Overview of Onfido
Onfido is a comprehensive digital identity verification platform designed to help businesses build trust with their customers while navigating complex regulatory requirements and protecting against fraud. Here’s a detailed look at what Onfido does and its key features.
Purpose and Benefits
Onfido’s Real Identity Platform is engineered to simplify digital identity verification, enabling businesses to acquire and onboard customers efficiently, address compliance needs, reduce acquisition costs, and effectively fight fraud. The platform leverages a combination of document and biometric verification, trusted data sources, and intelligent fraud-detection signals, all powered by advanced AI technology.
Key Features
Verification Suite
The Onfido Verification Suite is a robust portfolio of identity verification and fraud detection products. It includes:
- Document and Biometric Verification: Capable of analyzing government-issued IDs from around the globe and linking genuine documents to a real user’s face through facial biometric verification.
- Trusted Data Sources: Provides a library of data sources for identity record checks, watchlist checks, and automated ongoing monitoring to help navigate Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
Onfido Studio
Onfido Studio is a no-code, drag-and-drop workflow builder that allows businesses to create, manage, and deploy customized identity verification journeys. Key components include:
- Workflow Builder: A visual interface for building and managing workflows, similar to flow charts or process diagrams, which automates smart decision-making without requiring developer involvement.
- Customized and Flexible Flows: Enables scalability to new markets and user requirements through flexible user verification flows.
Smart Capture SDK
The Smart Capture SDK enhances the user experience by reducing blur and glare in user images and supports NFC scanning to minimize user friction. This ensures high-quality images are captured, making the verification process smoother.
Atlas™ AI
Onfido’s award-winning Atlas™ AI is built with active bias mitigation and uses thousands of specialized micro-models to deliver fast, fair, and accurate identity verification results. It generates scores based on the similarity between the face and the photo ID and runs liveness checks to detect fraud attempts such as photos of screens, 2D and 3D masks, and image upload manipulation.
Additional Functionalities
Detection and Analysis
- Fraud Detection: Identifies patterns in common occurrences of fraud and monitors for anomalies in real-time.
- Alerts and Incident Reports: Alerts administrators when fraud is suspected or transactions are declined, and produces detailed reports on trends and vulnerabilities related to payments and fraud.
Administration and Compliance
- Blacklisting: Prevents previous committers of fraud from future transactions.
- Encryption and Audit Trails: Ensures all data transfers are encrypted using end-to-end encryption and provides audit trails to monitor usage.
- Regulatory Compliance: Complies with strong customer authentication regulations such as KYC, PSD2, and others.
Integration and SDKs
- Mobile SDK and Integrations: Offers integrations and software development kits (SDKs) for websites, applications, mobile apps, point-of-sale (POS) solutions, and kiosks.
- Device Intelligence: Analyzes device signals to identify risky IP addresses, malicious bot traffic, and rooted or emulated devices.
Summary
Onfido’s Real Identity Platform is a holistic solution that combines advanced AI-driven verification tools, customizable workflows, and robust fraud detection mechanisms. It is designed to streamline identity verification processes, enhance customer experience, and ensure compliance with regulatory requirements, making it an essential tool for businesses operating in the digital landscape.