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Home Vendor Technology

Bitcoin bank app Mode selects Onfido for user verification and compliance

Published by CryptoNinjas.net
02/11/2020
Bitcoin bank app Mode selects Onfido for user verification and compliance

Global identity verification provider Onfido and Mode, a new UK mobile banking app for everyday investors to buy, store and manage Bitcoin, have announced their partnership, empowering Mode’s mobile application to seamlessly verify and onboard UK and European citizens to the app.

Through the new partnership, Mode expands its network of financial technology partners, each sharing Mode’s core values of security, compliance, and technological innovation. By using Onfido’s AI-enabled verification technology, during its customers’ onboarding and ‘Know Your Customer’ (KYC) process, applicants simply take a photo of their government-issued ID and a selfie; Onfido checks the ID seems genuine and matches it to the user’s face. This ensures the person presenting the identity is its legitimate owner and is physically present. Mode is able to verify applications and users anywhere, anytime, with the highest degree of compliance with KYC requirements. 

“Creating a seamless user experience has been critical in the makeup of our mobile application. We are proud to work with Onfido, who closely align with our values and ambitions in this evolving space. Since inception, Onfido has been a true pioneer in the “RegTech” field, bringing credibility to the industry as a whole through its best-in-class AI-driven approach. We are thrilled to be able to show the world how we have integrated this solution and how it provides a unique user experience.”
– Janis Legler, Head of Product and Partnerships at Mode

In addition to identity verification, Mode has worked with Onfido to simplify and automate one of the biggest pain points in fintech: the address verification process. This will reduce the need for Mode customers to navigate complicated onboarding procedures.

“We are excited to be supporting Mode’s aim to build a truly secure and efficient digital banking app. We bring trust to digital interactions worldwide, securely verifying a user identity at the onboarding and ongoing management of that identity. Service providers shouldn’t have to compromise on user experience or security, and we’re thrilled to be working with Mode who demand both as they build a next-generation financial ecosystem.”
– Husayn Kassai, CEO and co-founder at Onfido

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