Tiger Brokers selects Onfido to automate customer onboarding
Tiger Brokers (Singapore), the online brokerage, today announced a partnership with Onfido, the global identity verification and authentication company, to automate customer onboarding using Onfido’s AI-powered document and biometric verification solution, to verify users quickly and efficiently while meeting Know-Your-Customer (KYC) requirements.
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With the increasing number of users onboarding, Tiger Brokers (Singapore) trading platform, Tiger Trade, wanted to ensure a hassle-free and seamless onboarding process for its users. Onfido’s solution will help to automate the verification process, enabling Tiger Brokers’ users to complete the KYC process in a secure and efficient manner so they can onboard and start their investment journey on Tiger Trade faster and with a convenient user experience.
With Onfido’s award-winning identity verification solution, users can verify themselves by simply taking a photo of their passport or Singapore NRIC and a short selfie video. Onfido first checks that the ID is genuine and not fraudulent, and then performs liveness checks to verify the selfie is a live video and matches it to the photo in the ID. This adds a layer of protection against stolen IDs and impersonation attempts.
“Tiger Brokers (Singapore) is all about providing a seamless user experience to our investors. We have constantly made sure we update our platform with usability features, ranging from easier access to financial news to deposit enhancements, and our partnership with Onfido will allow us to onboard new users within a few hours instead of the average/standard two to three business days. We want to make investing as accessible and convenient as possible to our Singapore-based users, and this is a positive step in providing Singapore’s digitally and financially savvy investors access to some of the most exciting global markets in the world,” said Eng Thiam Choon, CEO of Tiger Brokers (Singapore).
“Singapore is known as the fintech hub of Asia and we are proud to be supporting Tiger Brokers (Singapore) in their digitisation journey,” said Harvinder Singh, GM APAC of Onfido. “Onfido brings trust to digital interactions worldwide, and we’re excited to be partnering with a company that’s equally ambitious. We pride ourselves on delivering an experience with the best technology solution and we look forward to collaborating with Tiger Brokers (Singapore) as they innovate for the future of the financial industry.”