Onfido: Game-changing digital identity verification
Digital identity verification has become a cornerstone of web security. From setting up a bank account to hiring an electric scooter, we are now accustomed to the convenience of accessing services remotely. But this convenience brings with it the risk of fraud, and it is critical that the methods used for remote identity are accurate and secure.
Oxford startup Onfido’s AI-powered Real Identity Platform allows customers to orchestrate award-winning document and biometric verifications, as well as providing vital fraud detection signals.
Co-founders Eamon Jubbawy, Ruhul Amin and Husayn Kassai – former students at Oxford’s Saïd Business School – launched the company in 2012 through through our Incubator. In 2023/24, Onfido helped prevent $3.9 billion in fraud losses for its global client base, bringing widespread benefits to the economy and wider society.
Onfido Motion – a next-generation facial biometric technology – verifies 90% of Check’s customers in under 15 seconds, empowering the business to onboard more customers, more quickly, while significantly reducing fraud exposure.
In April 2024, Onfido was bought by global security company Entrust Corp, marking the highest-value return to date on an Oxford University investment for a student-led start-up. The return received by OUI will be reinvested in OUI’s Incubator programme to provide more opportunities for student and staff entrepreneurs to train, collaborate and develop more game-changing companies.
Using Onfido platform, it’s very clear to our customers what is being asked of them when being verified. It enables them to set up an account in seconds and be on their way on one of our scooters, while enabling us to keep operating costs low and run efficiently as an agile and high-growth business.
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