Monese partners Veriff to strengthen digital security
UK-based money app Monese has partnered with global identity verification provider Veriff to boost the security of its digital banking services.
Launched in 2015 as a mobile app alternative to traditional banks, Monese currently provides banking services for accounts across 31 European countries.
The neobank will use Veriff’s tech to onboard and authenticate the identity of customers to help it meet KYC requirements and prevent identity fraud.
To prove their identity, users take a photo of their government ID and a live selfie, which is then matched with the ID.
Atul Choudrie, CCO at Monese, says: “Working in partnership with Veriff, we are unlocking new possibilities in delivering a safe and efficient onboarding experience that will help us reach more customers.”
Also founded in 2015, Veriff serves a global portfolio of organisations across fintech and crypto.
“This partnership with Monese strengthens our position in the UK’s highly competitive digital banking market,” says Janer Gorohhov, co-founder and chief product officer at Veriff.
“We’re excited to aid Monese in its mission to provide access to fair, flexible financial services and support while minimising friction as we simultaneously expand our organisation’s footprint in the UK via our customer base and team.”
With digital payments on the rise and an increased focus on security for both consumers and vendors, a number of firms have been looking to forge forward with new identity verification solutions.
Earlier this week, payment giants Mastercard and Visa entered new partnerships focused on biometric identity authentication, while Stripe also launched its own verification offering called Stripe Identity.