Tiger Brokers (Singapore) has, on Aug 18, partnered Onfido, a global identity verification and authentication company to provide Tiger Brokers’ customers with a smoother onboarding process.
The onboarding process will be automated using Onfido’s artificial intelligence (AI)-powered document and biometric verification solution.
The partnership comes as the online brokerage welcomes more users to its platform.
Through Onfido, Tiger Brokers users can verify their log-ins by taking a photo of their passport or Singapore NRIC and a short selfie video.
Onfido will then check that the identity submitted is genuine and not fraudulent. It will also verify customers’ selfie with “liveness checks”.
“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,” says Tiger Brokers CEO, Eng Thiam Choon.
“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,” he adds.
“Singapore is known as the FinTech hub of Asia and we are proud to be supporting Tiger Brokers (Singapore) in their digitisation journey,” says 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.”