TruNarrative, Veriff, Onfido and iDenfy upgrade digital identity verification technologies
Regtech platform TruNarrative has launched address verification technology through a new strategic partnership with Window Book and Fluence Automation to mitigate fraud attempts against regulated businesses in the U.S. and EU.
TrueAddress is the real-time address matching service from Window Book and Fluence Automation. It includes artificial intelligence and historical address data to help with matching, formatting, data hygiene and fraud prevention, according to the announcement. It is CASS (Coding Accuracy Support System)-certified and designed to deliver insights to inform fraud and onboarding processes.
TruNarrative provides technology for mitigating financial crime and assisting regulatory compliance with services for customer acquisition and onboarding, account monitoring and action, and risk mitigation. Its clients include ecommerce companies, banks, lenders and betting providers. TrueAddress joins a full suite of services for AML, KYC, KYB, device and utility data, integrated through a seamless API and available from TruNarrative’s Appstore.
“We and the firms we work with consider address verification and standardization an important part of an effective onboarding strategy,” states TruNarrative CEO John Lord. “Poor address hygiene and standardization cause enormous problems for organizations. This partnership delivers an established reliable address solution to our customers.”
Veriff to provide user feedback on image capture
Veriff has launched a new Assisted Image Capture (AIC) service to improve verification pass rates, user conversions and speed, according to a company announcement. End-users receive real-time feedback and guidance during the verification process to help avoid mistakes commonly made by people going through the verification process, especially for the first time, including taking low-quality photos or failing to capture both side of a document.
Veriff Co-founder and COO Janer Gorohov says that the company noticed the same mistakes being repeated frequently among the millions of verifications it has analyzed.
“As delays cost time and money for our clients, we created a solution that gives end-users real-time feedback and helps honest people get through IDV so they can start using the vendor’s services,” says Gorohov. “As AIC has been a part of our product for a while now and the results have been superb, we identified that making it a standalone product could help many companies facing similar challenges.”
Veriff says the technology uses machine learning to pre-validate sessions, detects errors in photos such as blurriness, glare, facial occlusion or damaged ID documents, and communicates with users. It increases first-time pass rates, improves general operational stability, and decreases costs, particularly related to verification, according to the announcement.
Onfido improves SDK accessibility
Onfido has integrated new features into its SDK to improve accessibility for people with disabilities and impairments to enable them to connect to more businesses and services remotely.
The number of users who could benefit is quite large, as one in four adults in the U.S., and one in five in Britain have a disability, not including temporary disabilities caused by injury or situation.
The company worked with the Digital Accessibility Centre (DAC) and the Royal National Institute of Blind People (RNIB) on auditing and testing the SDK.
New features include haptic vibrations to compliment the screen reader with feedback when an action is complete, optimized screen reader voice specifications meant to ensure instructions include the right context and are delivered in order. The user interface and layouts have been simplified to make them easier to understand, and interface elements and layouts optimized for full usability with different device font size settings.
“With a rapid amount of services moving online, it is critical people living with a disability or impairments can remain independent and carry out everyday tasks with confidence,” comments DAC Director of Operations Gavin Evans. “The accessibility enhancements that optimise digital environments were designed with inclusion in mind and are a practical solution to some of the challenges faced. It is key that users with disabilities, or who may use assistive technologies on a daily basis, are involved in any auditing or assessment.”
Onfido has also published a whitepaper on the process of making its SDK more accessible.
SecureKey announced the integration of Onfido biometrics last week.
iDenfy receives ISO security certification
iDenfy has received assurance that its identity verification technology meets international standards for information security with ISO/IEC 27001 Certification.
The startup is maturing quickly, according to the announcement, and can verify more than 1,300 types of identity documents from over 200 countries.
“We believe every startup should strive for the highest industry standards. Our customers and users should expect it, too, and be granted the assurance that their information will remain secure,” iDenfy CEO Domantas Ciulde explains. “The ISO-27001 certification shows the world that we take our work very seriously.”