NOMINATION HIGHLIGHTS

Onfido offers enterprises the world’s best identity verification engine, enabling people to access online services easily and protecting them from identity fraud, and allowing businesses to onboard trusted customers quickly and securely. Onfido’s identity verification engine delivers a unique, AI and Machine Learning-based solution which increases conversion, reduces risk and cuts costs for businesses. A vast improvement on slow, manual and paper-based solutions, Onfido’s identity verification engine speeds up the KYC (“know your customer”) process, making identifying a customer as simple as holding a passport up to a smartphone, or filming a short selfie video.

Using machine learning technology, Onfido validates a person’s identity document and compares it with their facial biometrics. The key strength of Onfido’s proprietary technology is that it is built using machine learning, meaning with every document processed, the technology becomes more intelligent and robust. Once a pattern is recognised and learnt by the machine, it will scan every single subsequent document for this pattern. This means that one fraudulent document discovered may lead to many other unrelated documents being detected if they follow the same pattern. The software can therefore verify documents in a matter of seconds with the highest degree of accuracy, wherever in the world they are from.

Onfido’s longer term plans are to continually evolve its machine learning models to keep up with the latest fraud techniques. One such response is Onfido’s liveness product, which prompts a user not just to take a selfie, but to take a short 5 second recording of themselves where Onfido’s tech sets two random challenges, such as reading a set of random digits. Onfido can then use machine learning to verify that it’s a real-life human behind the camera and not a synthetic face image or a pre-recorded video.