How they describe themselves: Onfido builds trust in an online world by helping businesses digitally verify people’s identities.
Using machine learning technology, Onfido validates a user’s identity document and compares it with their facial biometrics. The identity can then be cross-referenced against international credit and watchlist databases.
Founded by three entrepreneurs from Oxford University, Onfido has received over $60M in funding from investors including Microsoft Ventures and Salesforce Ventures. We carry out checks in 192 countries for global customers including Zipcar, Couchsurfing, Revolut and Square.
How they describe their product/innovation: Onfido’s Facial Check with Video provides added security at the point of new user sign-up. The check, available via Onfido’s SDK, prompts users to film themselves repeating numbers and performing randomised movements. Using machine learning, the short video is then checked for similarity against the image of a face extracted from the user’s identity document. Crucially, the Facial Check with Video detects liveness, so facial checks can’t be spoofed by fraudsters using a stolen photo or identity document.
Product distribution strategy: Direct to Business (B2B), through other fintech companies and platforms