British e-payment firm MoneyNetint has collaborated with identity verification platform Onfido to enhance its KYC processes.

Onfido believes that its capabilities in artificial intelligence and facial biometrics will make MoneyNetint’s s online experience frictionless and also support its onboarding process.

Under the partnership, the e-payment firm will utilise Onfido’s IDV service in an effort to combat fraud.

Onfido CEO and co-founder Husayn Kassai said: “Because our machine learning models continuously learn to identify new fraud trends from the millions of identities, we can  enable MoneyNetint to onboard more users quickly without compromising on their fraud requirements.

“This helps build user trust, inclusion and safety online and meet KYC and AML regulations.”

Through Onfido’s IDV service, MoneyNetint will be able to authenticate customers with a photo of their ID, a selfie or live video.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The technology initially checks the authenticity of the ID and compares facial similarity to ensure a match against the ID.

As an added security layer, the ID is then cross-referenced against international watchlists.

MoneyNetint CEO Yishay Trif said: “Onfido’s facial similarity  technology will allow us to help protect customers from fraudsters using fake IDs.

“After using their biometric services, we can now provide greater security to customers using our platform, who wish to send and receive money cross borders.”