ID R&D biometrics and liveness selected to power Credas onboarding solution
Biometric authentication providers have signed up new customers in several industries, including a new onboarding client for ID R&D, an escrow service adopting Passbase technology, and digital wallet implementing Onfido for signups. AU10TIX, meanwhile, has been handling a demand surge in the cryptocurrency industry.
Credas Technologies, a UK-based biometric identity verification provider helping businesses carry out digital transformation, has chosen ID R&D’s IDLive Face passive facial liveness detection to power its frictionless anti-spoofing capability during onboarding and background checks.
IDLive Face ensures liveness during remote identity verification, and will help Credas customers meet know your customer, anti-money laundering and right to work regulatory requirements, according to the announcement.
Credas had previously used a liveness detection solution based on user actions carried out in response to challenges from the system, and was able to switch to ID R&D’s iBeta-tested presentation attack detection technology within just a few days of completing internal testing.
“Verifying a customer’s identity is a necessary security step, but also an opportunity to make a first impression with a new customer or employee,” states Rhys David, CEO at Credas. “We develop robust solutions that address complex requirements without a complex user experience. It is important to streamline every step of the process and ID R&D enables us to simplify the user journey and deliver an effortless and accurate liveness check.”
The solution is now in production with multiple clients, including a multinational professional services firm, ID R&D says.
“Credas takes time-consuming and resource-intensive processes and simplifies them so that businesses can meet compliance obligations while delivering an exceptional user experience,” comments ID R&D President Alexey Khitrov. “Credas is well positioned to help their clients increase acquisition and loyalty through its advanced identity verification solutions.”
Passbase biometrics power onboarding for escrow service
Passbase has been selected by trustshare to provide document verification and biometrics for its escrow services.
Trustshare enables service marketplaces, gig economy and classified brands to integrate escrow offerings with just five lines of code, holding money until a purchase has been completed and verified. This allows marketplaces to be transactional, according to the announcement, and provides a safe way to make B2B and C2C payments. Securing payment on bookings also allows business to prevent buyers and sellers from skirting their platform to avoid commission fees.
Users can onboard to trustshare’s platform by having a government issued ID verified and checked against a biometric selfie with Passbase’s technology. Passbase also provides an AML compliance solution to ensure trustshare’s regulatory compliance.
“trustshare shares our philosophy of creating trust online and we’re thrilled to work with them and help them scale,” says Mathias Klenk, CEO and co-founder of Passbase. “The ability of trustshare to present new payment options for online businesses will be vital to help many businesses around the world digitize and create more value.”
AU10TIX reports huge identity verification volume increase from some cryptocurrency exchanges
Cryptocurrency demand is surging, AU10TIX says, and the company is supporting that surge with a 623 percent increase in the volume of identity verifications it has carried out for some exchanges over the past eight weeks.
The company cites PayPal’s recent decision to support cryptocurrency transactions by U.S. customers and the record-high bitcoin price as evidence of momentum in the space.
AU10TIX Active Deputy Chairman Ron Atzmon says AU10TIX was able to handle the demand spike without any impact in its speed or performance.
Automated identity verification is more appropriate for cryptocurrency exchanges than manual ones, AU10TIX argues, because they are sensitive to processing time and bottlenecks.
“The extreme volatility of crypto markets requires consumers to execute transactions in real-time to capture the highest value, which leaves no room for friction in the experience. An efficient onboarding and approval process is paramount,” states AU10TIX Chief Product Officer Jonathan Wilson. “AU10TIX’s automated identity verification solutions enable decisions in 4-8 seconds, not minutes, hours or days, so digital currency exchanges can safely keep pace with crypto consumer expectations.”
Onfido chosen for digital wallet onboarding
Instapay customers can use Onfido’s ID (identity document) verification service, powered by artificial intelligence, to sign up with a photo of a government-issued ID document and selfie biometrics.
“Many of our customers work long shifts, and in remote locations. We want to give them the ability to complete their documentation process at their convenience and with minimum friction”, Rajnish Kumar, co-founder and CEO of Instapay said.