Volopa picks Onfido to securely scale its customer onboarding using AI-powered KYC


Volopa further enhances its customer onboarding procedures using cutting edge identity verification technology from Onfido to support growing demand for its new multi-currency prepaid cards.

6th September 2018, LONDON: Leading identity verification provider Onfido and payments and foreign exchange fintech Volopa today announce that they have partnered to deliver secure and scalable KYC capabilities. Using Onfido’s machine learning-based technology Volopa’s customer onboarding processes is significantly enhanced and simplified to support the increase in sales volumes.

Volopa operates consumer and corporate multi-currency prepaid card programmes using its proprietary platform and offers businesses the ability to provide their own branded card programmes which are powered by Volopa. Customers can hold and spend up to 14 local currencies on the cards. The cards automatically detect the local currency when making purchases at merchants or ATMs abroad and use the local currency for the transaction with no additional conversion or foreign transaction charges typically associated with using debit or credit cards abroad. Customers can also spend in any other currency as long as they have the base currency on the cards. The cards come with secure and intuitive mobile and web based applications enabling customers to seamlessly manage their cards, monitor and control their expenditure on the go. This includes the ability to see transactions in real time, instantly top up and exchange currencies 24/7, block cards and transfer funds between cards.

Signing up for the card usually take less than 5 minutes based on the new customer onboarding process developed with Onfido.

Onfido’s machine learning technology automates identity verification to enable speedy, secure and scalable user onboarding. Customers wishing to sign up for the Volopa cards take a selfie and a photo of their identity document; Onfido’s technology checks that the identity document is genuine, compares facial similarity and cross references the identity against international watchlists.

Jay Wissema, Director at Volopa, said: “Volopa is excited to launch its new customer onboarding process which is another step forward in the company’s focus to maximise customer delight and deliver exceptional products at lower cost for our customers. A key strength of Volopa is our ability to deliver client branded cards which presents a unique advantage for Volopa in the marketplace where we are seeing strong demand for this proposition. In response to this Volopa looked at a number of providers in order to securely scale up its customer onboarding capabilities and decided on Onfido based on their cutting-edge technology and experience in the fintech sector. We look forward to working with Onfido and continuing to grow our businesses together.”

Husayn Kassai, CEO of Onfido, said: “We’re proud to be supporting Volopa as they grow. Balancing security against scale is a challenge for many businesses, but our machine learning technology means we’re able to help Volopa deliver both. We’re excited by their vision of putting people in control of their transactions and look forward to developing our partnership with Volopa.”

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 Revolut, 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 Volopa
Founded in 2011, Volopa is a London-based fintech authorised by the Financial Conduct Authority to offer payment services and is licenced by Mastercard® to issue cards across the European Economic Area (EEA). Volopa operates multi-currency prepaid card programmes and foreign exchange money transfer services for consumer and corporate clients based on its proprietary platform and enables businesses – including retail, travel and financial companies – the ability to offer their own branded cards and foreign exchange products powered by Volopa without the need for long development lead-times, regulatory approvals or complex legal arrangements.

www.volopa.com

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