Oct 30, 2024

Selfie biometrics and AI drive increased efficiency for secure identity verification Oct 30, 2024, 7:28 pm EDT Companies want to get clients, employees and customers into their pipelines quickly and securely. This drives the need for reliable identity verification , fraud prevention and other digital ID products and services. Firms in the sector are answering with tools to enable fast, robust identity verification and accelerated onboarding with selfie biometrics, AI-driven authentication and other identity-based features. AuthenticID’s ‘holistic’ IDV offers fraud prevention, 2-second response A press release from AuthenticID announces the release of AuthenticID360, a new “holistic identity verification platform” that promises a 2-second response time for identity transactions that process the front and back of a government-issued ID, complete biometric verification and  provide KYC data checks. “AuthenticID360 combines ID verification, biometric authentication , KYC (Know Your Customer) and KYB (Know Your Business) data checks, OFAC (Office of Foreign Assets Control) sanction screening, and advanced fraud watchlists tools – all within a single platform,” the release says. It offers fraud protection capabilities including face matching, liveness detection, bad actor watchlists, deep fake injection attack detection and over 500 proprietary anti-fraud algorithms to detect counterfeit IDs and biometric spoofs. And it is equipped with AI machine learning to reduce bias and improve accuracy. Alex Wong, AuthenticID VP of product management, says “speed isn’t just about how quickly a solution can verify a user, but also how quickly fraud analysts can deploy and implement new rules to stay ahead of continuous emerging threats. AuthenticID360 offers our customers the fastest time-to-value with native features and the reliability to meet both business and compliance requirements.” Additional features to be added to the platform at later stages include age estimation , and  compatibility with mDLs, verifiable credentials and digital wallets to support the shift to digital identities. Trulioo reduces onboarding time by two seconds for enterprise client A release from Trulioo says its instant results capability helped an enterprise organization increase verification speed by 56 percent and reduce average onboarding time by two seconds across ten countries, without compromising accuracy. “Trulioo continues to strengthen its platform through strategic innovations in data sequencing and intelligent routing, all through a single, modern API,” says Hal Lonas, Trulioo chief technology officer. “With our platform’s capability to deliver faster verification results , businesses can streamline onboarding, reduce friction and drive growth.” Instant results capability is now available to all customers on the Trulioo platform. Multi-year contact for authID marks entry into telecoms vertical A release says Imperial Technologies Inc. , a broadband and wireless high-speed internet provider across all 50 states, has signed a multi-year agreement to deploy authID ’s biometric identity and document verification services for more efficient customer onboarding. For authID, the deal marks an expansion into the telecommunications sector. Faiz Chaudhry, CEO of Imperial Technologies, says that when the company was looking for a partner that could help protect against a surge in deepfake content and identity fraud, “authID stood out among the various identity providers because of its biometric platform ’s ability to securely onboard and seamlessly authenticate our customer base with the highest levels of identity assurance.” Document-based biometric identity verification from authID is now available on any browser on any device. It offers PAD Level 2 liveness confirmation, ID anti-spoofing checks and facial biometric matching of a selfie to the credential photo – and claims to provide all of this in “a market-leading 700 milliseconds.” Sumsub allows HashKey to offer faster KYC, meet regulatory requirements Efficiency is also on the agenda at Sumsub , which has agreed to provide speedier KYC and AML protections for HashKey Global, a licensed digital asset exchange under HashKey Group. HashKey selected Sumsub based on its experience in the crypto space, which faces rapid growth and increasing regulatory demands. The company’s ability to provide scalable, automated identity verification services , including ID document verification, face matching, liveness detection and proof of address checks, was also a factor. As a result of deployment, HashKey’s average ID verification time “potentially reduced to as low as 20 seconds” and onboard processes were streamlined to “approximately 3 minutes, from uploading the documents and submitting the application to completing verification.” Ben El-Baz, Managing Director of HashKey Global, says that since the blockchain-based firm’s integration of Sumsub, it has processed “hundreds of thousands of identity documents, with significantly quicker verification speeds and higher pass rates.” Related Posts