FB pixel

Bitstamp selects Onfido to to verify user identities, scale customer onboarding

 

Cryptocurrency exchange Bitstamp has selected identity verification provider Onfido to help it scale and onboard new customers following the recent spike in digital currency trading interest.

According to the partnership announcement, Bitstamp has more than 3 million customers registered on its platform.

“Onfido’s powerful machine-learning technology has allowed us to automate our new customer identity verification process, and still maintain our high standards when it comes to KYC,” said Bitstamp CEO, Nejc Kodric. “We’re already seeing positive results when it comes to speeding up our verification process.”

Using machine learning technology, Onfido validates a user’s identity document and compares it with their facial biometrics. The company has received over $60M in funding from investors including Microsoft Ventures, Salesforce Ventures and Idinvest Partners.

“We are quickly becoming the go-to provider for KYC in this space, and are helping make it more secure,” added Onfido CEO and co-founder Husayn Kassai. “We now work with over 30 cryptocurrency companies, allowing them to scale customer onboarding smoothly, and be more vigilant as the digital currency industry faces more scrutiny and regulation.”

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Reach of Musk, DOGE’s federal data access sets off privacy, security alarms

Led by tech billionaire Elon Musk and a shadowy team believed to be under his control, the United States DOGE…

 

Mobile driver’s licenses on the cusp of ‘major paradigm shift’

More entities have integrated the California mobile driver’s license (mDL) credential for identity verification. Although just 15 states have introduced…

 

Gesture-based age estimation tool BorderAge joins Australia age assurance trial

Australia’s age assurance technology trial is testing the new biometric tool that performs age estimation based on hand gestures. The…

 

European AI compliance project CERTAIN launches

The pan-European project to create AI compliance tools CERTAIN has kicked off its work, with the goal of making European…

 

Signaturit Group acquiring Validated ID for undisclosed sum

Spain-based digital identity and electronic signature provider Validated ID is being acquired by Signaturit Group, a European company offering identity…

 

South Africa will invest in DPI, says President

South Africa is planning to invest in digital public infrastructure (DPI) , including the launch of a national digital identity…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events