Find Your Path at FinovateEurope Digital

Find Your Path at FinovateEurope Digital
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It’s hard to plan ahead right now. We don’t know when we’ll be gathering in large numbers again, what work will look like next year, or when everything will reopen. But we do know that work still must be done: relationships maintained, customers satisfied, and new business brought in the door. 

FinovateEurope is here to help. We’ve structured our digital offering to provide meaningful networking opportunities; insightful, thought-provoking content; and exposure to new, innovative technology. All with the goal of helping you navigate these changing circumstances strategically and intelligently.

Here’s how to get involved:

Demo: We’ve retooled the demo experience for digital events. Greg Palmer, VP of Finovate, joins each digital demo to create engaging interactions. Moderated Q&A sessions follow the demos to help companies build relationships. And demoers walk away with 200+ leads on average. Learn more.

Sponsor: We have a whole host of new and exciting sponsorship opportunities on our virtual event platform. Lead capture, gamification, virtual networking, branded booths, and chatrooms, and more. Download the prospectus.

Startup Booster: These special tickets for startups cost just £199 for all three event days. Plus, we’re pulling together special content geared towards these early-stage companies. See if you qualify now.

Attend: Tickets are at their lowest price, £399. And there are deals for governments, fintech leaders, and 3+ attendees. Check it out.

Find your path forward at FinovateEurope Digital 2021 with any of these options and plan ahead with confidence.

Hot or Not? FinovateWest Digital Heat Checks Top Fintech Trends

Hot or Not? FinovateWest Digital Heat Checks Top Fintech Trends

How have the major secular trends in fintech been impacted by the COVID-19 crisis?

In his afternoon presentation at FinovateWest Digital, November 23 through 25, Jacob Jegher, President of Javelin Strategy and Research, will take a close look at which innovations in fintech are moving the needle in terms of boosting customer engagement, creating efficiencies, and helping financial institutions and financial service providers grow revenues.

Formerly Vice President of Global Solution Marketing and Head of Analyst Relations at FIS and, before that, serving for more than a decade as Research Director for Celent, Jegher brings a wealth of knowledge and experience in the banking technology industry. In addition to being widely cited in both mainstream and financial media – including The Wall Street Journal, The Globe and Mail, Bloomberg, and The New York Times – Jegher is a judge and coach at the Innotribe Startup Challenge.

“There are so many different pieces that (fintechs and financial institutions) have to watch out for in changing times,” Jegher told Finovate VP Greg Palmer during the Finovate Podcast earlier this year. “Pitfalls today include: how do you manage your budget and your cash flow associated with investment? What are you going to decide to keep pushing the envelope on and what’s going to get cut back? It’s just a realistic point of view given what’s taking place with company budgets – whether they are fintechs or financial institutions.”

To catch Jegher’s presentation at FinovateWest Digital – as well as the rest of our three-day, all-digital fintech event – visit our FinovateWest Digital hub and save your spot today. Take advantage of Early Bird discounts when you buy your ticket by November 13.


Photo by Will Worsham from Pexels

BlueVine Unveils Integrated Business Banking Solution for SMEs

BlueVine Unveils Integrated Business Banking Solution for SMEs

Small business banking solution provider BlueVine announced late last week that its BlueVine Business Banking offering is now generally available for small businesses looking for an integrated banking, payments, and lending solution. BlueVine Business Banking gives SMEs online services and tools to help them manage their finances, deposit checks, transfer funds, and make bill and vendor payments. The solution includes BlueVine’s Business Checking product, which the company said had seen “rapid adoption” by its customers during the recently-concluded beta testing period.

“Now more than ever, small businesses need simple, easy-to-use financial solutions, services, and guidance that support – not nickel-and-dime – them on their path to recovery amid the pandemic,” BlueVine CEO and co-founder Eyal Lifshitz said. “Over the last year, we have worked tirelessly behind the scenes to innovate and iterate on our BlueVine Business Checking product based on tremendous beta customer reception and feedback. We are thrilled to provide all small business owners with access to sign up for an account today, to help them achieve a better financial tomorrow.”

