Onfido partners with WORBLI to supply KYC/AML checks

RegTech 100 company Onfido has partnered with blockchain network WORBLI for KYC and AML compliance.

Onfido will supply its machine learning-powered identity verification services to WORBLI to help the company meet its KYC and AML requirements and to onboard new users on its platform.

By leveraging Onfido’s technology, WORBLI users will be able to verify their identity by simply taking a selfie and a picture of their identity document. The government document is verified first and the two images are compared for a match.

WORBLI is a financial services network which uses blockchain to enable enterprises and individuals to access financial services. Its platform will enable users to only need to complete a KYC or AML process once in order to access a wide range of services. Individuals using WORBLI will gain access to products such as insurance and loans.

WORBLI founder and CEO Domenic Thomas said: “Being a compliant financial framework, we require the highest standard. Onfido is incredibly diligent with all the data they deal with, and they’re big on GDPR and other regulations surrounding user data, which is vital for our requirements. Onfido uses machine learning and biometric technologies to mitigate the risks around customer onboarding, ensuring the most comprehensive identity verification possible.

“We have already begun the process of integrating the Onfido identity into our user account and it will be a feature available when we launch in November.”

Onfido uses machine learning technology to compare a user’s identity document with their facial biometrics. The identity can then be cross-checked against international credit and watchlist databases.

The company recently completed a partnership with global remittance company Remitly to help the company onboard new users to its platform.

Earlier in the month, Onfido was named in the RegTech 100 for the second consecutive year. The list is made up of the most innovative RegTechs that every financial institution needs to know about.

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