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Remitly partners with Onfido for a faster, easier way to make global money transfers


Identity verification provider enables secure online payments at speed

28th September 2018, San Francisco and Seattle: Identity verification specialist Onfido today announces that it has partnered with leading global remittance platform, Remitly. Onfido’s AI technology helps Remitly swiftly onboard new users to its platform, without running the risk of fraud or financial crime.

Launched in 2011, Remitly is the largest independent digital remittance company in North America and is also available across twelve European territories, Canada and Australia. Remitly serves immigrant communities around the world by helping them transfer money internationally quickly and cost-efficiently; annually, over $6 billion is transferred through the platform.

For Remitly, meeting compliance requirements without sacrificing the speed its users expect was key. Remitly chose to partner with Onfido to deliver frictionless ID record checks to its users around the world. Thanks to Onfido’s AI-based technology, KYC processes can now be rapidly completed for new users wishing to join the platform; for those requiring further assurance, a document check can also be performed. This cascade approach enables Remitly to scale to meet customer demand without compromising on either speed or security.

With users around the world accessing the platform every month, high pass rates were a deciding factor for Remitly. Onfido consistently outperformed other providers in this respect, resulting in less user drop-off and greater conversions for Remitly.

Nate Spanier, VP Global Payments and Expansion at Remitly, said: “Onfido’s superior speed, solid match rates and customisable checks have enabled us to rapidly scale into new markets, and add more users to our global community. Our users expect to be able to make and receive payments quickly and easily, and Onfido helps us to deliver on that promise without adding friction to their journey. They also give us the assurance we need that our users are who they claim to be, and that’s invaluable as Remitly continues its global growth.”

Husayn Kassai, CEO and co-founder of Onfido, said: “In a digital age, users need smooth, swift and secure access to services. But delivering that can be a challenge for financial businesses who are subject to complex regulations. We understand that challenge, and are very excited to be working with Remitly to deliver a frictionless experience to their users around the world.”

About Onfido
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 M12Salesforce Ventures and Idinvest Partners. Onfido carries out checks in 192 countries for global customers including Indiegogo, Bitstamp and Zipcar.

www.onfido.com
www.facebook.com/onfido
www.twitter.com/onfido

For further press information or enquiries, please contact Niamh Cassidy at niamh.cassidy@onfido.com or (+44) 20 8133 3628

About Remitly
Remitly is an independent digital remittance company that transfers over $6 billion in annualized volume through its proprietary global money transfer network across Africa, Asia, Central, and South America. Its reliable and easy-to-use mobile app makes the process of sending money faster, easier, more transparent and less costly by eliminating the forms, codes, agents, extra time and fees typical of the traditional, century-old money transfer process. Remitly is backed by industry-leading investors, World Bank’s International Finance Corporation (IFC), Naspers’ PayU, Silicon Valley Bank, Stripes Group, DFJ, DN Capital, QED Investors, Trilogy Equity Partners, Bezos Expeditions, Founders’ Co-Op, and TomorrowVentures. The company is headquartered in Seattle, with additional offices in London, the Philippines, and Nicaragua. For more information, visit remitly.com.

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