BlueVine Business Checking offers 1.0% interest on balances of $1,000 or more. Beginning this month, the company will offer 1.0% interest with no minimum balances – up to $100,000. The accounts include two free checkbooks, and no monthly ATM, NSF, or incoming wire fees. SMEs get unlimited transactions with no minimum balance requirements, and business owners can apply for the accounts in as little as 60 seconds.

BlueVine notes that more than 20,000 small businesses have signed up for the company’s Business Banking Accounts, which will also now feature BlueVine Payments. This enhanced billpay functionality enables businesses to pay vendors and bills from a directory of more than 40,000 common billers and registered payees – as well as setup their own payee. Businesses can pay by bank account or debit card, and the company’s payment is then sent to vendors by ACH, wire, or check. BlueVine added that payment by credit card is currently in beta testing.

The new product launch was also an occasion to announce a new partnership. BlueVine said that it has teamed up with fellow Finovate alum – and Visa acquisition target – Plaid to enable its small business banking customers to access external accounts when making payments or other transactions via the BlueVine dashboard. The partnership will also add BlueVine as a supported bank account on the Plaid Exchange Network.

Founded in 2013 and making its Finovate debut one year later at FinovateFall, BlueVine has raised more than $767 million in equity funding, most recently announcing a $102.5 million investment in November 2019. The company picked up a debt financing with Atalaya Capital Management that enabled them to secure a $75 million revolving credit facility in September. In August, BlueVine teamed up with DoorDash to help restaurant owners apply for Paycheck Protection Program (PPP) loans.

BlueVine’s participation in the PPP this year has been notable. The company said that it processed more than 155,000 emergency government loans for SMEs, valued at more than $4.5 billion, as part of the relief effort.

Ant’s IPO; SpyCloud Takes On Southern Europe; Icon Earns Strategic Investment

Ant’s IPO; SpyCloud Takes On Southern Europe; Icon Earns Strategic Investment

The biggest news in international fintech was the $34.5 billion pricing of Ant Group’s upcoming initial public offering. We covered the news earlier this week. The company will be making a dual IPO, offering half of its shares on Hong Kong’s Hang Seng, and the other half on Shanghai’s Star Market. The date for the Hong Kong IPO has been set for next week, November 5th. No date has been determined for Ant Group’s IPO on the Shanghai-based exchange.

The $34.5 billion target would represent a new record, topping the $29.4 billion raised by Saudi Aramco earlier this year in its IPO. Ant Group anticipates earning a valuation of more than $313 billion. This amount would rival that of most of the biggest banks in the U.S., with the only exception being JP Morgan Chase with its market cap of $434 billion.


On the European fintech front, a handful of Finovate alums have made headlines this week. Account takeover prevention specialist SpyCloud announced a partnership with Southern European-based information security solutions value-added distributor, DotForce. U.K.-based Icon Solutions, a payments technology provider, picked up a strategic investment from JPMorgan. In the Americas, FIS teamed up with Brazilian financial services firm Afinz to help the company enhance its private-label credit card processing capabilities. Meanwhile to the north, Toronto, Ontario, Canada’s Finn AI inked a deal with Michigan-based United Federal Credit Union to bring conversational chat to the firm’s 200,000 members.


Here is our look at fintech around the world.

Central and Eastern Europe

  • German business banking platform Penta partners with savings marketplace Raisin.
  • Lithuanian government authorizes new Centre of Excellence in Anti-Money Laundering.
  • German sharia-compliant banking app, insha, raises €2.5 million en route to planned U.K. launch.

Middle East and Northern Africa

  • Bahrain-based open banking platform Tarabut Gateway launches in the UAE.
  • Oman Banks Association urges lenders in the country to embrace fintech and open banking.
  • Turkish fintech Payguru introduces new pay by text message service.

