Onfido’s biometric authentication chosen by Polish bank for onboarding, KYC, founder steps away

Poland-based Alior Bank has chosen Onfido facial biometrics for digital identity verification to streamline its digital onboarding and KYC processes, the company announced.

Clients opening a personal account remotely can use the Alior Mobile application for identity proofing. All they have to do is take a photo of their government ID and a video selfie that will be verified for legitimacy and matched to the user’s face with biometric facial recognition.

The COVID-19 pandemic has led to a 200 percent increase in new mobile banking registrations, while only 40 percent of consumers would return to physical locations, Onfido claims.

Alior Bank customers will soon also have access to non-banking services such as buying transportation or cinema tickets, or hire a service to run personal errands.

“Customers’ convenience as well as security and accessibility of new solutions are our highest priorities. Through the digitalisation of our day-to-day interactions with our account holders, we can offer many more services via their smartphones and build deeper customer relationships. The capacity to open an account using only your mobile is a first step towards building a virtual ecosystem of products from various categories, not only finance,” said Iwona Duda, acting CEO at Alior Bank, in a prepared statement.

“In today’s digital age, users increasingly appreciate a simple digital experience so they can prove their real identity while knowing it is secure and upholds privacy,” said in the announcement Husayn Kassai, CEO and co-founder at Onfido. “We bring trust to digital interactions worldwide, and we’re very happy to be supporting Alior Bank’s digital initiatives. We pride ourselves on delivering access to online services that both detects and prevents fraudulent attempts while enabling the business to scale and meet regulations.”

Onfido recently partnered with fintech and financial service companies Bondora, Voima Gold, and Estate Guru to automate KYC and AML compliance and identity verification in Eastern Europe and the Nordics.

The company reported a 40 percent quarter-over-quarter rise in global sales ending June 30, 2020, and a 264 percent year-over-year growth in the U.S. driven by a high demand for its biometric ID verification technology amid the global pandemic.

Onfido Co-founder and COO Eamon Jubbawy has announced in a company blog post that he is leaving to help the Al-Ayn Foundation, which supports close to 60,000 orphans in Iraq, scale its operations and build a series of housing units. Jubbawy says he is not sure when or if he will return to the company, but expresses pride in having built Onfido to a market leader with 400 employees along with his co-founders.

Article Topics

banking  |  biometrics  |  digital identity  |  facial recognition  |  identity verification  |  KYC  |  Onfido