Onfido targets the unbanked with machine learning

Onfido's proprietary technology verifies that people are who they claim to be simply by comparing an identity document to a selfie, and is helping convert the previously unbanked for a number of leading FinTechs. Almost 40% of the world's adult population is excluded from opening a bank account, most often due to having thin credit files, or being new migrants without the requisite documents needed for in-person verification and legally required Anti-Money Laundering checks. Onfido solves this issue using a combination of a highly sophisticated document check alongside a Facial Similarity Check. Onfido's Machine Learning-based solution has the benefit of being able to scan and compute identity documents more easily and more accurately than other technology. Typically requiring complex and expensive hardware to complete accurate image capture (like airport scanners), Onfido's Machine Learning technology can accurately identify documents that have been uploaded using commodity technology like scanners and lower-res smartphone cameras.