FB pixel

MoneyNetint deploys Onfido facial biometrics to improve KYC processes


In an effort to enhance its online security procedures UK e-money firm MoneyNetint has selected Onfido‘s biometric selfie and document verification solution to improve its KYC processes and better navigate the complexities of global regulation. MoneyNetint provides cross-border money transfers and exchange services for corporate clients.

According to the announcement, Onfido’s expertise in artificial intelligence and facial recognition will help MoneyNetint deliver a frictionless online experience while also improving the onboarding experience and operational efficiency.

“Onfido’s facial similarity technology will allow us to help protect customers from fraudsters using fake IDs,” says Yishay Trif, CEO of MoneyNetint. “After using their biometric services, we can now provide greater security to customers using our platform, who wish to send and receive money cross borders.”

“Because our machine learning models continuously learn to identify new fraud trends from the millions of identities, we can enable MoneyNetint to onboard more users quickly without compromising on their fraud requirements,” adds Husayn Kassai, CEO and co-founder at Onfido. “This helps build user trust, inclusion and safety online and meet KYC and AML regulations.”

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.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News


Asian banks deploy biometrics and digital ID for security, additional services

As digital identity gains prominence in a financial industry beset by fraud, nations in Asia are enabling banks to lead…


Mobile ID combats fraud, gives holder control of personal data: USPF report

The U.S. Payments Forum (USPF) has published a new white paper entitled “The Role of Mobile IDs in Payments.” Authored…


Wyoming plots mobile driver’s license launch for 2025

Wyoming is moving towards the issuance of digital ID in the form of an optional mobile driver’s license, but it…


EU publishes rollout schedule for AI Act

The European Union has published the final text of the Artificial Intelligence Act, outlining the most important deadlines for complying…


World Bank identifies priority actions for DPI in Equatorial Guinea

A World Bank team has identified immediate actions which the government of Equatorial Guinea should undertake in ramping up its…


Some sort of ID could be ‘inevitable’ for UK: lawmakers

The UK is still debating national identity documents and digital identities, with lawmakers and experts arguing that the creation of…


Leave a Reply

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

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events