Onfido today announced a new version of its award-winning identity verification and authentication service on Salesforce AppExchange, empowering Salesforce customers in financial services, insurance and trusted marketplaces to integrate remote identity verification and authentication into their existing workflows.
In today’s climate, it is important for banks and insurers to expand their branchless experiences in order to continue to scale their customer base. By using Onfido, these businesses can accelerate their online customer onboarding while remaining KYC and AML compliant. For trusted marketplaces, Onfido builds assurance at the point of onboarding, ensuring companies know who end users claim to be, making it harder for fraudsters and increasing safety within the community.
End users sign up by simply taking a photo of their government-issued identity document (ID) and a selfie. Onfido first checks that their ID seems genuine and not fraudulent, and then matches it to the user’s face. This helps to ensure the person presenting the ID is its legitimate owner and is physically present. The verification results are then populated straight to the Salesforce dashboard.
With a 41% increase in identity fraud year-over-year and more first-time fraudsters appearing since the start of the pandemic, it is essential for companies to know that they are signing up legitimate customers.
Onfido’s identity verification service enables document-first onboarding, which verifies new users from their first interaction, with 98.7% of fraudulent applications detected. To achieve this, Onfido uses a combination of machine learning and human analysts to check for data consistency across the ID, performing image analysis, and detecting anomalies in fonts.
Establishing a robust end-user profile at onboarding helps build a trusted relationship between businesses and their customers. Marketers, bankers, risk & compliance, and back office employees can all trust this verified identity, enabling them to provide a more personalized and consistent end-user experience across their different business units.
The COVID-19 pandemic has contributed to a 200% jump in new mobile banking registrations, while mobile banking traffic rose 85% in April.
“Only 40% of consumers are expected to return to bank branches post-COVID, so it’s more critical than ever to provide a truly end-to-end digital experience,” said Kevin Trilli, Chief Product Officer for Onfido. “The growing digital trends of mobile and branchless banking are just the beginning. With a strong, robust identity verification at the start of the customer journey, banks and insurance providers using Onfido’s AppExchange solution can more easily scale their businesses and provide a 360-degree view of the customer to personalize the customer journey.”
“Onfido’s new identity verification solution is a welcome addition to AppExchange as companies are looking to accelerate their digital transformations,” said Woodson Martin, GM of Salesforce AppExchange. “AppExchange is constantly evolving to enable our partners to build cutting-edge solutions to drive customer success.”
Onfido covers over 4,500 ID document types across 195 countries, detecting anomalies automatically, while using human experts to verify outliers. To see Onfido’s award-winning product in action, sign up for a live demo here.