FinTech: Top 10 fraud & ID verification platforms


Fraud is on the rise across the financial industry. We bring you our Top 10 fraud and ID verification platforms helping to combat the rising tide of fraud

As the financial services industry moves into a digital age, so too does fraud stay at pace with the rapidity of digital innovation. In 2022, Cifas found that the rate of fraud rose 17% year-on-year, 11% higher than that even seen during the Covid-19 pandemic.

It is now more important than ever for businesses and financial institutions to protect against fraud. Below, we take you through our Top 10 companies working to mitigate against fraudulent activity with their fraud and ID verification platforms. Let’s take a look…

10. HealthVerity 

US-based HealthVerity is an IT services and consulting company that synchronises technologies with the nation’s healthcare and consumer data ecosystems. These capabilities allow HealthVerity to supposedly power previously unattainable outcomes and advance the science of identity, privacy, governance and exchange (IPGE). Providing health industries with a comprehensive package, HealthVerity synchronises ID management with built-in privacy compliance and governance capabilities to allow its customers to discover and exchange a near-limitless combination of data at a rapid pace.

9. Bureau ID 

Bureau ID is a no-code, identity decisioning platform that offers businesses a complete range of risk, compliance and fraud monitoring solutions innovated with AI. Leveraging next-generation orchestration, Bureau offers its business customers contextualised insights that can lead to fully informed decisions about digital identity trustworthiness. The company says this makes it easier for consumers to transact and prevents bad actors from slipping through the cracks. This helps businesses achieve growth, operate efficiently and curtail fraud attacks.


8. IDVerse

Formerly OCR Labs, IDVerse manages a fully-automated solution that verifies new users in seconds, using biometric authentication through a smartphone. IDVerse’s technology is in use in over 220 countries and territories today and can validate a user with any ID document without the need for human involvement. Today, the company leverages AI – through its Zero Bias AI technology – pioneering Generative AI to train deep neural network systems. IDVerse says its system is therefore able to protect against discrimination based on age, race and gender. Today, IDVerse claims to achieve 99.99% accuracy when its solution was independently lab tested. Its CEO, John Myers, recently spoke to FinTech Magazineabout the company’s growth journey.

IDnow is an identity-proofing platform provider that offers a range of identity verification and document-signing solutions alongside its comprehensive service offering. IDnow optimises and tailors its services to the client – ranging from automated to human-assisted solutions to solutions that serve online sources and those that cover point-of-sale. With its range of offerings, IDnow says its proofing methods are optimised to ensure the highest security standards are met alongside maximum user conversion. FinTech Magazine recently caught up with IDnow’s Head of Crypto & Fintech Jason Tucker-Feltham at Money20/20 Europe, who discussed the company’s UK expansion plans.

6. Sift

A leader in digital trust and safety, Sift offers fraud prevention and anti-abuse solutions through its industry-leading technology and expertise and extensive global network of one trillion events per year. With its purported commitment to long-term customer relationships, Sift is partnered with many recognised brands including DoorDash and X (formerly Twitter), which rely on Sift to gain a competitive market advantage. The company’s Digital Trust & Safety platform is built with a single intuitive console – an end-to-end solution that eliminates the need for disconnected tools, single-purpose software and incomplete or inadequate insights that lead to a drain on resources. The Sift platform connects data, is adaptable and leverages intelligent automation to all aspects of risk operations.

5. Jumio 

Jumio offers its businesses the tools to better understand and trust their customers online through its Jumio KYX platform. From a user opening an account to ongoing monitoring, Jumio’s platform provides advanced risk signals, identity proofing and compliance solutions to help businesses establish, maintain and reassert trust with their customers. Leveraging technology from automation, biometrics, AI and machine learning, no-code orchestration and liveness detection, Jumio’s platform can help businesses fight fraud and other financial crimes – as well as ensure they onboard good customers in quick time and meet regulatory requirements around KYC and AML.

4. offers a solution that helps individuals prove and share their identity online. The network has 66 million members and reports over 145,000 new subscribers daily. The company is also partnered with 29 US states, 10 federal agencies and over 500 retailers. offers these organisations identity proofing, authentication and group affiliation verification for organisations across multiple industries. With the mantra “No Identity Left Behind”, even offers video chat services to support its customer base so they can feel confident in having a secure digital identity. has 37 investors supporting it which helped it to acquire Perkla in 2014.

3. Onfido 

Onfido provides its Real Identity Platform to businesses, who can use the platform to tailor verification methods to individual user and market needs in a no-code orchestration layer. This makes it easier for businesses to identify any bad players, as well as for people to access services more easily through its quick verification solution. Onfido’s platform leverages a mix of document and biometric verifications, trusted data sources and passive fraud signals to help businesses meet risk, friction and regulatory requirements. Onfido also powers Onfido Atlas, an AI solution that powers its platform’s automated, end-to-end identity verification process which has been in development for over 10 years. The development of Onfido Atlas is something the company says ensures its analysis work is fair, fast and accurate.


California-headquartered ABBYY is a software conglomerate with operations in 15 countries worldwide. The company transforms data from business-critical documents into intelligent actionable outcomes in over 200 languages – all in real-time. Today, ABBYY actions insights in over 10,000 companies globally – including Fortune 500 organisations – to drive impacts in customer experience and operations, giving businesses a competitive advantage. One of the company’s most popular products is the ABBYY FineReader, an OCR application that allows the conversion of image documents and screen captures into editable file formats. ABBYY has dedicated software and products for financial services providers and can help financial organisations transform incoming documents and communications into actionable data, expedite process automation with data capture and extraction, and prepare operations for emergency services, among other capabilities.

DocuSign helps organisations to connect and automate their systems of agreements, and has today over one million customers and over one billion users across the globe. The company offers its proprietary eSignature product – which has fast become the leading way for electronic signature available on nearly all devices. The company helps expedite the signage process, and is the most trusted electronic signature provider, which billions of people trust with their critical and essential agreements. The company offers agreement generation software, identit verification options, and a review and negotiate feature alongside its digital signature prodcut. DocuSign says its service can help businesses to improve the customer experiences they offer, allowing organisations to focus on business as well as save time.