TransferGo and Onfido Partner for Fast and Frictionless Money Transfers
9th August 2018, LONDON: Leading identity verification provider Onfido today announces that it has partnered with global remittance company TransferGo, to help accelerate their growth. Onfido’s machine learning-based identity verification technology will allow TransferGo to rapidly and securely onboard new users as it continues its global expansion.
Headquartered in London, TransferGo has built a much loved brand amongst today’s global citizens, based on transparency, trust and user experience. They have more than 650,000 users and are growing 100% yoy (with 1,000 new customers added each day), having completed $1bn in money flow. Their USP is speed, as the only Pan-European money transfer company that can guarantee your money will reach its destination within 30 minutes.
Through a combination of superior technology and a very broad network of banking partnerships, TransferGo now offers transfers between 47 countries worldwide, and this month became the first remittance company in the world to offer a cryptocurrency trading facility with customers now able to purchase and sell five major cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin.
With people frequently moving between countries and globalisation evident across all demographics, TransferGo have partnered with Onfido to help them meet the consumer finance challenges of today’s global citizens, securely and at scale.
Onfido’s machine learning technology automates identity verification to enable speedy, secure and scalable user onboarding. TransferGo users simply take a selfie and a photo of their identity document; Onfido’s technology then compares the two faces to ensure they are the same, and cross references the identity against international watchlists.
Daumantas Dvilinskas, CEO of TransferGo, said:
“Onfido enables us to deliver the swift service our customers expect, without compromising on security. Their risk-based approach means we can confidently verify our users, and don’t have to add unnecessary friction where it’s not needed. Onfido’s support is imperative to our international growth, and we’re confident that they’ll continue to help us strengthen our position into the future.”
Husayn Kassai, CEO of Onfido, said:
“We’re proud to be supporting TransferGo as they enter their next phase of growth. As a RegTech, we know how critical a smooth, secure and speedy onboarding process is for users, and look forward to helping TransferGo deliver that to new global markets and across new products.”
Onfido helps businesses digitally onboard new users. Using machine learning technology, Onfido validates a user’s identity document and compares it with their facial biometrics. The identity can then be cross-referenced against international credit and watchlist databases. Founded in 2012, Onfido has received over $60m in funding from investors including Microsoft Ventures, Salesforce Ventures and Idinvest Partners. Onfido carries out checks in 192 countries for global customers including Revolut, Bitstamp and Zipcar.
Founded in 2012, TransferGo is the fastest, most reliable, remittance company in Europe and the only Pan-European money transfer company that can guarantee your money will reach its destination in 30 minutes. We put the customer first and deliver transparency, and by prioritising customer experience, we’ve built a brand that thousands of clients trust and a product they love (rated Excellent on Trustpilot, with 96% 5* reviews NPS of 83) our vision is to make international financial services pain-free and without artificial borders.
Founder and CEO Daumantas Dvilinskas was included in the 2017 Forbes 30 under 30 and the company was recently nominated for “Fastest Rising Startup of the Year” at TechCrunch Europa Awards 2018.