FB pixel

OneBanks integrates Trust Stamp face biometrics to improve financial service accessibility

OneBanks integrates Trust Stamp face biometrics to improve financial service accessibility
 

Fintech platform OneBanks is integrating Trust Stamp’s facial biometrics into its customer authentication systems to provide secure and low-friction banking experiences, according to a company announcement.

OneBanks is attempting to maximize the accessibility of its financial services, including to people most likely to be left behind by broad shift towards cashless transactions. Part of the way the fintech proposes to do this is by launching bank-agnostic kiosks to geographies removed from physical branches.

Trust Stamp, for its part has a focus on bringing digital identity tools to low-connectivity environments to deliver financial access to remote locations. The company also says its biometric identity solutions are privacy-preserving, and promote universal accessibility.

“If there’s one thing we’ve learnt in 2020 – it’s that we need people.  And we plan to do something really radical – by using new, advanced technology, we’re bringing banking back to people,” states OneBanks CEO Duncan Cockburn.

“Security and privacy protection were front of mind when we were developing our solution, but we knew we needed to combine that with a great customer experience. Trust Stamp have been able to provide us with that through their privacy protecting identity token. We’re delighted to be working with them as we launch our service in the UK.”

OneBanks uses custom APIs for customer risk assessment by integrating with the transaction risk tolerance system at each bank it interacts with. Trust Stamp will contribute its regulatory compliance and fraud prevention capabilities, the companies say.

“To successfully drive a digital-first future that fosters equitable financial access, FinTech companies and traditional banks need to work together to address the needs of all existing and potential users, regardless of their individual footholds in the evolving digital transformation,” Trust Stamp Chief Commercial Software Emma Lindley says. “Advanced banking tools that prioritise trust, security and privacy depend on accessibility to create a lasting impact in the future of finance.”

Article Topics

 |   |   |   |   |   |   |   | 

Latest Biometrics News

 

Biometrics connecting ID and payments through digital wallets, apps and passkeys

Biometrics are connecting with payment credentials, whether through numberless credit cards and banking apps or passkeys, as the concrete steps…

 

Reach of Musk, DOGE’s federal data access sets off privacy, security alarms

Led by tech billionaire Elon Musk and a shadowy team believed to be under his control, the United States DOGE…

 

Mobile driver’s licenses on the cusp of ‘major paradigm shift’

More entities have integrated the California mobile driver’s license (mDL) credential for identity verification. Although just 15 states have introduced…

 

Gesture-based age estimation tool BorderAge joins Australia age assurance trial

Australia’s age assurance technology trial is testing the new biometric tool that performs age estimation based on hand gestures. The…

 

European AI compliance project CERTAIN launches

The pan-European project to create AI compliance tools CERTAIN has kicked off its work, with the goal of making European…

 

Signaturit Group acquiring Validated ID for undisclosed sum

Spain-based digital identity and electronic signature provider Validated ID is being acquired by Signaturit Group, a European company offering identity…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events