We are delighted to share that G2’s Spring Report 2024 awarded Ondato with 13 badges, solidifying us as trusted providers among the best identity verification, biometric authentication, age verification, and Anti-Money Laundering (AML) software. This spring has been a season of great recognition for Ondato. In March, we were proud to receive significant acclaim from Statista and Financial Times in their annual list of the 1000 fastest-growing companies in Europe, where we stand at #137.
It is a great honour to know that our customers are satisfied with us. In this article, we want to take a closer look at the G2 awards.
Ondato’s Awards
Here’s a closer look at the titles G2 has awarded Ondato this quarter:
Anti-Money Laundering Category
- Leader
- High Performer in EMEA
- High Performer in Europe
- Mid-market High Performer
- Small Business High Performer
Biometric Authentication Category
- Momentum Leader
- Easiest To Do Business With
- High Performer
Identity Verification Category
- High Performer
- High Performer in EMEA
- High Performer in Europe
Age Verification Category
- Easiest To Do Business With
- High Performer
Why choose Ondato?
Given the recognition we’ve earned, let’s examine the factors driving our customers’ preference for our services:
Cost Efficiency
Traditional Know Your Customer (KYC) and Anti-Money Laundering procedures often involve significant expenses, such as labour, office space, technology, training, and other associated costs. The expense of hiring skilled KYC specialists alone can surpass the costs of any compliance solution. Integrating an automated compliance service such as Ondato, significant reductions in overall AML compliance expenses can be achieved, potentially cutting costs by half or more, depending on the unique business circumstances.
Reduced KYC/AML Processing Time
Recognizing the direct correlation between application speed and customer satisfaction, the importance of minimising the duration of KYC and AML processes to retain clients is crucial. Typically, banks spend approximately 18 minutes in verifying a client’s identity and conducting KYC and AML checks, frequently leading to customer frustration. Ondato, on the other hand, significantly reduces processing times, thus mitigating customer frustration.
Enhanced Customer Experience
Digital identity verification provides users with a seamless and convenient experience. Advancements in regulatory technology enable the effortless collection of sensitive KYC data and documents from users. By eliminating the requirement for in-person interactions, customers can easily become clients of banks or cryptocurrency traders from the comfort of their homes.
Improved KYC Success Rate
In manual Know Your Customer processes, human errors are unavoidable, sometimes resulting in the omission of crucial KYC data that may signal a client’s high-risk status. Integrating AI-based Regtech solutions significantly improves the verification process’s efficacy. These solutions excel at detecting document alterations and spoofing attempts, thereby reducing potential risks effectively.
