Ondato

Overview

Ondato provides a single compliance platform, marketed as an operating system for know your customer work, covering identity verification, business onboarding, anti money laundering screening, transaction monitoring, risk scoring, case management and age verification. It was founded in Vilnius in 2016 by Liudas Kanapienis, who remains chief executive, and Andrej Vistorskij, moved its headquarters to London while retaining research and development in Vilnius, and operates from the United Kingdom, Lithuania and Poland with more than three hundred clients. Funding came through a pre seed round from an accelerator fund followed by seed and seed extension rounds led by OTB Ventures with LitCapital, totaling roughly six and a half million euros. Verification methods span document capture with an optical character recognition engine, biometric face matching, liveness detection, chip reading from electronic documents and matching against a database of individuals previously flagged for fraud. A separate product provides live video interaction between an agent and a customer for regulated onboarding where a face to face check is required, which distinguishes it from vendors offering only an application programming interface. Buyers span digital banks, crowdfunding platforms, lenders, gaming operators, e-commerce and legal services, concentrated in the European Union. Prices are published per verification and by product on a public pricing page. Certification confirmed by the company itself covers information security management and presentation attack detection testing at both levels, alongside European electronic identification conformity certificates and stated adherence to the related technical standards.

Details

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