IDnow vs. Onfido

It's a good way to get up and running with a KYC process, albeit a bit clunky once set up. I would not recommend IDnow to an enterprise-level company because I think it's more conducive to a smaller, mid-sized business more so than a larger organization looking for all the bells and whistles.

Incentivized

Onfido is well suited for integrations within a mobile app for automated document processing and validation e.g. driver's licenses, passports etc. Onfido is less well suited for web applications since the quality and accuracy of the checks is very dependent on the quality of the image captured which in general is less high quality from a webcam.

Incentivized

• Regulatory requirements.
• AML requirements.

Incentivized

• Facial recognition of driver's license information
• Easy to integrate SDK
• Certified by governing bodies e.g soc 2 type 2 compliant

Incentivized

• Customer service.
• Less buggy identification process.
• Wait time for support.

Incentivized

• Dashboard - current analytics are very high level pass, consider, fail - would like a more detailed breakdown of reasons why consider / fail aggregated in an easy to view format.
• Speed consistency - sometimes Onfido checks are very fast, sometimes it takes a lot longer
• OCR - we had issues with OCR data quality and had to add a step for users to verify information captured via OCR from Driver's Licenses.

Incentivized

Ultimately went with Onfido due to previous experience with applications & products that had worked with Onfido and from research Onfido appeared to be one of the main providers in the space providing reassurance internally on use of relatively new technology. Onfido security and compliance was also standout helping pass internal audits by cybersecurity and legal. Downside with Onfido is that the pricing model is complex and relies on accurate predictions of platform/user growth to secure the best price-per-check which is challenging in a startup environment.

Incentivized

• Positive: higher KYC success rates.
• Positive: less fear over regulatory requirements.
• Negative: lots of time and effort debugging from time to time.

Incentivized

• Strong ROI compared to manual alternatives
• Slightly unclear how Onfido ROI would be better/worse than competitors in the space - a lot of similar offerings out there

Incentivized