Onfido helps customer onboarding for paytech Volopa
Identity verification firm Onfido will help FX and international payments solutions provider Volopa enhance its customer onboarding process with KYC functionality, reports David Penn at Finovate.
Volopa sought out Onfido’s machine learning-based technology for its multi-currency prepaid card business.
An operator of consumer and corporate multi-currency prepaid card programmes, Volopa enables businesses to offer their own Volopa-powered, branded cards.
Cardholders can store value and transact in 14 different local currencies without additional conversion or FX charges and fees, and can use accompanying mobile and web apps to manage and control their card use.
These apps can be used to transfer funds between cards, top up cards, and view transactions in real time.
Onfido will enable Volopa to onboard new customers in less than five minutes. To use the technology, Volopa customers take a selfie and a photo of their physical ID.
Onfido verifies the authenticity of the identity document, compares the selfie with the photograph in the identity document, and cross references the customer’s identity against international watchlists.
Last month, Onfido announced that it was partnering with TransferGo, helping the remittance firm with its onboarding process.
Also in August, the company teamed up with Claim Technology to support claims handlers and their customers.
Onfido will provide identify verification for India’s largest ride sharing company, Zoomcar, courtesy of a deal announced in July, the same month the company reported that it would provide identity verification technology for LendInvest’s Buy-to-Let digital applications.
London-based Onfido has raised more than $60 million in funding, and includes Idinvest Partners, Wellington Partners, and Crane Venture Partners among its investors.
