Ideco to release identity-as-a-service and national user ID mobile app
South African biometrics firm Ideco will soon introduce its new Identity-as-a-Service (IDaaS) and national user ID (nuID) mobile app ecosystem for fraud-proof trusted identity verification, which it will confirm people’s identities using a digital certificate of authenticity, according to a report by fin24tech.
The mobile application is designed to give users more control over protecting their identities.
“The app enables the general public to take control of identity,” said Ideco CEO Marius Coetzee. “When your identity is needed for an application like a cellphone contract, so many copies of a person’s identity is floating around. This app aims to provide more security and curb identity theft.”
Ideco said that identity fraud currently costs South African organizations billions annually, with losses of up to R15 billion (US$1.13 billion) each year in the medical sector alone.
As a result, identity fraud is possibly the single greatest governance, risk and compliance challenge currently facing South African organizations.
Dubbed as the “next-generation identity verification as a service to organizations requiring FICA or RICA compliance”, the IDaaS ecosystem aims to benefit large financial agencies requiring identity verification to secure banking services, the communications industry, healthcare, education and social protection.
At the point of contact, the system captures the credentials and biometric data of the consumer, then validates the data in real time using the Ideco IDaaS ecosystem.
Once the system establishes full trust, it generates a seal of authenticity which both verifies the customer identity and digitally signs the vendor documents in compliance with the Electronic Communications and Transactions Act.
Ideco will launch the ecosystem next week, while the rollout of the app is expected to take place soon.
In July, the Biometrics Institute named Ideco Biometric Security Solutions director Francois Vermeulen as the new head of the organization’s Technology Innovation Expert Group (TIEG).