Dutch neobank bunq has extended its partnership with identity verification services provider Onfido.
Under the renewed collaboration, Onfido will continue to deliver AI-powered identity verification to bunq users to expedite on-boarding process.
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The offering will now also include re-authentication solution for bunq users. The move will enable the consumers authenticate their identities with a selfie during high risk situations.
The deployment will eliminate conventional identity checks which involves answering knowledge-based questions or approaching the bank directly.
bunq founder and CEO Ali Niknam said: “In everything we do at bunq, we aim to make our users’ lives easy.
“As Onfido shares this vision and can support our European growth, expanding our partnership is a logical step to provide the best onboarding experience for our users.”
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By GlobalDataOnfido’s identity verification solution allows customer on-boarding by allowing the applicant to submit a selfie with a government-issued identity proof.
The Onfido solution, driven by AI technology, then assesses the genuineness of the photo to authenticate the applicant. Subsequently, Onfido will conduct a biometric analysis of the ID proof against a video selfie of the applicant.
The technology is said to be effective in identifying fraudulent documents and spoofing attempts.
Onfido CEO and co-founder Husayn Kassai said: “We’re thrilled to expand our partnership with bunq, especially on re-authenticating their users over multiple time-periods when needed, in order to detect and prevent fraudulent attempts while enabling the business to quickly scale.”
