MoneyNetint Forms New Partnership with Onfido to Enhance Biometric Security
July 2019 by Marc Jacob
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.
MoneyNetint has partnered with Onfido, 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.
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.