Onfido named as a ‘Market Leader’ in KuppingerCole’s 2022 Market Compass: Providers of Verified Identity
Onfido Real Identity Platform receives 5 out of 5 ratings for Security, Functionality and Usability
SAN FRANCISCO & LONDON–(BUSINESS WIRE)–Onfido, the leading global provider of automated identity verification and authentication solutions, today announced that it has received the ‘Market Leader’ distinction in the KuppingerCole Market Compass for Providers of Verified Identity 2022, alongside Experian, IDEMIA, Microsoft and Ping Identity.
“We’re honored to be recognized as a Market Leader and for our product capabilities by one of the industry’s most prestigious analyst firms,” said Mike Tuchen, Chief Executive Officer. “We pride ourselves on being able to offer the best, global, automated identity solution on the market that simplifies identity for our customers and provides a seamless user experience built with privacy, anti-bias and security at its core.”
“Onfido is a known name in providing remote identity verification, and is expanding to serve more aspects along the identity lifecycle,” wrote Annie Bailey in the KuppingerCole Market Compass report. “Onfido has made strides in establishing the smooth user experience of remote identity verification, using in-house technology for both document verification and biometric verification.”
Launched in May, the Onfido Real Identity Platform reduces the complexity of sourcing and managing multiple identity verification vendors to meet local and global compliance regulations and can more easily mitigate fraud threats in an increasingly global marketplace. Hailed by companies like TSB Bank, Orange Poland, and Chipper Cash, the Onfido Real Identity Platform helps global companies reduce friction for customers with features like its Smart Capture SDK, while giving companies the flexibility and freedom to scale with Onfido Studio, the no-code mission control that allows orchestration of custom workflows for unique customer journeys.
Onfido is uniquely positioned to be a market leader in the identity verification and fraud prevention industry, having completed over 500 million checks to date, supporting over 2,500 documents in 195 countries for its 900+ customers.
The Market Leadership designation is derived through an amalgamation of the number of customers, number of transactions evaluated, ratio between customers and managed identities/devices, the geographic distribution of customers, the size of deployments and services, the size and geographic distribution of the partner ecosystem, and financial health of the participating companies.
Onfido scored 5/5 for product Security, Functionality and Usability and 4/5 for Deployment and Interoperability. KuppingerCole highlights several key Onfido strengths that influenced their review:
- Certified ISO 27001 and SOC 2 Type II compliant
- WCAG 2.1 compliant with accessibility SDKs and considerations for users with disabilities
- Strong go-to-market model using a partner ecosystem to introduce them to a specified geography or market
- Worked with the ICO in its Regulatory Sandbox on compliant handling of training data
- Cross-checks documents against proprietary compromised document database
- Onfido technology is integrated in many other identity verification solutions
- Uses in-house technology for both document verification and biometric verification
- Launched new active liveness solution in September 2022
The Leadership Compass Providers of Verified Identity 2022 analyzes digital identity solutions that perform identity proofing and verification or enable a verified digital identity to be imported and easily reverified. The Leadership Compass compares full-service verified identity providers or vendors that conduct digital identity verification alongside providing several of the identity lifecycle stages. As defined by KuppingerCole. This could include: Vetting/Proofing, Registration, Authentication, and additional services such as fraud reduction, electronic signing, attribute verification and orchestration.
This accolade builds on a growing list of awards won this year by Onfido including the Cyber Security Breakthrough Award for ‘Security Orchestration Product of the Year,’ CB Insights FinTech 250, G2 – Identity Verification Leader, CogX’s Best AI Product in Fintech, as well as being shortlisted for the UK Tech Awards, British Legal Awards, and FinTech Futures Banking Tech Awards. Last year, Onfido was awarded ‘Outstanding in Biometric Data Analysis’ for the 2021 KuppingerCole Market Compass for Providers of Verified Identity.
Onfido makes digital identity simple. The company makes it easy for people to access services by digitally verifying them using its Real Identity Platform. The platform allows businesses to tailor verification methods to individual user and market needs in a no-code, orchestration layer – combining the right mix of document and biometric verifications, trusted data sources, and passive fraud signals to meet their risk, friction and regulatory requirements. Onfido Atlas™ AI powers the platform’s fully-automated, end-to-end identity verification. Developed in-house for over 10 years, it’s how Onfido ensures its analysis is fair, fast and accurate.
Recognized as a global leader in AI for identity verification and authentication, Onfido is backed by TPG Growth, Idinvest Partners, Crane Venture Partners, Salesforce Ventures, M12 (Microsoft) and others. They partner with over 900 businesses globally to help millions access services every week – from billion dollar institutions to hypergrowth start-ups.
Onfido: Paul Jarratt