AI-powered identity verification provides swift and robust compliance processing for currency transfers
Onfido, has partnered with Currencies Direct, the leading international payments provider, to power its identity verification for onboarding new customers. Onfido’s AI-based identity verification technology will allow Currencies Direct to offer its intentional currency exchange service to more users as it continues to scale.
Currencies Direct allows both business and personal customers to make international payments to 120 countries in over 40 currencies. Transfers can be made with the online app or over the phone. They provide a full suite of digital transfer services, with a focus on ease-of-use and security. Its service also includes a dedicated account management team, allowing customers to speak directly to a currency expert.
With over 250,000 Currencies Direct customers making international payments since 1996, the need for fast, accurate and secure transfers is paramount. Onfido’s identity verification enables customers to rapidly onboard, whilst ensuring Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements are met.
“Ensuring our customers and business are protected against fraud and that their transactions are secure is critical to the success of our company,” said Hardik Shah, Group Head of Product at Currencies Direct. “We selected Onfido because of its innovative hybrid-AI approach that helps fulfil our vision of seamless and easy onboarding experience, whilst ensuring our high compliance standards are not compromised.”
“We’re looking forward to working with Currencies Direct to help them grow their business,” said Husayn Kassai, CEO and Cofounder at Onfido. “Balancing compliance requirements with an elegant and simple customer experience is critical in our online world. We’re pleased to be able to help Currencies Direct achieve this goal and look forward to helping them scale their business.”