News

Mode selects Onfido to compliance and user experience

Wednesday 12 February 2020 08:56 CET | News

Mode, a British mobile banking app for investors to buy, store and manage Bitcoin, has teamed up with Onfido, a global identity verification provider.

The partnership enables Mode’s mobile application to verify and connect UK and European citizens to the Bitcoin market. Plus, through the new partnership, Mode expands its network of financial technology partners, each sharing Mode’s core values.

By using Onfido’s AI-enabled verification technology, during its customers’ onboarding and 'Know Your Customer’ (KYC) process, applicants take a photo of their government-issued ID and a selfie; Onfido checks the ID seems genuine and matches it to the user’s face. This ensures the person presenting the identity is its legitimate owner and is physically present.

In addition to identity verification, Mode has worked with Onfido to automate the address verification process. This will reduce the need for Mode customers to navigate complicated onboarding procedures, providing a frictionless user experience, according to the official press release.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: mobile banking app, Bitcoin, KYC, identity verification, Onfido, document verification, AI
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: United Kingdom
This article is part of category

Securing Transactions