Onfido signs identity verification partnership with WorldRemit

By Oliver Smith on Thursday 21 May 2020

Digital Banking

The technology will be tailored to WorldRemit customers who often have lower spec smartphones and cameras.

Onfido signs identity verification partnership with WorldRemit
Image source: Husayn Kassai/Onfido.

Just a month after clinching a $100m fundraise, ID verification group Onfido has sealed a partnership with online money transfer service WorldRemit.

The move, announced this morning, will involve Onfido automating WorldRemit’s KYC process with the kind of document and face scanning that is fast becoming commonplace.

“International payment transfers shouldn’t have to be costly for businesses and complex for users,” said Onfido CEO and co-founder Husayn Kassai.

“We’re delighted to be helping the company streamline their processes to get new users onboard swiftly and securely, while meeting strict compliance regulations.”

In addition, Onfido’s technology will give WorldRemit customers, many of whom live in developing countries with lower spec smartphones and cameras, granular feedback on how to improve the lighting conditions and orientation of their photos in order to pass verification.

In April Onfido raised $100m in a round led by US investment giant TPG Growth.

At the time Kassai told AltFi that he expects healthcare will be Onfido’s next big industry to crack, helping consumers to securely unlock their sensitive healthcare information.

“Only 1 per cent of the market has adopted this approach of remote identity verification, yet identity theft is the biggest crime in the world, and in this online world criminals can increasingly hide their identity.”

Partnering with WorldRemit might not fulfil that future, but it’s certainly another step in Onfido’s journey to global ID verification domination.

Sign up to the Daily Disruptor Newsletter