In its latest business update, Onfido is once again celebrating remarkable growth trends – and the company has announced an important new partnership, to boot.
The latter entails WebID, a Berlin-based digital identity services provider serving the DACH region (comprising Germany, Austria, and Switzerland). In announcing the partnership, Onfido explained that the companies will work together to help financial services providers and other organization to comply with ‘BaFin’ regulations, referring to Germany’s Federal Financial Supervisory Authority.
To that end, Onfido will offer WebID’s live video verification solution through its API platform.
“Our partnership with WebID will deliver a one-stop-shop for compliant, fully automated identity verification,” explained Onfido EMEA SVP Oliver Krebs. “No longer will it be necessary to switch or combine services from several vendors and APIs to create a seamless customer onboarding process.”
The partnership should help to further cement Onfido’s strong position in Germany, where the company says it saw 250 percent year-over-year growth in its latest update. Looking to Central Europe more broadly, Onfido reports a 130 percent increase in revenue growth, and growth of 175 percent in the Netherlands.
It’s a success story that continues to reflect the popularity of selfie-based remote identity verification solutions amid ongoing digital transformation. Onfido’s solutions revolve around this kind of facial recognition technology, and the company announced an expansion of its Real Identity Platform last month, introducing automation and accuracy enhancements.
“With multi-dimensional identity verification signals, organizations can now get a more holistic view of their customers and make faster, more informed decisions about which products or services to offer and when to offer them,” explained Onfido’s Chief Product Officer, Alex Valle. “By combining this with the flexibility of easily integrating identity verification at any point in the customer journey through drag-and-drop workflows, organizations can create the perfect user experience without compromising fraud protection, all through a single API and best-in-class SDK.”
The update comes just days after Onfido’s announcement that it would provide a remote customer onboarding solution for Bank Millennium Poland, further emphasizing its momentum in the European market.
June 16, 2022 – by Alex Perala