How does PassFort Lifecycle compare to The Real Identity Platform?

PassFort Lifecycle by Moody's is a compliance automation platform that manages the entire customer lifecycle, from onboarding to ongoing monitoring. It facilitates Know Your Customer (KYC) and Anti-Money Laundering (AML) processes by automating data collection, risk assessment, and due diligence. The platform integrates with various data providers and offers customizable workflows, enabling organizations to maintain compliance efficiently while enhancing customer experience.

The Real Identity Platform by Onfido is a comprehensive identity verification and authentication solution designed to enhance trust and security in digital interactions. By combining document verification, biometric analysis, and real-time data validation, the platform ensures that users are who they claim to be, mitigating risks associated with identity fraud.

Onfido's platform is built with scalability and flexibility in mind, offering seamless integration into customer onboarding and authentication workflows. Its advanced AI-driven technology delivers accurate results quickly, improving user experience while maintaining robust security. The Real Identity Platform empowers organizations to reduce fraud, streamline operations, and build lasting trust with their customers.

• 🏆 Best Decision Management Company by AI Breakthrough Awards (2024)
• 🏆 Named on RegTech100 by FinTechGlobal (2024)
• 🏆 Category Winner - AI-driven Credit Data Enrichment by Chartis (2024)
• 🏆 Category Winner - AI-driven credit analytics by Chartis (2024)
• 🏆 Category Winner - AI-driven insurance risk analytics by Chartis (2024)
• 🏆 Category Winner - Strategy by Chartis (2024)
• 🏆 RiskTech AI 50 2024 - Ranked 3 by Chartis (2024)

• 🏆 Best Use of AI for Authentication by AI Breakthrough Awards (2024)

Moody’s is a globally recognized integrated risk assessment firm best known for its credit ratings, research, and analytical tools in the financial sector. Founded in 1909 by John Moody, the company has grown over the past century to become one of the “Big Three” credit rating agencies, alongside Standard & Poor’s and Fitch Ratings. Moody’s provides ratings, insights, and risk analysis that inform and guide investors, financial market participants, and policymakers around the world.

At the core of Moody’s offerings are its credit ratings—an evaluation of creditworthiness that measures the likelihood that a borrower (such as a corporation, government, or structured finance entity) will be able to meet its debt obligations. These ratings, expressed through a standardized alphanumeric scale (ranging from Aaa for the highest-quality obligations to C for those in default), help inform lending decisions, influence interest rates, and shape investor perceptions. They are often required by regulatory bodies and are considered an essential component in global capital markets.

Moody’s also provides a wide array of research, data, and analytic tools to support risk management, portfolio analysis, and strategic decision-making. Through its subsidiary Moody’s Analytics, the firm delivers software solutions, economic data sets, quantitative models, and advisory services. These offerings support customers in areas ranging from credit risk measurement, stress testing, and regulatory compliance to supply chain management and environmental, social, and governance (ESG) assessments.

Another critical function of Moody’s is its role as a thought leader. Its analysts regularly publish sector research, market outlooks, and special commentary on emerging economic and financial trends. These insights help shape market discourse and policy debates on issues ranging from global debt sustainability to climate risk and systemic financial vulnerabilities.

Onfido is a technology company specializing in digital identity verification, founded in July 2012 by three former Oxford University students: Husayn Kassai, Eamon Jubbawy, and Ruhul Amin. The company’s name is derived from the Latin word “Confido,” meaning “I trust.”

Onfido’s primary product is the Real Identity Platform, which includes:
• Verification Suite: Document and biometric verifications, trusted data sources, and fraud detection signals.
• Atlas™ AI: In-house developed AI technology for automated identity verification.
• Smart Capture SDK: Software for capturing identity documents and biometrics.
• Onfido Motion: Advanced biometric technology using facial recognition and liveness detection.

Onfido leverages artificial intelligence and machine learning to verify identities through photo-based identity documents and selfies. Their technology is capable of verifying over 4,500 document types across 192 countries, detecting document anomalies in as little as 15 seconds. Additionally, it employs advanced facial recognition and liveness detection technology to prevent spoofing attempts, ensuring secure and accurate identity verification processes.

Onfido has established itself as a global leader in digital identity verification, serving over 1,100 companies worldwide. With a team of more than 600 employees across international offices, Onfido continues to innovate and expand its reach. In April 2024, the company was acquired by Entrust Corporation, becoming a wholly owned subsidiary and further solidifying its position in the market.

Onfido’s solutions cater to various industries, particularly:

• Financial Services and E-commerce: For KYC compliance.
• Customer Conversion & Fraud Reduction: Helping businesses improve customer onboarding and reduce fraud.
• Global Compliance: Supporting companies in meeting KYC and AML regulations.

Onfido’s technology has received several awards, including recognition for accessibility and algorithmic bias mitigation, positioning it as a significant player in the digital identity verification market.