Onfido continues global expansion with record growth in Europe and WebID partnership

June 15, 2022 Laura Noye
  • 130% revenue growth in Central Europe, 250% year-over-year growth in Germany, and 175% in Netherlands
  • Onfido and WebID partnership will bring live video verification to Onfido’s customers via Onfido’s single API
  • Launches the Real Identity Platform improving fraud accuracy by 54% 

Onfido, the global identity verification and authentication provider, today announced a record year with 130% revenue growth in Central Europe, achieving 250% year over year growth in Germany, and 175% in the Netherlands. New customers include Austrian Bitcoin broker Coinfinity, Dutch electric scooter company Felyx and mobility as a service start-up Gaiyo. Plus renewals with mobility provider FREE NOW and Swiss crypto asset management company Swissborg.

Surge in demand for cross-border identity verification 

Onfido's strong revenue growth in Europe is driven by the accelerated digitisation of services, particularly in the financial sector, transportation and mobility, and telecommunications industry, where a seamless onboarding journey is critical for customer acquisition. With Onfido’s award-winning technology, businesses can automate identity verification through a simple and user-friendly online experience that helps them to meet regulatory compliance, including KYC (Know Your Customer) and AML (Anti-Money Laundering). 

Supporting its global customer base, Onfido supports checks in 195 countries and over 2,500 document types, so as local organisations expand throughout Europe and international markets, Onfido scales alongside them, providing the highest standard in global accuracy and seamless workflows.

Enters partnership with WebID 

Onfido also announced an exclusive partnership with WebID, a pioneer and leader in online identification and digital signing processes in the DACH region. Together, Onfido and WebID are redefining identity verification that will help enable banks, financial institutions and other organisations to meet BaFin regulations, making customer onboarding compliant, secure and user-friendly.  

WebID and Onfido will be working together to offer WebID live video verification to Onfido’s customers via Onfido’s single API. Customers will be able to reduce the complexity of sourcing and managing multiple identity verification vendors to meet local compliance regulations and can more easily mitigate fraud threats in an increasingly global marketplace.

Commenting on the partnership, Oliver Krebs, SVP, EMEA, Onfido, said: “Our partnership with WebID will deliver a one-stop-shop for compliant, fully automated identity verification. No longer will it be necessary to switch or combine services from several vendors and APIs to create a seamless customer onboarding process.”

Frank S. Jorga, Founder and Co-CEO of WebID, adds: “Over the years, WebID has developed a market leading suite of online verification products, ranging from fully automated identification solutions to video identification, which the company had pioneered in 2012 in Germany, digital contract signing and a proprietary data pool of more than 11 million stored digital identities. The partnership with Onfido combines the strengths of both companies and is WebID’s next step towards becoming a global brand.”

Launched Real Identity Platform 

Onfido recently announced the expansion of its Real Identity Platform as it continues to displace older identity verification methods in the market. The Onfido Real Identity Platform allows organizations to build multiple workflows optimized for different market conditions, geographies, and fraud-risk tolerance that achieve the lowest fraud and highest end-user conversion rates without the need to invest in additional customer support. 

The Real Identity Platform includes four new products:

●      Onfido Verification Suite, a curated library of identity verification services including award-winning document and biometric solutions, trusted data sources and innovative anti-fraud measures.

●      Onfido Studio, a powerful identity orchestration layer that enables organizations to build and optimize multiple identity verification flows using the entire verification suite and no-code workflows.

●      Smart Capture, a flexible, easy-to-integrate SDK that delivers over 90% first-time pass rates, with NFC verification, accessibility features and intelligent end-user feedback to correct things like blurred or cropped images.

●      Onfido Atlas™, a state-of-the-art AI decisioning engine that powers the entire platform, delivering fully automated identity verification and authentication at global scale, with 95% of checks completed in less than 10 seconds and a 90% clear rate. Its built-in anti-bias capabilities are unparalleled in the industry.

“With multi-dimensional identity verification signals, organizations can now get a more holistic view of their customers and make faster, more informed decisions about which products or services to offer and when to offer them,” said Alex Valle, Chief Product Officer of Onfido. “By combining this with the flexibility of easily integrating identity verification at any point in the customer journey through drag-and-drop workflows, organizations can create the perfect user experience without compromising fraud protection, all through a single API and best-in-class SDK.”

Watch the Real Identity Platform video here

Register for the webinar here to see how Onfido’s Real Identity Platform can simplify identity verification and help your business grow.

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