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New enterprise biometric onboarding, identity verification platform introduced by Idemia

New enterprise biometric onboarding, identity verification platform introduced by Idemia

Idemia has introduced the new ID.X identity platform for secure customer onboarding and identity verification with biometrics to help enterprises and service providers mitigate fraud and be KYC/AML compliant, the company announced.

“A trusted digital identity has the power to transform KYC/AML compliance and fraud challenges into opportunities by enabling business growth, reducing costs, improving efficiency, and supporting the creation of new services,” said Muzaffar Khokhar, EVP Digital Business Unit at Idemia, in a prepared statement.

The ID.X digital identity platform includes four main modules: ID.X Proof, ID.X Manage, ID.X Authenticate and ID.X Access.

ID.X Proof is a platform for customer onboarding and identity verification, which is conducted through biometric and document capture via dedicated hardware or smartphone. After the data is registered, the tool can verify biometric and document data against each other or an authoritative data source. ID.X Manage helps enterprises create, store and manage digital identities. It supports biometric de-duplication and ensures compliance with Anti Money Laundering (AML) and Know Your Customer (KYC) requirements. ID.X Authenticate is an authentication platform that adapts authentication to transaction risk levels and uses cases. It helps companies manage evolving fraud schemes, heterogeneous and new authentication factors, multiple user profiles and sales channels, and others.

ID.X Access ties it all together to provide unified biometric physical and logical access controls.

The company recently revealed plans to work with Egypt’s postal service to develop digital identity services with fingerprint biometrics.

Digital identity is expected to grow to a $30.5 billion market by 2024, according to a recent market report.

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