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Currencies Direct deploys Onfido biometrics to help scale customer onboarding


In an effort to offer its intentional currency exchange service to more users as it continues to scale, Currencies Direct is deploying Onfido AI-based identity verification technology to onboard new customers while meeting KYC and AML requirements.

Currencies Direct offers international payments services in over 40 currencies to more than 250,000 business and personal customers in 120 countries. Transfers can be made online over the phone. The full suite of digital transfer services includes a dedicated account management team, allowing customers to speak directly to a currency expert.

“Ensuring our customers and business are protected against fraud and that their transactions are secure is critical to the success of our company,” says Hardik Shah, Group Head of Product at Currencies Direct. “We selected Onfido because of its innovative hybrid-AI approach that helps fulfil our vision of seamless and easy onboarding experience, whilst ensuring our high compliance standards are not compromised.”

“We’re looking forward to working with Currencies Direct to help them grow their business,” adds Husayn Kassai, CEO and Cofounder at Onfido. “Balancing compliance requirements with an elegant and simple customer experience is critical in our online world. We’re pleased to be able to help Currencies Direct achieve this goal and look forward to helping them scale their business.”

Onfido recently announced a revenue increase of 137 percent on a year-over-year basis in a busy first quarter of its fiscal 2019 year, during which the company appointed several new people to its leadership and announced a series of expansions, partnerships, and customer wins.

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