Onfido Provides Mobile Onboarding for b-sharpe Currency Exchange

The Swiss company b-sharpe has turned to Onfido for secure onboarding and identity verification. b-sharpe is an online currency exchange platform that provides individuals and businesses with transparent pricing for currency exchanges. The company has cleared 1 billion Swiss Francs in transactions for 14,000 customers, and claims to save those customers around 70 percent when compared to other currency players.

Onfido, meanwhile, is a leading provider of digital ID services. The company’s platform uses facial recognition to compare a selfie to the photo on an official government ID. The solution will allow new b-sharpe users to complete the registration process in less than ten minutes on a standard smartphone, and gain an active account in less than 24 hours.

Onfido’s platform will also allow b-sharpe to remain compliant with the latest regulatory standards.

“We needed a powerful ID validation solution to reinforce our mobile-first strategy and customer-centric digital service platform,” said b-sharpe Founder and CEO Jean-Marc Sabet. “Onfido’s AI-powered service not only speeds up our customer onboarding but provides a seamless experience that results in increased conversion rates for our business.”

Of course, b-sharpe is not the only company to adopt Onfido’s services in the past few months. Onfido has forged similar identity verification partnerships with the e-voting platform Agora and the blockchain payment platform Nuggets, and recently became more widely available as a member of the Dwolla Partner Ecosystem.

Thanks in large part to those kinds of customer relationships, Onfido enjoyed considerable year-over-year growth in the second quarter. The company is now hoping that new customers like b-sharp will allow the trend to continue throughout the rest of the 2019 fiscal year. In the meantime, Onfido has published a Global Fraud Index that estimates that the economy loses $5 trillion to fraud every single year.

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November 26, 2019 – by Eric Weiss