<p dir="ltr">I have been looking into identity verification companies and wanted to actually understand how Onfido makes money before assuming it is just a simple per check fee model. Here is what I have pieced together so far, would appreciate anyone correcting me or adding context.

<p dir="ltr">From what I understand, Onfido is primarily an identity verification and fraud prevention company, helping other businesses confirm that a user really is who they claim to be, usually during onboarding for things like bank accounts, crypto exchanges, gig economy platforms, and other services that need to verify identity for regulatory or fraud prevention reasons. The core revenue model seems to be usage based, charging client businesses per identity check performed, which typically involves verifying a photo ID document alongside a selfie or biometric check to confirm the person matches the document.

<p dir="ltr">Beyond the basic per check fee, there also seems to be tiered pricing depending on the type of verification requested, a simple document check tends to cost less than a more thorough check involving biometric matching, database cross referencing, or additional fraud signals. Larger enterprise clients likely negotiate custom contracts with volume based pricing rather than paying standard per check rates, which is common in this kind of business to business infrastructure model where usage can scale into millions of checks for large platforms.

<p dir="ltr">What I am still trying to understand is how much of the business is genuinely differentiated on accuracy and fraud detection versus competing mainly on price and integration ease, since identity verification seems to be becoming a fairly commoditised category with multiple providers offering broadly similar core functionality.



<p dir="ltr">Has anyone here actually worked with or integrated Onfido as a client? Curious how the pricing structure actually worked in practice, and whether the accuracy and fraud detection lived up to what was promised.

<p dir="ltr">Found a fairly clear explanation of this onEntrepreneur Plus while I was reading around the topic, helped me understand the founder side of it a bit better.