OneID provides digital, real-time identity services between businesses and their customers in an efficient, cost-effective, and secure way. The company raised over GBP 16 million from more than 200 investors across the UK, Sweden, and the US to upgrade its operations. With the rise of fraud and the increasing demand for user-friendly experiences, secure online identity verification has become more important.
OneID offers services for customer verification using bank-verified data, enabling a document-free process that can be completed efficiently. The service prioritises privacy by requiring consent for data sharing and assists businesses in simplifying onboarding, increasing sales, reducing costs, and minimising fraud risks. Approximately 90% of adults in the UK who use online banking can utilise OneID, making it very accessible.
The UK Government's increased focus on digital identity has pointed the need for innovation in the industry. The Department of Science and Technology has proposed a Digital ID for age verification in conjunction with the Online Safety Act of 2023. This Act requires more than 100,000 online service providers to implement identity and age verification protocols. OneID’s bank-based identity and age verification solution ensures compliance with the Act while ranking user privacy.
OneID's identity service has access to bank-verified data, allowing around 50 million UK adults to use it for real-time verification. Government-certified and FCA-regulated, OneID is a BCorp based in the UK, uniting experts in digital identity, payments, and technology to increase safety. It enables quick and secure identity verification without registration, personal data storage, or the need for scanning passports or selfies.
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