Central and Southern Asia

  • Indian fintech GetVantage raises $5 million in seed funding.
  • Smart Engines partners with Alfa Bank Kazakhstan to power digital onboarding and online payments.
  • PhonePe, an online payments company based in India, announces availability as a payment option at more than two million locations in Maharashtra.

Latin America and the Caribbean

  • Risk analytics software company Provenir partners with Mexico’s Estudia Mas to automate and digitize risk decisioning for education loans.
  • Visa to acquire YellowPepper, a company that supports Latin American and Caribbean financial institutions and startups.
  • Real-time financial data aggregator Afterbanks begins operations in Mexico.

Asia-Pacific

  • Rapyd launches its “all-in-one” payment capabilities in South Korea courtesy of a partnership with local PSPs.
  • Hong Kong-based virtual bank Mox onboards 35,000 customers in its first month of operation.
  • TechinAsia looks at the “brutal” competition in the Vietnamese e-wallet market.

Sub-Saharan Africa

  • Evolve Credit, a Nigerian loan and financial product marketplace, raises $25,000 in funding from Nigerian VC firm Microtraction.
  • Fintech infrastructure platform Nium announces expansion into Africa.
  • Two South African fintechs, B2B digital lender Lulalend and biometric digital identity company Paycode, earn recognition by the 2020 Inclusive Fintech Awards.

Photo by Poranimm Athithawatthee from Pexels

The Finovate Fintech Fulltime Review

The Finovate Fintech Fulltime Review

07 – 11 December 2020 | Register now

Reviewing critical challenges and opportunities in the fintech industry across 2020. With a specialized focus on the latest in lendingtech, bankingtech and customer experience.

Join Finovate for a week of webinars, thought-leadership and video interviews, all accessed online for free.

Here’s a snapshot of what’s to come…

All Finovate Fintech Fulltime Review registrants also get access to the Fulltime Review eMagazine at the end of the week, featuring key session recordings from FinovateFall Digital and FinovateWest Digital, plus an exclusive discount to Finovate events in 2021. 

Log in from the comfort of your desk anytime and choose the content that suits you. Get involved now >>

Embedded Banking Specialist Wise Raises $12 Million

Embedded Banking Specialist Wise Raises $12 Million

Embedded banking-as-a-service platform Wise secured $12 million in funding this week. The investment is its second one this year – Wise announced a $5.7 million seed round in April – and was led by e.ventures with participation from Grishin Robotics. The company, which made its Finovate debut last year at FinovateFall, said in a statement that the capital will be used to help fuel growth and accelerate partnership-building in a number of verticals. Wise now has raised a total of $18 million in equity financing.

“We built banking so our partners don’t have to,” Wise CEO and co-founder Arjun Thyagarajan said. “By embedding banking, Wise unlocks deep product offerings and better customer experiences for our partners. e.ventures built a thesis on exactly this, and we agree 100%.”

Wise offers an embedded banking experience that gives small businesses a seamless way to bank, as well as make and accept payments. Companies partner with Wise and leverage its all-in-one business banking solution to offer accounts to their own clients such as e-commerce platforms and marketplaces. In addition to providing a fully-hosted and fully-serviced banking experience, Wise helps companies bridge the gap between what they have traditionally received from banking services and what e.ventures partner Brendan Wales called “an Apple-like experience” brought to the world of business banking.

“Business banking has been broken for far too long. Poor user interfaces, payments delays, unnecessary fees, a lack of integrations, the list goes on and on,” Wales said. Now, cloud-based B2B companies can offer banking services in a matter of days with no coding involved and have the entire operation managed and maintained by Wise.

Wise demonstrated its small business-banking-in-a-box solution at FinovateFall 2019. A Techstars NYC company based in San Mateo, California, Wise was founded in 2018. Check out our profile of the company from earlier this year.


