Simplex selects Onfido to power secure identity verification, automating 70% of customer verifications - PCR (2024)

Simplex is partnering with Onfido to verify customers on its banking service and payment processing platform.

Simplex users can sign up by simply taking a photo of their government-issued identity document (ID) and taking a selfie or a selfie video. Onfido first checks that the ID is genuine and runs checks against Politically Exposed Persons (PEPs), sanctions watchlists and credit databases for financial regulatory compliance. Then, with biometric recognition technology, Onfido checks that the ID matches the user’s face. This ensures the person presenting the identity is its legitimate owner and is physically present. Users can start their digital journey anywhere, anytime, through a simple and user-friendly online experience that meets regulatory requirements.

“Simplex, a Nuvei company, has a forward-thinking approach to digital banking that puts fraud prevention and compliance at the centre,” says Oliver Krebs, Senior Vice President EMEA at Onfido. “We’re pleased to support them in achieving this digital initiative, realising gains in customer experience, operational efficiency, and risk prevention. Onfido’s technology brings trust to digital transactions worldwide, with leading UX practices from auto-capture technology through to live user feedback, customers can go from ‘I’ve never been through a process of verifying my identity online’ to ‘verified without delay.”

“We care a lot about risk, from both a product and cultural perspective. It’s why we offer a 100% chargeback guarantee for customers,” says Erez Ben Ezra, VP Global Expansion at Simplex, a Nuvei company. “Onfido gives us confidence in the customers we onboard, doing so in a way that enables us to capture an omnichannel audience without burdening our manual teams at scale.”

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Further to the increased demand, we’re also seeing the dividends of our multi-year investments into advanced systems and business automation as we continue to record double digit growth despite the global product supply constraints.”