Partnering with Onfido – how Arro Money are able to offer an account in under 3 minutes

In order to make Arro Money’s account sign up process as fast and straightforward as it is, we work with a number of partners to verify applicants’ identities through ID record checks, document verification and street level verification.

As a result of this we have been able to provide accounts to people who would otherwise need to book appointments and jump through hoops to get even a basic account, such as people new to the UK, those in temporary accommodation and people with no long-term credit or address history.

Onfido uses machine learning technology to validate a user’s identity document and compare it against their facial biometrics. The identity can then be cross-referenced against international credit and watchlist databases. Onfido was founded in 2012 when the co-founders noticed a problem; that though the world was moving online, the identity verification processes required for opening a bank account resided in an offline, manual world. Onfido also works with ZipCar, Revolut and Bitstamp.

Arro Money partnered with Onfido specifically because they stand for what we stand for – financial inclusion.  In addition to being market leaders using cutting edge technology, they recognise the challenges that face those that do not have a conventional address history or a full UK credit history.

“The world is moving online, but the means to carry out identity verification is frozen in time in an offline world. Millions of people who don’t have a credit history – or just have a thin one – are unable to access countless everyday services. We’re really happy to be working with Arro to help solve that problem” says Husayn Kassai, Onfido CEO & Co-founder.