Today, we announce our partnership with Onfido, the global identity verification provider, to seamlessly verify and connect UK and European citizens to a thriving Bitcoin market.
Through this partnership, we expand our network of industry-leading financial technology partners, each sharing our core values of security, compliance, and technological innovation. By using Onfido’s AI-enabled verification technology, during our users’ 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. That way, at Mode we are able to verify applications and users anywhere, anytime, with the highest degree of compliance with KYC requirements.
In addition to identity verification, we have 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 our users to navigate complicated onboarding procedures, providing a frictionless user experience.
“Creating a seamless user experience has been critical in the makeup of our mobile application,” said Janis Legler, our Head of Product and Partnerships. “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.”
“We are excited to be supporting Mode’s aim to build a truly secure and efficient digital banking app,” said Husayn Kassai, CEO and co-founder at Onfido. “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.”