The Evolution of Payments Fraud

The Evolution of Payments Fraud

Fraudsters are taking advantage of the increased number of transactions taking place online in today’s pandemic environment. Thanks to this shift, along with other recent payment trends like BNPL, the digital payments environment looks a lot different than it did just a year ago.

To get a better idea of the specific changes that have taken place, as well as those that have yet to come, we spoke with Vesta CIO Tan Truong. In our conversation, Truong offers his insight on recent payment industry trends, provides advice for merchants, and offers tips on how banks can help their small business clients fight payments fraud.

What recent changes have you seen in the payments space, and what changes do you foresee in the sector next year?

Tan Truong: The pandemic has really supercharged the acceleration of e-commerce growth – by some analyst accounts, the industry has jumped about five years ahead of its already steep growth trajectory. Total online spending in May, at the height of the pandemic, was up 77% year-over-year. But even many brick-and-mortar sales are no longer traditional in-store purchases, thanks to the rising popularity of curbside pickup options that allow consumers to make a purchase online and have merchandise dropped right into their car by a sales associate within minutes.

Unsurprisingly, fraud has also skyrocketed as consumers and retailers both look to prioritize health and safety by embracing contactless transactions. Some researchers are projecting that retailers will lose about $130 billion in revenue due to CNP fraud between now and 2023.

Buy Now Pay Later (BNPL) is the newest trend in payments. What type of risk management is required in this new frontier?

Truong: Buy Now Pay Later has seen incredible traction in markets like Australia and Latin America, but it has only recently started to take off here in the U.S., particularly among Gen Z shoppers.

One big area of risk here is around disreputable or fraudulent vendors taking advantage of the companies that offer BNPL services. If they haven’t properly identified whether it’s a legitimate or illegitimate merchant, they could easily fall victim to a scheme where a fake merchant submits falsified orders using stolen consumer PII, then collects payments for products it allegedly sold but did not ship. Since BNPL vendors assume the risk on these transactions, they would be left holding the bag.

In terms of risk for merchants, regardless of the payment method it is crucial that merchants follow established best practices to remain one step ahead of bad actors. There are several key areas they should be focused on to eliminate fraud and increase approvals:

  • Prioritize Anomaly Detection: Look for obvious irregularities in ordering habits which may suggest that a buyer is exploitative. These may include orders placed late at night during hours when customers are unlikely to be active, and orders for a high quantity of a specific product or at the upper end of the price scale.
  • Conduct a Digital Footprint Assessment: The four pillars of the digital footprint – device, IP, phone, and email – can provide crucial signals to understand the origins of a payment. For example, the lack of geolocation information or a mismatch between distances from the billing address to the IP geolocation can be a key indicator of fraud. Likewise, email addresses which are either linked to no-name providers or uncommon email hosting firms can be a bad sign, as can those that do not actually feature the name of the buyer. Email addresses that are just a string of letters and numbers are often a sign of randomization, a tactic often used by fraudsters to make identity detection difficult. Also keep a close eye on a customer’s phone number, since having multiple numbers associated with a single device can be a red flag.
  • Implement Data-Driven Machine Learning Strategies: Use fraud prevention tools that can build upon features and profiles targeting a range of factors – like user behaviors, session information, order history, and key attributes like products purchased, order amounts, times those orders were placed and shipping address. This is a much stronger approach than employing a rules-driven reactive strategy.

What are some things most merchants don’t think about when it comes to payments fraud?

Truong: Too many merchants are so hyper-focused on the idea of preventing fraud altogether that they hurt themselves in the long run. Nearly every merchant knows what their fraud rate is, but relatively few know their approval rate or understand the relationship between the two. A very low fraud rate isn’t necessarily a good thing. Depending on how the merchant got there, it may indicate that they are rejecting a large number of transactions. Most merchants don’t know how much revenue they are turning away through their fear of fraud. A shift in perspective is needed.

