Admirals Chooses Onfido to Streamline Client Verification

<p>In an effort to improve its client onboarding process across Europe, Admirals has partnered
with the identity verification provider Onfido. The collaboration will allow
Admirals' online investment platform, Admiral Markets Cyprus Ltd, to streamline
onboarding and account creation for clients in over 25 European countries. </p><p>Admirals Partners with
Onfido to Enhance Onboarding Experience</p><p>By
integrating Onfido's AI-powered identity verification technology, Admirals aims
to increase security, prevent fraud, speed up onboarding, and remain compliant
with various regulatory requirements.</p><p>Onfido's
document and biometric verification tools will help Admirals validate user
identities and detect fraudulent activities during onboarding. This is expected
to build greater trust and confidence among Admirals' existing and prospective
clients.</p><p>"Onboarding
clients from European countries where regulations and security standards are
demanding requires a pioneering, trusted and reputable partner like
Onfido," Stefanos Mistrellides, the Onboarding Product Owner at
Admirals, said. "We aim to continue setting Admirals as a leading fintech
destination in Europe."</p><p>Admirals
Group AS is a <a href="https://www.financemagnates.com/terms/f/fintech/">fintech</a> company offering clients a wide range of financial
products and services worldwide through its regulated investment firms,
including foreign <a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a>, contracts for difference, stocks and ETFs. Admirals
has expanded globally over the past two decades since its founding and received
industry recognition for its trading tools.</p><p>Andrea
Bondi, the SVP of Digital Identity Solutions at Onfido, added that the company "helps
businesses meet regulations while ensuring a secure onboarding
experience."</p><p>Admirals' New Products</p><p>The
Estonia-based forex and CFD broker has been actively enhancing its trading
platform and product offerings in recent years. In 2020, the company started
developing a new proprietary web-based trading platform, which was officially <a href="https://www.financemagnates.com/executives/exclusive-admirals-unveils-trading-platform-overcoming-rebrandings-lost-opportunities/" target="_blank" rel="follow">launched
in November 2023</a>. The platform gives users access to over 7,400 financial
instruments.</p><p>To boost
liquidity, Admirals <a href="https://www.financemagnates.com/forex/admirals-onboards-new-liquidity-provider-after-trading-platform-launch/" target="_blank" rel="follow">integrated Match-Prime's multi-asset liquidity pools</a>. This
brought added simplicity, transparency and security for clients. In August,
Admirals released a new automated investing <a href="https://www.financemagnates.com/institutional-forex/admirals-lunches-auto-invest-unveils-trading-plans-across-3000-stocks/" target="_blank" rel="follow">tool called Auto-Invest</a>. The
feature lets investors optimize their portfolios and set up automated
contributions from their wallets or Invest.MT5 accounts. </p><p>Meanwhile,
Admirals' UK subsidiary, Admiral Markets UK Limited, <a href="https://www.financemagnates.com/forex/brokers/admirals-uks-loss-deepens-in-2022-despite-estonian-parent-turned-record-figure/" target="_blank" rel="follow">reported a marginal revenue decline of 2.2%</a> in the fiscal year 2022, totaling £6.04 million. Higher administrative costs
led to a pre-tax loss of £267,147. However, the overall Admirals Group
generated revenue of €69 million across its global operations.</p>

This article was written by Damian Chmiel at www.financemagnates.com.