The collaboration combines Onfido’s AI-powered document and identity verification with bunq’s modern customer-focused services


Image: Bunq expands collaboration with Onfido. Photo: Courtesy of Lars_Nissen_Photoart from Pixabay.

UK-based identity verification provider Onfido has expanded its partnership with Netherlands-based mobile money platform provider bunq.

Under the collaboration, Onfido will expand its AI-powered identity verification, to provide a fast and easy user re-authentication solution for bunq users.

The collaboration is expected to combine the Onfido’s AI-powered document and identity verification with bunq’s customer-focused services to offer a flexible, secure and easy to use mobile banking option for users.

Onfido will provide identity verification solution that enables secure and simple onboarding for bunq users. The AI-enhanced technology allows applicants to simply take a photo of their government-issued identity document (ID) using their smartphone and assesses if it seems genuine.

In addition, the technology deploys biometric analysis to compare the video selfies taken by the users with the ID to verify if it matches with the user.

The unique verification process is said to detect the fraudulent documents and spoofing attempts, and simultaneously provides quick and easy onboarding experience for legitimate users.

Onfido’s solution alerts users when high risk around a customer account is detected

Established in 2012, bunq is an independent bank that designs products and services for alternative solutions to traditional banking. The bank eliminates the need for branch visits, queues, paperwork, and facilitates immediate access from a mobile device.

Bunq said that its partnership with Onfido is aimed at providing user re-authentication solution for its users who intend to reset their passwords and resolve account lockouts.

The solution is claimed to alert users when it detects high risk around a customer account, and facilitates easy authentication through a selfie.

In addition, it provides immediate remediation and user controls back to the users, by preventing the need for time-taking identity checks, including knowledge-based question or contacting with the bank.

bunq founder and CEO Ali Niknam said: “In everything we do at bunq, we aim to make our users’ lives easy. As Onfido shares this vision and can support our European growth, expanding our partnership is a logical step to provide the best onboarding experience for our users.”