Fraud is a serious problem, and merchants really have no control over its growth; they can only control their reaction to it. If they are preventing fraud by rejecting any transaction where they’re not 100% certain of its legitimacy, there’s a very high chance they are suppressing revenue and turning away many genuine customers. False declines are a lot more damaging than many merchants realize. According to a recent report from Sapio Research, 33% of U.S. consumers said they would never again shop with a particular merchant if that merchant had falsely declined their payment.

Throttling questionable transactions is short-term thinking: it puts undue pressure on profit margins, reduces sales revenues and the number of good transactions accepted, and negatively affects customer loyalty and brand reputation.

How can banks help their small business clients in fighting payments fraud?

Truong: E- and m-commerce were supposed to be the great equalizer for small and midsized merchants, but they have been hardest hit by fraud as they are unable to match the spending power of larger companies who spend about $4 fighting fraud for every $1 of fraud committed. As a result, many smaller merchants combat fraud primarily by not approving any questionable transactions – an approach that inevitably has them leaving revenue on the table.

Banks can help their small business clients by incentivizing them to find and implement anti-fraud technologies that will go beyond limiting their fraud risk and help them prioritize maximizing revenues.

Vesta recently teamed up with data network provider Plaid. Tell us how this partnership can reduce nonsufficient funds.

Truong: Plaid provides a secure connection between consumers’ banks and the fintech apps they want to use, so the integration was a really important step for us. It allowed us to launch a Guaranteed ACH product that enables automated clearing house payments while reducing fraud and fees incurred from non-sufficient funds. Since Plaid is connected to more than 11,000 banks in the U.S., Canada, and Europe, the real-time visibility they provide allows us to get an accurate sense of a customer’s account status, minimizing a merchant’s risk around fraud or just bad budgeting on the behalf of a consumer.

Merchants have been very reluctant to accept ACH payments due to the time it takes to settle charges and increased risk of fraud involved. At the same time, ACH payments cost significantly less to facilitate than credit or debit card purchases – a gap that is especially eye-opening for large purchases. For example, a $5,000 transaction could cost the originator anywhere from $0.25 to $5 when made with ACH, or $90 if made with a credit card.

So the partnership with Plaid enabled our Guaranteed ACH offering, which in turn addresses two of the major barriers to broad adoption of ACH payments – speed and trust. It also opens up opportunities for millions of Americans with bank accounts but no payment cards to be able to shop online.


Photo by Azamat E on Unsplash

Icon Solutions Lands Strategic Investment from JP Morgan

Icon Solutions Lands Strategic Investment from JP Morgan

U.K.-based payments technology provider Icon Solutions is getting a boost today from U.S. banking giant JP Morgan in the form of a strategic investment.

The amount of the investment, along with specific terms of the deal, remain undisclosed.

“We’re excited to support Icon with this strategic investment as they look to continually build a simplified, collaborative payments ecosystem, driving emerging payments rails and innovation,” said Sara Castelhano, EMEA Head of Payments, Digital, and Solutions at JP Morgan Wholesale Payments.

As part of today’s deal, Icon has added Castelhano, to its Board of Advisors.

Icon will use the funds to expand development of its Instant Payments Framework technology, a collaborative, open source payments platform that helps clients process instant payments.

To facilitate these instant payments for U.S. clients, Icon has teamed up with The Clearing House to offer an accelerated route to accessing The Clearing House’s (TCH) real-time payments system. The company has also partnered with Featurespace to facilitate integration and block fraud attacks at scale and in real time.

“We will directly benefit from the support, scale and insight of a global banking leader and one of the most visionary technology companies in the world, while retaining our flexibility and independence,” the company said in a blog post. “We can now accelerate our strategic roadmap, invest more in our technology and team, and expand our geographic reach.”

The investment comes at a pivotal time in the U.S. payments scene. The U.S. Federal Reserve is lagging behind the rest of the globe in launching a real-time payments and settlement service, anticipating a delay until 2024. As the current speed of payments fails to meet consumer expectations, which have evolved to demand the delivery of everything from messages to groceries in real time, private players are coming to the market with their own solutions.


