onfido

What is Onfido?

Onfido is a background verification and authentication platform that helps businesses verify user identity digitally. It uses AI to check government-issued IDs, such as passports or driver’s licenses, against known faces in the database to filter out fraudsters. Corporations use Onfido for KYC compliance and onboarding and to enable secure access control.

The platform also serves clients in fintechs, banks, healthcare, and gig economy platforms. Onfido is famous for its fast, scalable, and compliant identity verification services. The solution is to enable user verification with minimum manual intervention while eliminating fraud and risks.

Top Features of Onfido

• AI-Powered ID Verification: Employs sophisticated algorithms for the detection of advanced forgeries while authenticating 2,500 document types from across the globe. The system is regularly updated to provide better detection capabilities and counter new fraudulent methods. This guarantees reliable and fully compliant digital onboarding for fraud-sensitive industries.
• Biometric Facial Recognition: Uses cutting-edge AI-based liveness detection for selfie live-captured user identity verification to put selfies side by side with ID photos. Technology effectively mitigates even the most sophisticated deepfake and 3D mask spoofing attempts. This multi-layered strategy grants efficient and secure authentication for high-value, high-risk transactions.
• Document Fraud Detection: Automatically verifies user identity by performing pixel-precision, forensic-level examination of tampered or counterfeit documents. Checks security features such as holograms and microprints, alongside digital signing for comprehensive screening to significantly mitigate risks of synthetic identity fraud.
• Global Compliance Support: Possesses knowledge of regional regulations such as GDPR and AML of 195+ countries, which is constantly updated. Automatically alters verification flow for local compliance requirements. Doesn’t need legal complexity when expanding internationally, which makes it cost effective.
• No-Code Integration: Has an easy-to-use design with a responsive dashboard that doesn’t require technical knowledge, making integration easy through SDKs. Businesses can customize verification workflows to match their specific risk tolerance, enabling rapid deployment while maintaining high security standards.
• Continuous Risk Monitoring: Onfido document verification software provides ongoing protection by tracking verified users for suspicious activity post-onboarding. The system alerts businesses to potential risks like identity theft or account takeovers. This proactive approach enhances long-term security beyond initial verification.

Why Businesses Use Onfido Software?

There are various reasons why businesses choose to use Onfido. A few of them are the following:

• Fraud Prevention & Security: To avert identity fraud, Onfido employs AI for document verification coupled with liveness detection to block deepfakes and fake identification. Its ongoing supervision minimizes account takeovers, which safeguard businesses from emerging risks while lowering the chances of legitimate users being falsely denied access.
• Regulatory Compliance: The platform facilitates the automation of KYC/AML checks, offers a range of global ID types, and complies with region-specific laws, including the GDPR. This allows businesses to remain compliant without any additional effort being expended and mitigates the legal liabilities associated with identity verification.
• Faster Onboarding & Better UX: Onfido enhances the signup experience while minimizing the abandonment rate with selfie verification and near-instant ID verification. Any business can now integrate Onfido without needing any coding knowledge, which eliminates the friction for users from the very beginning.
• Cost & Scalability: Onfido's cloud-based remote verification solutions spare businesses the hassle of manually cross-referencing documentation, saving time and cost. The solution is accessible without any new infrastructure investments to accommodate traffic spikes during peak seasons.
• Customizable Security Rules: Each business is allowed to set specific account risk thresholds or limits along with additional verification steps to optimize security and conversion rates as required. This method provides the necessary agility to meet low and high-risk customer segment needs.
• Real-time Analytics & Reporting: Onfido provides detailed and useful customer information related to account verification, fraud patterns, and other relevant data. These insights enable businesses to fine-tune their onboarding funnel and security measures without interruption.

Onfido Pricing

Onfido’s pricing is available on a call request to Techjockey.com. You can get more information from them about pricing and other details.