Onfido and WebID offer a new approach to identity verification to help banks, financial institutions, and other organisations comply with BaFin regulations, making customer onboarding compliant, secure, and easy to use. WebID and Onfido are partnering to enable live video verification for Onfido customers via their API. For customers, managing and sourcing multiple identity verification providers are being facilitated, enabling them to meet local compliance obligations and mitigate fraud risks.
Onfido's technology allows businesses to automate identity verification through an online experience that helps them comply with regulations, including KYC (Know Your Customer) and AML (Anti-Money Laundering). Onfido can perform checks in 195 countries and check more than 2,500 document types. They also recently announced the expansion of its Real Identity Platform as it gradually replaces the old identity verification methods in the market. The Onfido Real Identity Platform enables organisations to develop multiple workflows optimised for different market conditions, regions, and risk tolerance.
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