Through this acquisition, Onfido wants to change the way digital identity works by implementing a ‘Verify Once, Share Anywhere’ system. While the company is looking to apply user-controlled digital identity to financial services, other use cases are also being explored. The 'Verify Once, Share Anywhere' digital identity system allows customers to manage their own digital identity stored on their smartphones. In essence, once verified, people can use this identity to access new services without having to verify it again.
The Airside Digital Identity App was designed to help users store their verified digital IDs on their devices in a secure and easily accessible form. With this system, accessing services no longer requires physical identity documents (IDs) or the sharing of personal information. Users can verify their identities once and share only what they need to, such as a date of birth for age verification purposes.
According to financefeeds.com, Airside’s Digital Identity has been used by more than 10 million travellers. Furthermore, the system has gained the trust of US government agencies such as the Transportation Security Administration. Onfido’s Real Identity Platform already has some experience in establishing trust between governments, businesses, and people. Their system was created to support easy onboarding experiences, customer authentication, KYC, and fraud protection.
In May 2023, Onfido has launched its Real Identity Platform services for Salesforce Financial Services Cloud customers. The launch allows Salesforce customers to activate identity verification in a matter of a few clicks to help drive onboarding efficiency together with Know Your Customer (KYC) compliance.
Specifically, Financial Services Cloud customers are received access to a suite of Onfido’s services, including its library of global identity verification tools, Studio, its identity orchestration product, and Atlas AI, Onfido’s anti-bias artificial intelligence software.
In January 2023, Onfido collaborated with business management software provider The Access Group and fintech Amiqus to provide identity verification for screening checks. The partnership was in line with the companies’ need for a global provider to automate identity verification in a seamless and secure manner, with Onfido set to support their candidate screening process, Right to Work, and DBS checks according to Digital Identity and Attributes Trust Framework by leveraging its Real Identity Platform.
Onfido’s biometric solution allows organisations to conduct identity verifications, allowing them to achieve Know Your Customer (KYC) and anti-money laundering (AML) compliance at scale, with the assurance of working with an accredited identity service provider (IDSP).
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