“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.”
Husayn Kassai, CEO and co-founder at Onfido added: “International payment transfers shouldn’t have to be costly for businesses and complex for users. We’re pleased to be supporting a forward-thinking remittance platform such as WorldRemit which strives to provide the best for its users.
“We’re delighted to be helping the company streamline their processes to get new users onboard swiftly and securely, while meeting strict compliance regulations.”