Digital identity verification platform Onfido has partnered with RVshare to improve trust levels during peer-to-peer vehicle sharing.
Through the deal, Onfido will provide its AI technology to RVshare in order to lower fraud and help establish trust between the community of vehicle lenders and borrowers.
Founded in 2013, RVshare is a network for 60,000 RV owners across the US which rent their trailers and motorhomes to travellers around the country.
“The superior level of trust, security and smooth user experience delivered by Onfido was a key deciding factor for choosing Onfido,” said Director of Business Development Taher Hassonjee. “This is the next step as we continue with our commitment to deliver a safe and trustworthy environment for owners and renters.”
This partnership comes at a very active period for Onfido. The company recently opened an office in Paris and revealed it would initially inject €4m to support the platform’s presence in France.
Alongside the launch of operations in the country, the RegTech formed partnerships with local startups car rental company Europcar Mobility Group and eIDAS certified registered electronic mail provider AR24 as customers.
Onfido CEO and co-founder Husayn Kassai said, “In an online world, it’s increasingly difficult to build trust – but it’s crucial to the success of businesses in the sharing economy. We’re delighted to be helping reduce fraud for RVshare without adding friction for their community of users and look forward to supporting them as they scale.”
London-headquartered Onfido uses machine learning technology to validate a user’s identity document and compares this with facial biometrics. These pictures are then cross-referenced against international credit and watchlist databases.
Last year, Onfido was selected for the RegTech 100, for a second year in a row. The list compiles all the RegTech companies every financial institution should know about in 2019.
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