- OneID® is an identity verification programme, allowing people to complete ID checks within 12 seconds.
- With identity fraud on the rise, OneID® makes onboarding safer, quicker and more affordable than other options on the market.
- With 50 million adults already on the server, it is already helping major banks with ID verification.
Website: www.oneid.uk
What is OneID®
OneID® is a digital identity verification company, allowing companies and individuals to complete ID checks in under 12 seconds.
The platform helps banks and other institutions cut down on lengthy forms, allowing them to implement identity verification tech that actually works.
As businesses look for better ways to prevent fraud, without expensive and lengthy processes, OneID® helps by delivering a quick and accurate digital identification. Customers simply register with the platform and are able to re-use their digital identity across a number of platforms.
Founded in 2018, the company has gone from strength to strength, partnering with top banks like RBS and Natwest and recently securing over £16 million in investment to grow the service.
With 50 million adults on the server and over 29 banks already signed up, it’s definitely creating simpler and more efficient ways to prevent online fraud.
What Makes OneID® Unique?
OneID® is unique as it’s currently the only UK identity service with access to bank-verified data. This data, which belongs to 50 million people, covers around 96% of UK adults, meaning they are already set up for real-time verification.
Unlike other companies that rely on customers to sign documents or use facial recognition, OneID® allows them to be verified in under 12 seconds, without compromising on security.
OneID® is also regulated by the Financial Conduct Authority (FCA), showing that it is committed to secure and fair practice.
By combining secure verification with cost-efficiency and time saving technology, it helps business reduce the risk of identity theft through their systems.
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Is There A Market For Digital Identity Verification?
As cases of fraud and identity theft continue to rise, finding secure, reliable and cost-effective digital identity verification is incredibly important.
The global digital identity solutions market is projected to reach $70 billion by 2027 (Globe), driven by the need for more companies to stay secure and compliant.
And with reports of identity fraud cases going up by 41% post-pandemic (Veriff), the need for accurate identity verification is stronger than ever.
To add an extra layer to this, GDPR has meant businesses have to have stronger data storage in place. It’s not just about prevention anymore, it’s about how you store data, what type of data you store and how to make sure your operations are as secure as possible.
By combining compliance with accurate and quick ID verification tech, the company is helping businesses build more secure operations.
What Key Products Does OneID® Offer?
- Identity verification: Instant ID verification in under 12 seconds.
- Customer onboarding: From bank-verified data.
- Age verification: Real-time age checks, useful for gambling and alcohol businesses.
- eSigning: Legally binding electronic signatures.
- DBS checks: For HR processes.
