Onfido, bunq renew partnership for seamless biometric identity verification
Mobile-only bank bunq and Onfido have renewed their partnership to further deliver AI-powered biometric identity verification to users for a secure, seamless onboarding and re-authentication process in mobile banking, the company announced.
Onfido provides a biometric identity verification solution that the companies say will ensure frictionless onboarding for bunq users, whose government ID’s will be verified by AI technology applied to a photo of it taken with a smartphone. The ID will be matched to a video selfie of the user based on comparison conducted with Onfido’s biometric analysis technology. Onfido says its tool can easily identify fraud and spoofing attempts.
“In everything we do at bunq, we aim to make our users’ lives easy,” says Ali Niknam, founder and CEO of bunq. “As Onfido shares this vision and can support our European growth, expanding our partnership is a logical step to provide the best onboarding experience for our users.”
Under the partnership, bunq is deploying the solution for its user re-authentication process for password reset and account lockouts. In case of high risk, users can take a selfie for authentication, thus removing traditional identity checks such as knowledge-based questions or reaching out to the bank.
As a result of the partnership and improved KYC approach, bunq says it can now process an enhanced number of government ID and expand to other regions now that it has launched in all EU-markets.
“We’re thrilled to expand our partnership with bunq, especially on re-authenticating their users over multiple time-periods when needed, in order to detect and prevent fraudulent attempts while enabling the business to quickly scale,” said Husayn Kassai, CEO and cofounder of Onfido. “bunq shares our ethos of putting identity back in the hands of customers by providing a much more secure and convenient way to provide access to online services.”
Onfido’s Digital Registration, Identity Verification and Authentication solutions were integrated into ForgeRock’s CIAM platform, it was just announced at the Gartner Identity & Access Management Summit.