Admirals, a renowned name in the online trading industry, has announced a strategic partnership with Onfido, an England-based identity verification platform. This decision is aimed at streamlining the company’s client verification process and enhancing user experience as well as security.
Onfido’s advanced document and biometric verification tools will play a pivotal role in assisting Admirals in authenticating user identities accurately and promptly. The technology will also aid in detecting fraudulent activities, thereby bolstering the protection of user information and reinforcing trust in the platform’s transactions.
This move will primarily benefit Admiral’s European clients, who will now experience swift and secure identity verification, thanks to Onfido’s sophisticated solutions. The integration aims to expedite European customers’ access to trading and investing services offered by Admiral Markets Cyprus Ltd, the company’s online investment service provider.
Onfido offers a range of solutions, including document verification and facial biometric verification. These technologies are particularly relevant in sectors such as finance, where security is of utmost importance. By integrating these solutions, Admirals is positioning itself at the forefront of secure online trading and investing.
The collaboration between Admirals and Onfido also signifies a major step for the latter in expanding its reach in the financial sector. The identity verification platform recently partnered with Wearonize, a Fintech as a Service provider, to streamline and secure customer onboarding.
As the world of online trading continues to grow, the need for robust security measures becomes increasingly crucial. This partnership represents a proactive approach to addressing this need. It demonstrates Admirals’ commitment to providing a secure and user-friendly platform for its clients.
This partnership is set to revolutionize the way Admirals handles client verification. It is expected to reduce the time taken for verification significantly, allowing traders to start trading sooner. This will not only enhance the user experience but also help Admirals retain and attract new clients.
Furthermore, the integration of Onfido’s technology will strengthen Admirals’ security framework. The advanced biometric verification technology will enable Admirals to detect and prevent fraudulent activities more effectively, thereby safeguarding their users’ funds and personal information.
Onfido’s facial biometric verification technology uses artificial intelligence to verify a user’s identity by comparing a selfie taken by the user with the photo on their ID document. This not only ensures that the person is who they claim to be but also checks that they are physically present during the verification process.
The partnership between Admirals and Onfido is a clear indication of the growing importance of digital identity verification in the financial services sector. With the increasing number of online transactions, companies are under pressure to ensure secure and seamless customer experiences.
For Onfido, this partnership will enhance its presence in the financial sector and highlight its capabilities as a leading provider of identity verification solutions. The company has been gaining significant traction in the Fintech industry through partnerships with various companies.