LexisNexis, IDnow and Onfido both reveal biometric onboarding customers in fintech, e-commerce

by James · August 17, 2022

Selfie biometrics and digital ID onboarding providers continue to add customers amid strong market demand. Assetz Capital chose LexisNexis’ RiskNarrative platform for its financial crime procedures, PayRemit implemented IDnow for digital customer onboarding and Pets4Homes adopted Onfido’s know-your-customer biometrics.

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RiskNarrative distributed by Assetz

Fintech company Assetz adopted LexisNexis Risk Solutions’ RiskNarrative platform, which is built with technology acquired with TruNarrative a year ago.

The move will reportedly help Assetz improve its KYC and anti-money laundering capabilities, as well as deliver a productivity boost.

RiskNarrative will enhance Assetz’s onboarding, allowing the firm to run multiple KYC and AML checks from aggregated data sources simultaneously. It will also strengthen checks with document scanning and selfie biometrics along with improved fraud detection.

“It’s brilliant to see the RiskNarrative platform helping organizations of all sizes protect their customers from the effects of financial crime.

“I am pleased that we can support their adoption processes, especially when the cost of compliance is at an all-time high,” said Edward Vaughan, banking expert at LexisNexis.

The move comes months after LexisNexis Risk Solutions acquired BehavioSec to bolster its anti-fraud detection capabilities with passive behavioral biometrics.

IDnow selected by PayRemit

Mobile e-commerce app PayRemit has signed an agreement with IDnow to provide automated identity verification with selfie biometrics for onboarding PayRemit customers in the Middle East.

The company’s software enables low-income households to purchase goods through low installments.

Customers will be able to complete the onboarding process using AutoIdent, IDnow’s automated, AI-powered identity verification.

“PayRemit offers an important service for workers who play such a crucial role in the UAE economy,” said Basil Macklai, Head of Middle East at IDnow. “Our collaboration will ensure secure, world-class digital proof of identity that makes it much easier for customers to create an account and streamline approvals for business.”

IDnow is also focusing on expanding its UK business, having hired Mike Kiely as financial services sales director last month.

Pets4Homes uses Onfido biometrics

Pets4Homes, an online pet marketplace, acquired Onfido’s biometric verification services to increase trust and provide more transparency when purchasing pets.

Since launched in 2019, it initially focused on cats and dogs, but is now growing into other pet segments. As it planned its expansion, Pets4Homes decided to purchase Onfido’s services last month for KYC.

Now, breeders who complete Onfido’s biometric verification process will receive a breeder verification badge, displayed on their advertiser profile on Pets4Homes.

The process requires customers to take a selfie and upload an image of a document. If the two match, the badge is issued.

“We do not store the documents you submit in our system. They are sent directly to our ID verification provider Onfido, where they are handled securely.”

A few weeks ago, Onfido launched a bug bounty program to ensure the security of its selfie biometrics and identity verification platform.