• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Cryptocurrency Exchange Leverages Onfido for Customer Onboarding

February 20, 2018

Onfido’s biometric ID verification solution is now being used to onboard customers of Bitstamp, a major cryptocurrency exchange.Cryptocurrency Exchange Leverages Onfido for Customer Onboarding

The Onfido solution is designed to let clients confirm the identities of their end users via tablets or smartphones. The system combines facial recognition and document reading capabilities to biometrically confirm that users are who they say they are, and was recently leveraged by digital bank Arro Money for online customer authentication.

It’s now performing much the same service for Bitstamp. In a statement announcing the implementation, the latter explained that it saw a huge jump in new customer requests during December’s cryptocurrency bubble, with over 100,000 onboarding requests per day. As such, it needed an automated solution to deal with the volumes, and Bitstamp CEO Nejc Kodrič now explains that “Onfido’s powerful machine-learning technology has allowed us to automate our new customer identity verification process, and still maintain our high standards when it comes to KYC.”

It’s the latest example of the growing popularity of mobile biometric ID verification solutions, particularly in the financial services sector. Besides Onfido, peers like Jumio and FacePhi have reported considerable growth in recent months as more clients look to leverage mobile biometrics for customer onboarding.

Filed Under: Industry News

Related News & Articles

Nymi Teams Up with MES Provider POMS

Selfie Onboarding Specialist Passes iBeta Level 2

GSMA Helps Launch Regulatory Pilot Space for ASEAN Businesses

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Selfie IDV Innovator Finds Escalating Demand in Q4
  • Another e-Betting Platform Leverages Biometric KYC, Care of Jumio
  • Thai Authorities Approve Mobile ID for Airport Boarding
  • New Yoti Solution Ties Biometrics to e-Signatures
  • Kenya’s New President Pushes for Digital ID By Year’s End

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld