According to UK Finance, fraud is rapidly increasing around the globe, rising to GBP 1.4bn in 2021. At the epicentre of this growing problem is identity, with the report stating that nearly 40% of APP (Authorised Push Payments)-based fraud losses were down to impersonation schemes.
OneID’s integration with DocuSign seeks to help tackle this issue. The partnership wants to ensure that when an individual signs a document, their identity is securely verified using OneID’s identity verification technology which can authenticate the identity of all online banking users, equating to over 40 million UK citizens. It is important to note that its technology reduces friction by removing the need to build in additional checks and enabling people to prove who they are with a few clicks and within a few seconds, according to the official press release.
According to its CEO, OneID has initiated programmes addressing the issues of purchasing restricted goods by underage buyers, reducing fraud, and preventing social media abuse. Now, alongside DocuSign, OneID wants to improve safety measures for eSignatures on important documentation to protect consumers and businesses from impersonation fraud and scams, the press release states.
With DocuSign eSignature, users can securely send and sign documents from almost anywhere in the world, with current customers including LinkedIn, AstraZeneca, and Unilever. Its most recent integration with OneID into their customer journey will improve the safety measures for its UK users. OneID enables individuals to verify their identity in a way that is secure and provides bank-verified data. It requires no registration process, does not store any personal data, and removes the need for scanning passports or taking selfies to authenticate your identity online, according to the company.
OneID is a government-certified, UK-based identity tech company that wishes to make it easier for people to prove who they are online by accessing bank-verified and secured data. The company’s technology can authenticate the identity of all users of online banking – over 40 million people in the UK – in a way that is secure, regulated by the Financial Conduct Authority, and certified by the DCMS Digital Identity and Attributes Trust Framework.
It aims to be the first privately funded public utility and is dedicated to having a positive social impact which is visible through its commitment as a certified B-Corporation, the official press release concludes.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now