Onfido joins sandbox as Veriff’s biometrics deployed to verify Blockchain users
Cryptocurrency product provider Blockchain has selected Estonian startup Veriff to perform online identity verification services with its facial and behavioral biometric technology, according to ERR.ee.
Meanwhile Onfido will participate in the latest round of the UK’s Financial Conduct Authority’s (FCA’s) regulatory sandbox testing, along with fintechs Monese, Seedrs, Curve, and B-Social. The company says it will take the opportunity to advance its goal of enabling people to quickly and simply prove their legal identity online to access products and services without re-verifying themselves every time, according to the announcement.
Onfido also joined a cross-border regulatory sandbox run by the Global Financial Innovation Network (GFIN) earlier this year.
Veriff offers artificial intelligence-powered document verification, facial recognition with proprietary liveness checking, device fingerprinting and behavioral biometrics to verify users. Blockchain began testing Veriff’s service early this year, and has already used it to verify the identity of millions of customers and prevent fraudsters from using its platform, according to the announcement.
“It is a great compliment to Veriff’s team for Blockchain to choose us as a partner for identity verification services, especially as their highly professional team has been working with different verification service providers,” says Veriff Founder and CEO Kaarel Kotkas. “Identity verification on a global scale is no easy feat, but through this partnership, we’ll continue to set and advance the standards for transparency and fraud protection in cryptocurrencies.”
Blockchain has raised more than $70 million from a range of leading investors, including Light Speed Ventures and Google Ventures. Veriff has raised $7.35 million from investors including Y-Combinator and Mosaic Ventures, and says it can assess more than 3,000 types of identity documents from 190 jurisdictions.