FINTECH TRANSFERGO BANKS ON ONFIDO FOR ONBOARDING: London-based remittance fintech TransferGo has partnered with leading identity verification provider Onfido to help it accelerate its global expansion. Onfido, which provides machine learning-based identity verification technology, will allow TransferGo to onboard new users securely with its selfie-based biometric enrollment. Founded in 2012, TransferGo has amassed more than 650,000 users and continues to add 1,000 new customers each day. Onfido’s simple and effective onboarding solution will not only allow TransferGo to sign up newcomers efficiently, but also will allow it to ensure compliance with know your customer (KYC) and anti-money laundering requirements. Given that TransferGo claims to be the only remittance company in Europe that can guarantee transfers within 30 minutes, Onfido’s automated, biometric onboarding system points to a good fit. The partnership is also indicative of the broader interest within the financial services industry in biometric enrollment technologies, as Onfido and others in this segment become increasingly in demand for their self-service solutions.