SAN FRANCISCO--(BUSINESS WIRE)--One, the Sacramento-based digital banking service aimed at driving financial wellness for middle income households today announced a partnership with Onfido, the global identity verification company, to verify the documents provided by customers and accelerate onboarding.
One’s all-in-one banking platform supports customers’ unique lives, so they can spend while saving more, and easily share money using a single account.
By integrating Onfido’s AI-powered identity verification, One customers can validate the authenticity of their government-issued identity document (ID) by simply taking a photograph. Onfido first checks that the ID is genuine and then matches it to the user’s face. This process checks that the person presenting the identity is its legitimate owner and is physically present.
“We decided to partner with Onfido as we needed a document verification solution that would enable us to scale quickly as we grow into new markets beyond the US,” said Brent Baker, COO at One. “Onfido helps automate much of our KYC process and was incredibly easy to integrate into our existing tech stack, making things not only smoother for our end-users, but also for our internal operations and risk team.”
“Today’s consumer expects a simple digital experience when applying for a banking service online. And making the identity verification process seamless and secure is a critical component of this,” said Kevin Trilli, Chief Product Officer of Onfido. “We enable businesses like One to scale and comply with regulations while detecting and preventing identity fraud. We’re delighted to be partnering with One to provide these services to complement its digital-first approach to banking.”
One, a digital banking service, launched in 2019 and is based in San Francisco and Sacramento. With $26 million in venture capital backing from Foundation Capital, Core Innovation Capital, and Obvious Ventures, One has been able to assemble a world-class team of banking and tech innovators. One is improving how people bank with a suite of unique tools that help customers manage their money more intuitively. Customers can save, spend, borrow, and share from a single account.
One provides banking services via a partnership with Coastal Community Bank, Member FDIC.
Onfido is setting the new standard for digital access. The company digitally proves a user’s real identity using artificial intelligence (AI), by verifying a photo ID and comparing it to the person’s facial biometrics. This means businesses can see their customers for who they are, without compromising on experience, conversion, privacy or security. That’s how Onfido gives companies the assurance they need to onboard customers remotely and securely.
Recognized as a global leader in AI for identity verification and authentication, Onfido is backed by TPG Growth, Crane Venture Partners, Salesforce Ventures, M12 - Microsoft’s venture fund, and others. Onfido has raised $200m in funding, and with 400 team members across seven countries, is enabling digital access for some of the largest companies around the world.