Remote biometric onboarding customer wins for Onfido, TruNarrative and Jumio
Biometrics are delivering authentication for ever-more digital onboarding and regulatory checks around the world, with Onfido technology implemented by a health app, TruNarrative signing up a challenger bank, and Jumio adding two new customers. In India, the microfinance industry is seeking approval for video KYC processes.
Biometric authentication technology from Onfido has been integrated with the Klarity health risk assessment app from Delfin Health to onboard users safely and security with ID document and self facial recognition checks.
Klarity is used by employers to predict, monitor and test employee’s health without compromising their privacy, according to the announcement. The company says it can also be used as a two-test solution for travel, to reduce quarantine time. Developed by Delfin Health and DocHQ, Klarity uses artificial intelligence to perform health and COVID-19 risk assessments, and provides a digital wallet to allow people to control their own health data.
Onfido’s technology is used to authenticate the identity of people signing up with a photo of a government-issued ID document and a short video selfie for matching with facial biometrics to ensure the identity is legitimate and the correct person is physically present.
Users are asked a series of questions and asked to upload COVID-19 test results or vaccination records. A score is generated with a proprietary health scoring methodology and prediction engine Delfin Health says is modelled on seven million patient years of health and lifestyle data. Facial recognition is used to unlock the score so it can only be seen by the app user and shared securely with an employer, healthcare professional, or airport immigration official.
“As employers like Bloomberg begin offering cash incentives to get their staff back in the office, it’s more important than ever to ensure employees can return in a safe and secure way,” says Will Cooper, CEO of Delfin Health. “Our partnership with Onfido allows us to do this by securely binding a person’s digital identity with their health status. Maintaining security and privacy is at the core of our health data management platform and through Klarity, we can help get the economy moving again with more people returning to work and embarking on international travel.”
TruNarrative biometrics to authenticate business loan applicants
UK-based specialist bank Paragon Bank has selected TruNarrative’s platform for biometric identity verification and other technologies to satisfy the regulatory requirements of Bounce Back Loans for small and medium-sized enterprises.
Businesses can be onboarded for Bounce Back Loans, following Paragon’s appointment as the 20th provider for the program, through eKYC, eKYB, PEPs and Sanctions checks through TruNarrative’s API. TruNarrative also provides anomaly and money laundering detection.
The integration and deployment added real-time financial crime decisioning and risk assessment within only three weeks, according to the announcement.
“Combining the technical proficiencies of Paragon Bank’s IT Team and depth of domain knowledge from their Financial Crime Team, we have collectively demonstrated that financial crime change projects can be completed in a matter of weeks rather than months or years,” TruNarrative Head of Banking Edward Vaughan comments.
Jumio signs up securities and delivery companies
Phillip Futures customers will be able to complete an online account opening process through ID document and biometric selfie checks with Jumio’s biometrics, for a fast and secure digital onboarding experience that meets data privacy standards and other compliance requirements.
“The challenge for us is not only to avoid compromising, but to improve customer experience. With identity verification taking less than five minutes, we expect more account applications and more satisfied customers,” says Phillip Futures CEO Teyu Che Chern.
Phillip Futures says the implementation of Jumio’s solution will most benefit its non-Singaporean users, who do not hold the SingPass and MyInfo digital identity credentials.
Latin American delivery startup Rappi is also implementing Jumio biometric identity verification for new customers and delivery couriers.
Rappi was founded in 2015, and serves millions of customers in Columbia, Argentina, Brazil, Chile, Costa Rica, Ecuador, Mexico, Peru and Uruguay.
The Rappi platform allows customers to place orders for same-day deliveries from retailers like restaurants and supermarkets, and includes a virtual wallet and debit card for money transfers, purchases and cash withdrawals from ATMs. The company tapped Jumio to build an automated digital onboarding experience for its customers to help it scale geographically while meeting KYC compliance mandates.
“With Jumio, we can confidently verify the identities of our banking customers and delivery drivers almost instantly and without the need of human review,” states Juan Pablo Ortega, Rappi co-founder. “We have also been able to make our platform much more secure by authenticating our drivers before each delivery.”
Rappi is using Jumio Identity Verification for RappiPay in Mexico and Peru, and Jumio Document Verification and Jumio Screening to meet Mexican regulatory requirements. Jumio Authentication is used by Rappi in Mexico, Colombia, Brazil and Peru to verify the identity of Rappi Tenderos couriers when assigning deliveries.
“We are extremely proud to partner with Rappi and support their rapid expansion throughout Latin America,” says Robert Prigge, Jumio CEO. “By using many of Jumio’s AI-driven solutions, Rappi is able to provide a seamless digital onboarding experience while meeting compliance mandates and protecting its business lines from fraud and bad actors.”
Between the value of healthcare records for cybercriminals, and the risks of mismatched patient health data, the same principles and biometric technologies that are applied to the KYC space could be deployed to help healthcare providers perform “Know Your Patient (KYP)” checks, Jumio VP of Global Marketing Dean Nicolls write in an editorial for Healthcare Global Magazine.
Over the past decade, more than 175 million healthcare records have been breached, and healthcare insurance fraud and reputational damage compound the risk of poor patient identity verification. KYP can also streamline patient intake processes and automate data capturing to reduce human errors.
An ID document check and 3D biometric facial recognition can protect legitimate patients, along with healthcare organizations, Nicolls concludes.
Microfinance in India need biometrics for remote KYC
Microfinance industry lobby Sa-Dhan has written India’s banking regulator and government to request approval for the use of digital KYC authentication with facial biometrics, as used by other financial services operators in the country, Money Control reports.
Commercial banks in India became eligible for eKYC authentication at the beginning of this year.
Loan processing time and costs have increased for non-bank financial institutions and microfinance lenders since the sector was barred from using only KYC videos, leading Sa-Dhan to write to the UIDAI and RBI.