BUX Expands Partnership with Onfido to Improve Digital Identity Verification

Onfido, a technology company that helps businesses prove their users' real identities, announced that it has expanded the partnership with BUX, Europe's fastest-growing neobroker to scale digital identity verification for secure user onboarding.

According to the announcement, BUX will integrate Onfido’s AI-powered identity verification which enables BUX to scale with ease to remotely verify their users securely and simplify Know Your Customer (KYC) requirements and the onboarding journey.

Clients take a photo of their government-issued identity document (ID) and a selfie. Onfido first checks that the ID is genuine and not fraudulent and then matches it with the client’s face. This ensures that the person presenting the identity is the rightful owner of the ID and is physically present.

“Organisations today face the challenge of offering a seamless onboarding experience while integrating strong fraud detection and upholding privacy. With Onfido BUX can achieve just that, putting usability, security and trust at the forefront,”said Michael van Gestel, Global Head of Fraud and General Manager of Onfido Netherlands.

“Simplicity is at the core of the user experience for BUX Zero, and by partnering with Onfido, we are able to make one of the first points of contact with our clients not only seamless but also secure,” said Aditya Pasumarty, Chief Product Officer at BUX.

As Fazzaco reported earlier, Tiger Brokers (Singapore) announced that it has inked a partnership with Onfido​ to streamline user onboarding.