We are thrilled to announce that G2’s Summer Report 2024 has recognized Ondato with 18 badges, solidifying our reputation as a trusted provider in various software fields. This quarter, Ondato has been named twice a Leader in the Anti-Money Laundering and Identity Verification category, a testament to G2’s continued recognition of our expertise in the industry.

We are deeply honored to know that our customers are satisfied with our service. 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
  • Momentum Leader
  • High Performer in EMEA
  • High Performer in Europe
  • Mid-market High Performer
  • Small Business High Performer

Identity Verification Category

  • Leader
  • High Performer in EMEA
  • High Performer in Europe

Biometric Authentication Category

  • Momentum Leader
  • Easiest To Do Business With
  • High Performer in EMEA
  • High Performer in Europe
  • High Performer

Age Verification Category

  • Easiest To Do Business With

E-commerce Category

  • Easiest To Do Business With
  • High Performer

Governance, Risk and Compliance Category

  • High Performer

Why Ondato?

With the awards in mind, let’s look at why our customers choose us:

Cost Efficiency

Traditional Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures typically involve substantial expenses, including labor, office space, technology, training, and other associated costs. The cost of employing skilled KYC specialists alone can exceed that of any compliance solution. By integrating an automated compliance service like Ondato, businesses can significantly reduce overall AML compliance costs, potentially cutting them by half or more, depending on their unique circumstances.

Reduced KYC/AML Processing Time

There is a direct correlation between the speed of application processing and customer satisfaction. Minimizing the duration of KYC and AML processes is crucial for retaining clients. On average, banks spend around 18 minutes verifying a client’s identity and conducting KYC and AML checks, often leading to customer frustration. Ondato significantly reduces these processing times, alleviating customer frustration.

Enhanced Customer Experience

Digital identity verification offers users a seamless and convenient experience. Advances in regulatory technology allow for the effortless collection of sensitive KYC data and documents. By eliminating the need 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 KYC processes, human errors are inevitable and can sometimes lead to the omission of critical KYC data, which might indicate a client’s high-risk status. Integrating AI-based Regtech solutions enhances the efficacy of the verification process. These solutions excel at detecting document alterations and spoofing attempts, thereby effectively reducing potential risks.

Uncover the impact Ondato has on the KYC and AML market by exploring our top-rated products:

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    FAQ

    G2 serves as a platform where individuals can share their thoughts and experiences concerning software services and products. This platform predominantly focuses on B2B solutions and stands as one of the premier destinations for assessing business software, including identity verification tools. G2 provides an array of user reviews and ratings, complemented by expert analyses spanning various software categories. Their aim is to furnish comprehensive and impartial insights into diverse software packages, aiding businesses in making informed software selections.
    G2 relies entirely on user feedback and reviews for its award determinations. Buyers can place trust in their choices as the reviews undergo rigorous verification to ensure authenticity. G2 hosts reviews for numerous identity verification solutions currently available in the market. Sara Rossio, Chief Product Officer at G2, explains, "G2's rankings are derived from information provided by real software purchasers. Prospective buyers can rely on these insights when researching and choosing software because they are rooted in thoroughly vetted, verified, and genuine reviews."