Onfido Applauded by Frost & Sullivan for Enhancing Identity Verification and Customer Experience with Its Robust Digital Identity Verification Platform
Onfido's Real Identity Platform quickly and efficiently allows highly secure identity verification and authentication functions for greater efficiencies, cost savings, and fraud prevention.
SAN ANTONIO, March 30, 2023 /PRNewswire/ -- Recently, Frost & Sullivan assessed the biometric verification and authentication solutions industry and, based on its findings, recognizes Onfido with the 2023 Global Enabling Technology Leadership Award. The company offers artificial intelligence (AI)-based identification verification services using physical biometrics to verify a user's identity. Onfido is committed to simplifying identity processes for everyone, providing top-notch solutions beyond just document and biometric verification, and making business-to-customer relationships worldwide more open, secure, and inclusive. With its innovative products, Onfido reliably and effectively addresses real customer problems.
Onfido's Real Identity Platform supports document, biometric and data verification, and fraud detection signals. The platform uses a no-code drag-and-drop interface that enables businesses to create flexible end-user workflows optimized for sector conditions, geographies, and risk tolerances. Ultimately, it simplifies end users' identity management, leading to lower fraud and higher conversion rates. The platform also helps customers verify and re-verify their users using biometrics for post-onboarding moments of account recovery and high-risk situations, such as high-value money transfers. With fewer screen clicks, more accessibility features, and head turn movements, the solution enhances customer experience.
Pranav Sahai, Commercial and Public Security Analyst at Frost & Sullivan, noted, "Onfido's Real Identity Platform supports customers' needs regardless of their geography or industry. The company's solutions continuously resolve 'Know Your Customer' and remote onboarding issues for all types of digital services through its comprehensive verification and authentication processes."
Furthermore, Onfido's Smart Capture solution, Motion offers faster, more accurate, and advanced liveness detection within its core biometric services, but with a more intuitive, guided user experience that instantly determines a user's identity with a simple left and right head-turn movement. Motion improves anti-spoofing performance by 10 times over the company's previous video product, and 95% of checking processes occur within 10 seconds. Onfido's anti-spoofing technology helps businesses to detect fraud and avoid sophisticated digital attacks. With its cutting-edge technology, it delivers excellent verification solutions that ensure high scalability, comprehensive compliance, effective multiple authentication schemes, and easy integration procedures.
"Onfido's international customers benefit from an identity platform that allows them to more easily expand cross-border while remaining compliant and reducing their fraud exposure, , making it one of the most comprehensive global identity verification platforms. The company stands out from competitors based on its commitment to innovation, creativity, revolutionary solutions, continuous service enhancement, exceptional operational strategies, and ability to launch new solutions with far-reaching impact and application," added Norazah Bachok, Best Practices Research Analyst at Frost & Sullivan. With its customer-centric approach and strong overall performance, Onfido earns Frost & Sullivan's 2023 Global Enabling Technology Leadership Award in the biometric authentication solutions industry.
Each year, Frost & Sullivan presents this award to a company that has developed pioneering technology that not only enhances current products, but also enables the development of new products and applications. The award recognizes the high sector acceptance potential of the recipient's technology.
Frost & Sullivan Best Practices awards recognize companies in various regional and global sectors for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare sector participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Onfido
Onfido makes digital identity simple. The company makes it easy for people to access services by digitally verifying them using its Real Identity Platform. The platform allows businesses to tailor verification methods to individual user and market needs in a no-code, orchestration layer – combining the right mix of document and biometric verifications, trusted data sources, and passive fraud signals to meet their risk, friction and regulatory requirements. Onfido Atlas™ AI powers the platform's fully-automated, end-to-end identity verification. Developed in-house for over 10 years, it's how Onfido ensures its analysis is fair, fast and accurate. Partnering with over 900 businesses globally, Onfido helps millions of people access services every day – from billion dollar institutions to hyper growth start-ups.
Recognized as a global leader in AI for identity verification and authentication, Onfido is backed by TPG Growth, Idinvest Partners, Crane Venture Partners, Salesforce Ventures, M12 (Microsoft) and others.
www.onfido.com
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SOURCE Frost & Sullivan
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