Onfido is crediting the rising demand for online services for its record sales growth in the Asia Pacific region. The company posted year-over-year APAC growth of 174 percent in the third quarter of 2020, building on the comparable success it has enjoyed in the US and at the global level. The company’s global Q3 sales were up 82 percent, while its US sales jumped 237 percent in the same period.
Onfido, of course, is best known for its biometric onboarding solution, which allows a customer to verify their identity with a selfie and a photo of their identity document. The solution uses facial recognition to compare the selfie to the photo ID to make sure the two are a match. In doing so, it enables secure onboarding on mobile devices while allowing online merchants and service providers to comply with international Know Your Customer regulations.
Singlife, hoolah, and Instapay are some of Onfido’s latest customers in the APAC region. Singlife is a digital life insurance provider, while Instapay is an e-wallet that was designed to simplify payroll management and raise financial inclusion for underbanked employees. hoolah, meanwhile, is a credit service that allows people to pay for goods in installments. All three companies are using Onfido to secure their mobile apps, with Onfido noting that COVID-19 has created an urgent need for online services and accelerated digital transformation.
“It is essential that organisations can remotely identify their users online with the highest level of assurance yet still provide a fast and simple end-user experience,” said Onfido APAC GM Harvinder Singh. “We’re pleased to be helping companies in APAC achieve this – enabling them to transform the customer experience and continue to scale with increased customer demand.”
December 1, 2020 – by Eric Weiss