Onfido, the main international supplier of automated identification verification and authentication options, in the present day introduced its partnership with HYPE, the main Italian neo financial institution, to automate buyer onboarding and enhance person expertise for HYPE’s cellular app.
Launched in 2015, HYPE is driving each day banking to the last word stage in simplicity and buyer expertise for its 1.7 million prospects, providing digital funds, third celebration companies and an completely on-line account that makes private finance administration good and quick. By means of their cellular app and Mastercard services, HYPE gives a spread of economic companies together with P2P and invoice funds, transfers, financial savings administration, cashback program, along with different banking companies supplied in collaborations with companions corresponding to prompt credit score, private loans, deposit accounts, insurance coverage and funding funds. With the growing variety of customers onboarding, HYPE wanted an identification verification supplier that may automate its verification course of, verifying end-users precisely in minutes with a safe and seamless person expertise that detects and mitigates fraud.
The partnership has had fast outcomes, decreasing doc verification time from 24 hours to only a few minutes. To confirm their identification to sign-up for HYPE’s companies remotely, customers merely take a photograph of their government-issued identification doc (ID) and take a brief selfie video. Onfido first checks that the ID is real and never fraudulent after which the biometric know-how matches the photograph on the ID to the facial biometrics captured in the identical stream. This ensures the particular person presenting the identification is its legit proprietor and is bodily current. HYPE has designed a hybrid of computerized and handbook checks leveraging Onfido’s platform for automation, bettering person expertise whereas retaining low operational prices.
HYPE customers can begin their digital journey wherever, anytime, by way of a easy and user-friendly on-line expertise that additionally protects in opposition to fraudulent makes an attempt.
“HYPE works diligently in the direction of making a personalised, easy and environment friendly manner for buyer’s banking wants, providing a substitute for conventional banking fashions,” mentioned Luca Grampioggia, CEO at HYPE. “Our integration with Onfido means we are able to provide customers an unparalleled banking expertise beginning at onboarding. Velocity shouldn’t be solely a aggressive differentiator but additionally a particular want of our prospects that may now depend on a faster course of to onboard HYPE with the data that their info is safe.”
“We’re proud to assist HYPE’s forward-thinking mission of making a simplified solution to join folks and banks digitally,” mentioned Oliver Krebs, SVP of EMEA at Onfido. “With Onfido’s assist of over 2,500 identification paperwork, HYPE is ready to scale its enterprise whereas creating a quick and frictionless end-to-end digital course of for his or her customers. This partnership additional expands Onfido’s presence within the Italian market in addition to its ongoing mission to simplify identification globally.”