Onfido, the global identity verification platform, and ForgeRock, the leading provider in digital identity, announced a partnership to integrate Onfido’s combined Digital Registration, Identity Verification and Authentication solutions to ForgeRock’s CIAM platform.
Together these tightly integrated services reduce friction for customer registration and onboarding, creating a single identity profile that can be leveraged across an organization’s entire digital estate.
This Digital Access as a Service (DAaaS) can be used for authentication at many different points in the digital customer journey. Knowing a customer’s true identity from the start allows businesses to provide a more personalized customer experience while protecting them from fraud.
Onfido’s award-winning Identity Verification service enables document first onboarding which verifies new users from their first interaction with 98.7% of fraudulent applications detected. To achieve this, Onfido uses the best combination of human analysts and machine learning to check for data consistency across the ID, performing image analysis, and detecting anomalies in fonts.
For high-risk transactions or ongoing authentication (for example, money transfers or password resets), a self-service step-up verification / authentication is available that requests a customer selfie which is then matched against the document used to register.
By integrating Onfido’s technology, ForgeRock customers can increase revenue in two ways: by reducing abandonment rates caused by complex registration forms and by creating trust with their customers as soon as they are onboarded, providing a more personalized and consistent experience across all their business units.
20-50% of call center fees are attributed to account takeover scenarios; these fees can also be avoided with step-up verification.
“Disparate identity systems spread across many applications and services are proving challenging for many of our customers,” said Ben Goodman, Senior Vice President of Global Corporate and Business Development at ForgeRock.
“Offering customers a strong validated identity at the start of the customer journey not only reduces their fraud exposure, but drives increased revenue from simplified onboarding experiences and more personalized interactions.”
According to Gartner, “By 2022, digital businesses with great customer experience during identity corroboration will earn 20% more revenue than comparable businesses with poor customer experience.”
“Whether you’re a bank, online retailer, insurance broker, mortgage company or marketplace, being able to build trust and provide the best onboarding experience possible for customers, while reducing fraud exposure, is a vital step to growth,” said Husayn Kassai, CEO and Co-Founder at Onfido.
“We’re pleased to partner with ForgeRock to bring the highest level of security assurance to its identity platform.”
Onfido covers over 4,500 ID document types across 195 countries, detecting anomalies automatically, while using human experts to verify outliers.