Identity verification and authentication provider Onfido has acquired another biometric innovator to add acoustic detection technology to its offering.
EYN’s tech will be incorporated into fellow London company Onfido’s platform, with its employees joining the company’s research and biometrics teams.
Onfido has also announced a record-breaking quarter, with a 93% increase year-to-date in global revenue and 100% growth in annually recurring revenue.
Its momentum was driven by continued growth in US and APAC regions and increased demand by financial services and mobility companies looking to scale up their remote customer onboarding.
Onfido also strengthened its leadership team with two strategic hires including CFO Faisal Chughta, former CFO of Inxeption and executive director at JPMorgan Chase, and chief customer officer Nello Franco, former MD of customer operations at Vista Consulting Group and SVP customer success at Talend.
“We’re excited to announce another record quarter powered by strong U.S. and APAC growth, as businesses emerging from COVID-19 realize the benefits of digital-by-default customer acquisition strategies,” said Mike Tuchen, CEO of Onfido.
“As we continue to increase our investment in research and development to fill out our arsenal of tools to fight fraud, we’re pleased to welcome the EYN team to the Onfido family.
“By combining their LiveProof anti-spoofing technology with our existing image-based liveness detection, we’ll be able to offer a liveness product that is unmatched in the industry.”
Cybercriminals are increasingly attempting to set up fake accounts by impersonating legitimate customers. Liveness detection technology from Onfido and EYN aims to stamp this out by ensuring document and biometric checks are submitted live and that photos or deepfakes cannot be used to spoof legitimate users.
“We’re thrilled to join Onfido to help shape the future of online identity verification and allow more people to gain access to the vital services they need,” said Dr. Sheikh Faridul Hasan.
“We share the same philosophy as Onfido: building trust and security at onboarding and throughout the customer journey doesn’t mean that companies need to compromise on user experience or fraud detection.”
EYN’s industry-first anti-spoofing technology uses audible sound and ultrasound wavelengths from a mobile device to actively probe for the presence of a live person, much like a sonar system.