Fintechs sign up for biometric customer onboarding from Ondato, Onfido, ID-Pal
Identity verification and selfie biometrics providers Ondato, Onfido and ID-Pal have announced new fintech customers.
Lithuanian know-your-customer (KYC) solution provider Ondato signed Amlyze, a regtech startup selling to fintechs, neobanks and virtual assets service providers (VASPs).
Ondato CEO Liudas Kanapienis says his firm’s products will help Amlyze’s “streamline KYC and AML procedures, assuring the highest standard of financial crime prevention.” They will “communicate in order to eliminate compliance risks.”
The firms are collaborating on new anti-money laundering (AML), counter-terrorism financing (CFT) and KYC software.
Ondato recently issued a marketing report about the costs of AML processes for large European banks.
Onfido signs TSB Bank for onboarding software
Next, TSB chose London-based Onfido to create onboarding process using Onfido’s document ID and biometric verification software.
India Fines, digital onboarding manager at TSB, says, “New users can open new accounts and access mobile banking in as little as 10 minutes.”
Fines says that “the experience that I’ve had with Onfido, working with them quite closely throughout this whole project, has been really positive.”
Onfido has said it was recently certified for the United Kingdom’s high confidence profile H1A and signed up another two clients.
ID-Pal adds Keystone Property Finance
Finally, ID-Pal announced a contract win, signing specialist buy-to-let lender Keystone Property Finance.
The company is streamlining the onboarding process used by mortgage brokers and borrowers, in this case landlords. ID-Pal is bringing its multi-layered IT verification software delivered through a branded client-facing app, according to the company.
Verification is performed using biometrics, documents and database checks.
“Using ID-Pal, brokers and borrowers can be certain of the security of the process due to our ISO/[IEC] 27001 certification” coupled with a more-seamless, compliant digital onboarding process,” comments ID-Pal CEO Colum Lyons.
The move comes days after ID-Pal announced hiring Sara West as its new commercial director to renew the company’s strategic development efforts in the UK.
