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Arro Money Partners With Global Identity Verification Provider Onfido


Personal and business bank account provider Arro Money has teamed up with Onfido to provide real-time ID verification and Know Your Customer checks.

Through the partnership with Onfido, Arro Money will be able to provide secure and easy access to financial services even to those who might have struggled previously. Through the deal new customers will be able to set up an account with Arro in only three minutes. This is thanks to high-speed and accurate Customer Due Diligence (CDD) checks.

These checks are essential due to the Fourth Money Laundering Directive brought in by the EU in June last year.

Onfido is a leading global identity verification provider. They will provide Arro Money with state of the art eKYC data alongside verification for ID cards, driving licences and passports in real-time from more than 160 countries. Onfido also possesses a large database that will allow home addresses to be verified faster than before giving Arro’s customers almost instant access to financial services.

Arro will also make use of Onfido’s Facial Check with Photo to provide extra security against the most sophisticated spoofing attempts. This means that all users, whether signing up for a business or consumer account, will just need to take a selfie and send that with a photo of their ID document and submit them to Onfido for verification. This process replaces a costly and time consuming manual review.

Speaking about the new alliance, Muhammad Asim, Director at Arro Money, explained:

“By partnering with Onfido, we are able to further improve our customer service and continue to eliminate excessive credit checks. Ultimately, we are helping to improve accessibility and financial inclusion. At Arro, we have always put our customers first and, by having this strong alliance with Onfido, our customers’ identification is verified securely, simply and, above all, quickly. Having already onboarded 10,000 customers with our advanced KYC checks, we hope this partnership will support our aims of acquiring 50,000 more business accounts over the next 12 months.”

Onfido CEO Husayn Kassai added:

“Having seen the advancements Arro has made over the last six months and its focus on providing a best-in-class service for KYC and KYB checks, it was clear that our companies shared the same vision of providing a safe, seamless and trustworthy verification process. Arro is just one of a number of high-quality partners that we have across the globe using our solution to onboard clients in a way which complies with all financial institution regulations and directives.”

An alternative to traditional banking, Arro Money initially started with consumer accounts before recently adding business accounts to their portfolio.


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