Drip Capital, Inc., a leading cross-border digital trade finance platform, announced a partnership with Onfido, the global provider of automated identity verification and authentication solutions, to streamline the onboarding process for new customers.
Through the partnership, Drip Capital will leverage Onfido’s Real Identity Platform to verify identity documents in real time through a secure, fully digital workflow. This will eliminate the need for tedious physical document submission and handling while also speeding up the onboarding process for new applicants.
Pushkar Mukewar, CEO and Co-Founder of Drip Capital
The platform will also provide multiple checks like anti-money laundering, bringing fraudulent documents to light even faster. Onfido’s identity verification solution will enable Drip to enhance its security and provide a seamless experience to its customers.
Rahul Nath, Head of Product & Operations, Drip Capital
This is one of several initiatives from Drip Capital to offer a simplified credit application process and a more user-friendly KYC process than traditional lenders. In the US, Drip offers buy-now-pay-later solutions for SMBs that give them additional days to pay for their imports.
Onfido, a digital identity verification platform, makes it easier for people to complete their KYC compliance quickly and securely. By leveraging biometric and AI technology for automating checks, Onfido helps increase the efficiency of verifying crucial documents at scale and enables real-time response on the validity of these documents. In partnering with Onfido, Drip joins several other major technology companies, including Remitly and VW Financial Services, who already leverage Onfido’s digital identity verification platform.
Alex Valle, Chief Product Officer at Onfido
About Drip Capital
Drip Capital is a trade-tech company that aims to simplify global trade for SMBs. It offers digitized trade financing solutions in markets like the US, India, and Mexico by providing SMB access to collateral-free working capital. The company currently works with over 5000 sellers and buyers across 100+ countries. Drip is backed by investors like TI Platform, Irongrey, Accel Partners, Sequoia Capital, Wing VC, and Y Combinator. Drip was honored as a CB Insights Top 250 Global Fintech Company in 2020 and was a part of Y-com’s Top Companies 2022 List.
For further information on Drip Capital, please visit www.dripcapital.com.