European FinTech Association welcomes selfie integration specialist as latest member
Onfido was greeted as the last member of the European Fintech Association (E FA). EFA is a non-profit industry association that defends the interests of fintech organizations across the European Union. The group is particularly active politically and has advocated a standards-based approach to the development of FinTech.
The news will ensure that Onfido remains at the forefront of political debate within the EU. The company is a leading provider of biometric integration software, and believes (like the EFA) that consistent financial regulations will promote interoperability between EU Member States. It will also help build confidence among the general public, as end users can rest assured that the authentication software they are using has met certain security requirements.
In addition to helping EFA’s political work, EFA membership will give Onfido more opportunities to network and collaborate with other FinTech companies and with EU regulators. . These relationships should fuel innovation and foster the creation of a healthy development environment.
âOne of our key missions is to remove regulatory barriers to the provision of cross-border digital finance and to scale up across Europe and beyond,â said EFA President Marc Roberts. âOnfido is an excellent representation of what we are trying to achieve as a European company focused on making it easier for consumers to access financial services in a safe and efficient manner, no matter where they are based or who they are. “
Onfido argued that the EU is a world leader in financial technology regulation, both with laws such as digital services and digital markets laws and with the recent discussions on a radical new bill who would be regulate AI technologies.
Demand for digital integration solutions keep on skyrocketing as businesses seek safe remote verification options during the COVID-19 pandemic. Onfido is one of the many suppliers to have benefited from this boom and has achieved record growth in its last quarterly report.
(Originally posted on FindBiometrics)