Travel Money Club chooses Onfido for modern identity verification

Travel Money Club chooses Onfido for modern identity verification that brings more users onboard

Onfido enables quick, seamless compliance processes for currency exchange

Onfidohas partnered with currency exchange platform Travel Money Club to deliver a modern identity verification experience. Onfido’s machine learning-based identity verification technology allows Travel Money Club to offer its next-day currency exchange service to more users as it continues to scale.

Travel Money Club delivers cash currency to frequent travellers via fully insured, secure, next day delivery. Over £49 billion in currency is exchanged in the UK and taken abroad by British travellers every year, as cash is still the preferred mode of payment in most taxis, shops and restaurants. Travel Money Club caters to this market by offering currency exchange to its users at unbeatable rates, since the company profits only from membership fees and not from currency. A typical Travel Money Club member saves £341 per year compared to the high street, with some saving as much as £743.

With thousands of orders already placed and millions of pounds exchanged on the platform since its launch in January 2018, Travel Money Club needed a fast and secure way to meet its compliance requirements. Onfido’s identity verification solution enables Travel Money Club to meet its promise of next-day delivery by rapidly onboarding new users with automated KYC.

Onfido enables speedy, secure and scalable user onboarding via Travel Money Club’s mobile app. For most users, identity record checks document and watchlist checks are also performed. Travel Money Club chose Onfido for the speed and sophistication of its solution, as well as its broad range of data sources.

Don Clark, Chairman of Travel Money Club, said: “Protecting customers and our business against fraud is of paramount importance to us. Onfido’s modern compliance technology enables us to deliver on our promise to our members, and offer more money to more users. Since partnering with Onfido, we’ve seen a significant  increase in the number of people we’re able to securely verify and onboard, helping us scale. And for our users, the process is seamless – most sail through without any impact on their experience.”

Husayn Kassai, CEO of Onfido, said: “It’s a pleasure to be helping Travel Money Club bring its services to new users. Meeting compliance challenges without sacrificing on customer experience is a tough balance to strike, but one that’s increasingly important in our online world.  We look forward to working together as Travel Money Club continues to scale.”


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