IDEMIA partnership to support Onfido’s global expansion strategy
The new strategic partnership agreement with IDEMIA is expected to streamline digital identity verification and customer onboarding for financial institutions. According to the announcement, this new agreement will support Onfido’s global expansion strategy.
“We are thrilled to join forces with Onfido in order to meet the requirements and needs of our financial institution customers in remote ID Proofing,” explained Pierre Barrial, Executive Vice-President for Financial Institutions activities at IDEMIA. “Onfido is a perfect complement to the IDEMIA suite of solutions available to the financial market globally. It contributes to strengthen our position as the partner of choice of financial institutions for building security and trust in their digital transformation.”
Onfido also announced today that its new Paris office will open in Q1 2019 becoming the company’s seventh global location and will help the company address increased demand for its AI-powered identity verification service. The company plans to invest over €4 million over the next twelve months building out its French presence.
“We’re excited to be investing heavily in France as the demand for robust identity verification solutions continues to grow,” said Husayn Kassai, CEO and co-founder of Onfido. “Paris, being a centre of tech excellence, is another ideal location in Europe, augmenting existing offices in San Francisco, New York, London and Lisbon, allowing us to further improve our support for all our Europeans customers, including our newest clients and partners, Europcar Mobility Group, IDEMIA and AR24.”
Using machine learning technology, Onfido validates a user’s identity document and compares it with their facial biometrics and cross references the ID against international watchlists. Using artificial intelligence, the technology enables companies to automate checks on over 4,500 document types across 192 countries.
Onfido first entered the market in France in 2014 and early French customers include BlaBlaCar and Drivy. Onfido now provides identity verification to more than 1,500 companies including 30 of the world’s largest crypto exchanges and wallets.
Sales of Onfido biometric and ID check products grew 342 percent in 2018. The company has received over $60M in funding from investors including Microsoft Ventures, Salesforce Ventures and Idinvest Partners.