Photo by Elena Putina on Unsplash

SpyCloud Brings Fight Against Account Takeover to Europe

SpyCloud Brings Fight Against Account Takeover to Europe

One week after being named a Gartner Cool Vendor in Identity Access Management and Fraud Detection, SpyCloud is back in the cybersecurity headlines. The company has forged a partnership with DotForce, a leading value-added distributor for information security solutions in Southern Europe, to help businesses and government agencies in the region fight account takeover (ATO) attacks.

“SpyCloud has the most complete set of breach data assets in the world, making them the best partner to join our fight against account takeovers,” DotForce CEO Zane Ryan said. “These attacks can hit any organization at any time, and they are extremely expensive and time-consuming to resolve. With SpyCloud as our partner, we will be able to help organizations minimize the damage caused by ATO.”

Via the partnership, DotForce will enable its channel partners and managed security service providers (MSSP) to bring SpyCloud’s ATO prevention solutions to their customers. A Finovate Best of Show winner in its FinovateFall debut in 2017, SpyCloud specializes in detection and remediation of compromised accounts, helps identify and monitor supply chain exposure, and accelerates the fraud investigation process. The firm leverages human intelligence, data cleansing, and password cracking techniques to find exposed credentials faster, and has recovered more than 109 billion breach assets since inception.

“Account takeovers happen everywhere – criminals go where the money and data are, regardless of country,” Director of Sales, EMEA at SpyCloud Neill Cooper said. “We’re honored to partner with DotForce to help businesses in Southern Europe get proactive about protecting themselves.” In its statement, SpyCloud added that the cyberattacks and security breaches that are made possible by cybercriminals accessing stolen credentials cost businesses more than $17 billion a year and can continue for years.

SpyCloud’s partnership news comes just months after the company announced a $30 million Series C round that took its total funding to $58.5 million. Headquartered in Austin, Texas, SpyCloud counts Centana Growth Partners, Altos Ventures, March Capital Partners, Silverton Partners, and M12, Microsoft’s venture capital entity, among its investors.


Photo by Michael Zittel from Pexels

TikTok and Shopify Partner on Embedded Payments

TikTok and Shopify Partner on Embedded Payments

Short-form video sharing and social network app TikTok and commerce platform Shopify announced a partnership today that will offer Shopify merchants exposure to TikTok’s highly engaged users.

The integration will allow merchants to create and connect their TikTok business account and launch shoppable video ads directly within Shopify. The merchant simply selects the product they’d like to feature in the video and combine their existing imagery or video with a selection of pre-made templates designed for commerce.

“We are delighted to partner with Shopify and provide a channel for their merchants to reach new audiences and drive sales on TikTok,” said Blake Chandlee, Vice President of Global Business Solutions at TikTok. “As social commerce proliferates, retailers are recognizing that TikTok’s creative and highly engaged community sets it apart from other platforms.”

Shopify is using its Shopify Channels to help merchants promote their products using TikTok. Shopify Channels are sales and marketing channels that help merchants to connect with their customers via integrations with social media, entertainment, search platforms, and major marketplaces such as Amazon and Walmart.

“TikTok is one of the world’s fastest growing entertainment platforms with over 100 million highly engaged users in the U.S. alone,” said Satish Kanwar, Vice President of Product at Shopify. “The TikTok channel means Shopify merchants—even those without a strong TikTok following of their own yet—can connect with these new audiences using content that feels authentic and genuine to the TikTok experience.”

As part of the partnership, Shopify and TikTok have teamed up to allow users to spotlight their favorite Black-owned businesses using the hashtag #ShopBlack. The campaign, which runs from November 10 to 15, will highlight products from more than 40 Shopify merchants.

Shopify’s TikTok channel is now available in the U.S. The company plans to launch it in additional markets throughout North America, Europe, and Southeast Asia in early 2021.


