Bunq, Onfido expand partnership on digital onboarding

Thursday 12 December 2019 10:26 CET | News

Fraud Prevention and Online Authentication Report 2019/2020 Onfido, a global identity verification provider, has announced a renewed partnership with European challenger bank, bunq.Fraud Prevention and Online Authentication Report 2019/2020

Onfido will continue to deliver AI-powered identity verification and will expand to provide user re-authentication solution to bunq users. Applicants simply take a photo of their government-issued identity document (ID) using their smartphone and the AI-enhanced technology assesses if it seems genuine.

Users then take a video selfie and Onfido’s biometric analysis compares it to the ID to verify if it matches the user. The process detects fraudulent documents and spoofing attempts while providing legitimate users a frictionless onboarding experience, according to the official press release.

The challenger bank is expanding its partnership with Onfido for its user re-authentication solution for users looking to reset their passwords and resolve account lockouts. When high risk is detected around a customer account, Onfido lets users easily authenticate by simply taking a selfie.

bunq was founded in 2012 and is currently available in 30 European markets: the Netherlands, Germany, Austria, Italy, Spain, France, Belgium, Ireland, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, the United Kingdom and Norway and Iceland.

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Keywords: identity verification, KYC, digital onboarding, challanger banks, Bunq, Onfido, AI, selfie, document check, partnership, biometric
Categories: Fraud & Financial Crime
Countries: Europe
This article is part of category

Fraud & Financial Crime