MoneyNetint Forms New Partnership with Onfido to Enhance Biometric Security

July 23, 2019 Paul Jarratt

MoneyNetint, a borderless e-payment firm, has announced they are partnering with identity  verification and facial biometrics company, Onfido, to help improve their security verification KYC processes

We have partnered with MoneyNetInt, to help enhance their online security procedures so users can verify their banking identity wherever they are in the world.

The UK e-money firm provides cross-border money transfers and exchange services for corporate clients. With technology regulations continually changing, they believe that facial biometric security will help them prevent identity fraud. Onfido’s selfie verification processes can also help them better navigate the complexities of global regulation.

Yishay Trif, CEO of MoneyNetint, 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”.

Onfido’s expertise in artificial intelligence and facial biometrics  will help MoneyNetint deliver a frictionless online experience. Furthermore, it will also improve their onboarding experience and operational efficiency through enhanced security checks.

Onfido’s end-to-end IDV service helps keep fraudsters off MoneyNetint’s platform. It does this by verifying customers wanting to send and receive money using a photo of their identity document (ID) and a selfie or live video. Onfido’s technology first checks their ID is genuine, then compares facial similarity to ensure a match against their ID document, it then cross references the ID against international watchlists.

Husayn Kassai, CEO and Cofounder at Onfido said “We’re excited to be partnering with MoneyNetint to help scale their business while reducing their exposure to fraud.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.”

Speaking about the partnership, Yishay Trif said: “We are delighted to join forces with Onfido and passionately believe they complement our services. Our partnership will strengthen our position as one of the leading money exchange firms in Europe”.

 
 

 

Previous Article
Onfido Launches Partner Program to Expand its Global Footprint and Foster Innovation in Identity Community
Onfido Launches Partner Program to Expand its Global Footprint and Foster Innovation in Identity Community

The Onfido Partner Program provides the tools, technical guidance and support required to integrate Onfido’...

Next Article
Currencies Direct chooses Onfido to help scale customer onboarding
Currencies Direct chooses Onfido to help scale customer onboarding

Currencies Direct has partnered with Onfido to power its identity verification for new customers.