Onfido Acquires EYN to Present Acoustic-Primarily based Liveness Detection

SAN FRANCISCO AND LONDON, Oct 26, 2021 — Onfido, the worldwide identification verification and authentication supplier, as we speak introduced one other record-breaking quarter, with a 93% enhance year-to-date (YTD) in international income and 100% progress in yearly recurring income (ARR). The corporate additionally introduced its acquisition of biometric innovator, EYN whose industry-first acoustic liveness know-how will likely be included into Onfido’s Actual Identification Platform with its staff becoming a member of Onfido’s analysis and biometrics groups.

This robust momentum was pushed by continued progress in U.S. and APAC areas and elevated demand by monetary companies and mobility firms trying to scale up their distant buyer onboarding. Onfido additionally strengthened its management staff throughout Q3 with two strategic hires together with Faisal Chughtai who joins as Chief Monetary Officer (former CFO of Inxeption and Government Director at JPMorgan Chase) and Nello Franco as Chief Buyer Officer (former Managing Director of Buyer Operations at Vista Consulting Group and SVP Buyer Success at Talend).

“We’re excited to announce one other report quarter powered by robust U.S. and APAC progress, as companies rising from COVID-19 notice the advantages of digital-by-default buyer acquisition methods,” stated Mike Tuchen, CEO of Onfido. “As we proceed to extend our funding in analysis and growth to fill out our arsenal of instruments to combat fraud, we’re happy to welcome the EYN staff to the Onfido household. By combining their LiveProof anti-spoofing know-how with our current image-based liveness detection, we’ll be capable of provide a liveness product that’s unmatched within the {industry}. ”

Because the onset of the COVID-19 pandemic, there was a 60% enhance in shoppers accessing on-line companies, from banks to insurance coverage firms and retail. Extra shoppers on-line have led to extra cybercriminals making an attempt to arrange pretend accounts by impersonating reliable prospects. Liveness detection know-how from Onfido and EYN goals to stamp this out by making certain doc and biometric checks are submitted reside and that pictures or deepfakes can’t be used to spoof reliable customers.

“We’re thrilled to affix Onfido to assist form the way forward for on-line identification verification and permit extra folks to realize entry to the very important companies they want,” stated Dr. Sheikh Faridul Hasan. “We share the identical philosophy as Onfido: constructing belief and safety at onboarding and all through the client journey doesn’t imply that firms must compromise on person expertise or fraud detection.”

EYN’s industry-first anti-spoofing know-how makes use of audible sound and ultrasound wavelengths from a cell gadget to actively probe for the presence of a reside particular person, very like a sonar system. Its patented LiveProof know-how will likely be included into Onfido’s Actual Identification Platform, strengthening current image-based biometric anti-spoofing capabilities to provide prospects larger assurances that their remotely onboarded customers are who they are saying they’re.

“As we transfer to our subsequent section of progress, I’m additionally excited to welcome two US-based {industry} veterans to our government staff. Faisal brings 20+ years’ expertise as a CFO, GM and Funding Banker for web and software program firms, rising companies at scale, and deep expertise with IPO, financing and M&A methods. Nello, becoming a member of as CCO, has suggested Vista’s $70B enterprise portfolio firms, and remodeled public firms into customer-first organizations. His function at Onfido will drive cross-functional initiatives throughout the corporate to make sure our advertising, gross sales, and customer-facing groups talk, promote, and ship the worth that we promise to our prospects.”

Different notable achievements in Q3:

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