Veratad and GBG have each formed partnerships to distribute their selfie biometrics technologies to new customers. Customer wins in the remote identity verification market have been announced by OneSpan, Onfido and Trulioo, while iProov technology has reached the public beta of Australia’s online government services app, and A. ID and WebID have each carried out successful fundraisers.
Partnerships extend the reach of selfie biometrics
Veratad Technologies has partnered with Kernel Edge Technologies Ltd, integrating its biometric digital identity verification solutions for KYC and AML compliance integration with the Bank Kernel Fintech Development Kit (FDK) to help fintech customers get to market quickly and in complete safety.
The identity verification solutions that Veratad integrates with Bank Kernel include selfie biometrics with liveliness checks and two-factor authentication.
“Veratad is delighted to be working with Bank Kernel on this revolutionary concept of banking in a box,” said John E. Ahrens, CEO of Veratad Technologies. “Bank Kernel gives fintechs everything they need to build and market a product at scale, from mobile and web applications to extensive banking capabilities and risk management tools. Digital identity verification is a must as the financial industry seeks to modernize onboarding and deliver a seamless customer experience, and we look forward to our solutions continuing to play a role in this innovation. “
GBG has partnered with Seon to provide new customer onboarding and fraud prevention through data validation to fintechs and digital banks in the Asia-Pacific region, reports Fintechnews Singapore.
The partnership makes GBG’s intelligence center available to customers in Vietnam, Cambodia, the Philippines, Malaysia and Thailand through Seon. GBG claims that the integration can reduce the use of bogus and malicious email addresses to 0% and increase the detection of applications and transactions from suspicious IP addresses by 80%.
“To effectively tackle the increase in digital financial crime, it just means that fraud detection and prevention measures must be constantly modernized,” said Dev Dhiman, Managing Director of GBG APAC.
“This partnership with SEON continues to extend GBG’s datasets to better combat identity crimes, in particular typologies of synthetic identity fraud, identity theft, identity theft, account takeover, money transfer and SIM swap fraud. “
GBG launched a new ID document verification tool in August with passive biometric verification of R&D ID vividness.
The customer wins
OneSpan announced a winning client, with Belgian neobank NewB committing to use OneSpan Cloud Authentication and Mobile Security Suite for transparent, secure and compliant client services.
Both of the OneSpan products above use biometrics. Through their use, NewB expects to increase its customer base by 300% this year, according to the announcement.
“We were very impressed with OneSpan’s 25 years of experience as a leader in fraud mitigation and helping banks meet regulatory compliance requirements,” said Adrien Liénard, NewB Product Manager. “We partnered with OneSpan for their expertise and ease of implementation, which helped us successfully obtain our banking license and enter the market. From the launch of our services, we have been able to offer our customers an easy-to-use and secure digital banking experience.
Likewise, Onfido has extended an agreement with European neobroker Bux to integrate biometric verification of documents and selfies for integration in accordance with KYC regulations.
The integration will help simplify the onboarding process, the commission-free investment application Bux Zero, enabling secure identity verification in minutes.
“Organizations today face the challenge of delivering a seamless onboarding experience while incorporating robust fraud detection and respecting privacy,” said Michael van Gestel, Global Fraud Officer and CEO of Onfido Netherlands. “With Onfido, BUX can achieve this, putting usability, security and trust at the forefront. Onfido’s hybrid approach combines the speed and scalability of AI with expert identity analysts so fast-growing fintechs, such as BUX, can quickly onboard more users with detection capabilities. world class fraud.
Trulioo was chosen by neobank Zolve to provide real-time biometric identity checks through its GlobalGateway.
Zolve enables access to financial services for people facing barriers due to a lack of local credit history, such as immigrants, and focusing on the “India-US Corridor” to begin with. The company provides a complete financial services application with an FDIC insured bank account and high limit credit card. Zolve will use Trulioo’s technology to secure customer onboarding and account creation.
“We are delighted to partner with Zolve as its goal aligns closely with Trulioo’s mission of ensuring that people with low capacity and underbanked communities can access essential financial services and participate in the economy. global, ”comments Steve Munford, President and CEO of Trulioo. “This partnership is a testament to Trulioo’s keen sense of supporting innovative financial service providers and providing secure and reliable identity verification services in an increasingly digital and borderless world.
iProov Genuine Presence Detection Reaches Public Beta of ATO App
A public beta trial of iProov’s liveness solution for selfie biometrics with the Australian Taxation Office (ATO) myGovID app has started, writes iTnews.
The integration of liveliness checks increases the strength of myGovID proof of identity to Level 3 (IP3), based on the country’s trusted digital identity framework. The technology has been in private testing by ATO since July.
Users can establish a strong myGovID by verifying their identity with a passport, birth certificate or citizenship certificate, and driver’s license or health insurance card. All three document verifications plus Selfie Biometric Match with Presentation Attack Detection (PAD) meet the “strong” digital ID standard. Other myGovID accounts are considered to have “standard” or “basic” proof of identity.
Over 2.7 million myGovID accounts have been created to date, and they can be used to access 78 federal and state government agency services.
A.ID and WebID raise funds
Compliance-as-a-service provider A.ID, partner of Shufti Pro and FaceTec, has closed a pre-seed funding round for its digital identity verification platform to enable fintechs to onboard customers at high risk.
The company has raised $ 500,000 from angel investors, some of whom are former employees of RobinHood, Square and Snap, reports TechCrunch.
A.ID enables customers to perform standard and enhanced due diligence, watchlist filtering, payment monitoring, creation and resolution of compliance cases, and regulatory notifications through an API or SDK. Its first clients include the digital bank Arival and the social network Clos.
WebID has secured a majority investment from AnaCap Financial Partners to provide growth capital and reach markets beyond financial services and telecommunications.
Over 15,000 users per day verify their identity with Germany-based WebID Video ID for AML Compliance, and more use its fully automated identity verification products. The company’s AI Ident solution uses selfie biometrics.
Deutsche Bank, BNP Paribas and Santander use WebID’s KYC solutions, according to the announcement.
WebID founder Frank S. Jorga says the company achieved sales of over 20 million euros (US $ 23.7 million) in 2020 and is growing rapidly.
The amount AnaCap invests has not been disclosed.
A.ID | biometrics | digital identity | financing | GBG | identity verification | iProov | KYC | mobile biometrics | integration | OneSpan | Onfido | Trulioo | Veratad | Web ID