Onfido will be supplying Tiger Brokers with automated identity technology to help the firm speed up its onboarding process. The solution is compliant with the Know Your Customer (KYC) requirements, and it will help Tiger Brokers keep up with growing demand by allowing new users to sign up remotely.
The Onfido platform uses facial recognition to match a selfie to the image on an official government ID. The company’s document recognition tech is compatible with thousands of documents internationally, though Tiger Brokers indicated that people should be using either their passport or their Singapore NRIC card. The deployment will also ask users to take a short selfie video (rather than a photo) to ensure that the individual is present.
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