Acuant partners with Traxx on biometric authentication for secure transactions
Identity verification solutions provider Acuant has partnered with Traxx Payments to develop a digital Know Your Customer (KYC) process called Traxx.ID.
Under the partnership, Acuant’s document authentication and biometric facial recognition capabilities will be integrated within Traxx’s digital KYC platform. This will allow the company’s customers to be able to utilize Acuant’s AssureID and FaceID solutions to verify their documents.
“TRAXX can now replace the manual process of visually inspecting documents, a task which is not only time consuming but also dependent on the skill of the human inspector,” said Traxx Managing Director Derek Han. “Acuant has afforded us a great convenience by not only eliminating the need for both parties to be present at the same location but also at the same time.”
Traxx is a global payment processing service provider that analyzes and optimizes transactions’ quality, also implementing anti-fraud measures to ensure secure transactions.
The company counts clients such as Visa and Mastercard but has so far sent them KYC screen packages either physically or digitally.
Through Traxx.ID, the firm will now be able to increase the operational efficiency of companies’ transaction processes, while also tackling transaction fraud online.
“In this time of increasing digital transactions and fraud, businesses have to keep up with secure solutions that employ automation,” explained Acuant CEO Yossi Zekri. “Our goal is to make this as easy to implement as possible and to provide world-class support.”
More recently, Acuant joined the Digital ID & Authentication Council of Canada (DIACC) to support the creation of a trust framework for more secure digital identity solutions in the country.