Photo by Olivier Bergeron on Unsplash

FinovateWest Digital 2020 Debuts Demo Breakout Sessions

FinovateWest Digital 2020 Debuts Demo Breakout Sessions

As Finovate continues to make the case that “The Future of Finance is Digital”, we also strive to find new ways to make it easier for fintech’s most promising entrepreneurs – and the VCs, banks, and fellow fintechs that love them – to network and make meaningful connections at our in-person and all-digital events.

This November at our upcoming all-digital fintech conference, FinovateWest Digital, November 23 through 25, we will feature our latest networking innovation: hosted breakout sessions that give you up close and personal access to the leaders and founders of our demoing companies.

Led by our analysts and staff, FinovateWest Digital’s Demo Breakout Sessions will be held on all three days of the conference, with two sessions on Monday and Tuesday, and one session on Wednesday. These sessions will feature our demoing companies, in conversation with our analysts, who will be on hand to facilitate a lively Q&A with our attendees. The breakout sessions will begin immediately after the demo sessions, and offer unprecedented access to the men and women behind our demoing companies.

Who are the customers whose preferences are driving innovation in customer experience? What are the pain points fintechs are solving for their partners? What is it like to launch a fintech startup in the current environment of COVID-19 and digital transformation?

Go behind the scenes with our demoing companies. Visit our registration page today to save your spot and join us at our all-digital fintech event, FinovateWest, November 23 through 25.


Photo by cottonbro from Pexels

How One Identity Firm Used Partnerships to Grow its Business

How One Identity Firm Used Partnerships to Grow its Business

Identity verification and authentication provider Onfido has provided a guiding light when it comes to digital identity in 2020 and the company’s Q3 sales results can back it up.

Onfido’s global sales increased 82% over the course of the third quarter. The company also doubled the number of sales from its 103 new clients. Overall, Onfido saw a 237% increase in U.S. sales during the third quarter and attributes the growth to new customers switching from other providers.

Aiding Onfido’s success is its decision to partner with Identity Access Management (IAM) companies to spur demand for enterprise-level customers. Some of the company’s marketing plays in this area include hosting an e-voting roundtable with Okta, integrating into Auth0’s Marketplace, and listing on the Salesforce AppExchange.

Additional key partnerships for Onfido this year include:

  • Alior Bank partnered with Onfido to power digital onboarding.
  • ​Hub City Media partnered with Onfido to resell and distribute Onfido’s identity verification and authentication services.
  • Deliveroo expanded its partnership with Onfido to accelerate its onboarding process for drivers.
  • Curve partnered with Onfido to enhance its Digital Identity and Know Your Customer (KYC) processes.
  • SwissBorg partnered with Onfido to provide a compliant customer onboarding experience.
  • Delfin Health partnered with Onfido on its app that predicts, monitors, and tests the health and safety of workforces.
  • MyCash partnered with Onfido to power digital onboarding.
  • Bondora partnered with Onfido to streamline its onboarding and KYC processes.
  • Voima Gold partnered with Onfido to allow customers to securely buy, sell, and store physical gold.
  • EstateGuru partnered with Onfido to automate KYC and AML compliance processes.

Onfido leverages the power of machine learning and AI to help companies cross-verify users’ identity documents with a live biometric of their face. The company can verify more than 4,600 document types from 195 countries.

“Our mission is to create a more open world, where identity is the key to access. This starts with widening access, creating opportunities for everyone to connect with the services they need and making sure that it’s as inclusive as it can be,” said Husayn Kassai, CEO and Co-founder of Onfido. “We made significant strides over the last quarter to make our product offering not only more conducive to enterprise-level organizations, but also fairer when it comes to verifying people from different ethnicities. We believe these changes will only accelerate our growth further.”

Onfido most recently showcased its technology at FinovateFall 2018, where it debuted Facial Check with Video. The tool, available via an SDK, prompts users to film themselves repeating numbers and performing randomized movements to ensure liveness and enhance identity verification.


Photo by ANGELA FRANKLIN on Unsplash