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Onfido announces Compliance Suite identity verification

January 23, 2024

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Onfido - identity verification

Onfido has announced the launch of its Compliance Suite, an all-in-one identity verification solution that allows businesses to expand into new markets and meet local regulatory needs for customer onboarding. 

Onfido’s Compliance Suite introduces Qualified Electronic Signature (QES) and One-time Password (OTP) alongside no-code compliance workflows to its Real Identity Platform.  

The automated identity verification company says that businesses will no longer have to connect locally accredited services together and can instead bring all their local and global compliance needs under one provider and control centre. 

The idea is for businesses to focus on unlocking growth across Europe while mitigating fraud at the same time.  

Identity verification helps prevent fraud  

The addition of QES and OTP to Onfido’s ETSI-certified identity verification, which includes AI for fraud prevention and global document coverage, enables businesses to customise its onboarding workflows based on local regulatory requirements and boost customer conversions. 

The pan-EU offering has passed its conformity assessment board checks and will benefit Onfido’s customers across core European markets, including the UK, France, Italy and Romania, as well as aiding organisations expanding into those regions. 

Lemonway is expanding its partnership with Onfido to include the Compliance Suite to address regulation alongside other Onfido ETSI-certified identity verification solutions. 

“Onfido’s Compliance Suite will help us to meet local compliance regulations in all the countries we are expanding in while maintaining a consistently high-quality user experience that our customers have come to expect,” said Jeremy Ricordeau, Chief Operating Officer at Lemonway.  

“With Onfido, we are now able to build a high-performing, secure and convenient onboarding experience that will unlock our ability to scale across multiple geographies quickly.” 

QES is a digital signature that is created using signals unique to the signer and is backed by a qualified digital certificate.  

Having the signature tied to the certificate provides a reliable means to confirm the identity of the person associated with the signature.  

It protects the documents against tampering or forgery in a secure way that has the same legal enforceability as a handwritten signature.  

Aids expansion for users  

QES augments Onfido’s core AI-powered platform, which matches an official identity document with a selfie using biometric verification, by bringing together all the identity verification capabilities into a single solution. 

Through Compliance Suite, Onfido can help customers conduct high-risk agreements, such as payments, loans and mortgages and address Know Your Customer (KYC) & Anti-Money Laundering (AML) requirements in core EU markets. 

“Onfido’s Compliance Suite eases the regional compliance headache and delivers a one-stop-shop compliance offering that allows leaders to focus on their expansion, register customers faster and remain agile to future regulatory demands,” said Yuelin Li, Chief Product Officer at Onfido.  

“Locally accredited verification solutions typically solve regulatory needs for just one market and often add unnecessary friction to the onboarding process, causing frustration and delaying user acquisition.” 

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