TrustID, AuthMe, and KABN reach for new digital ID verification markets
The start of 2021 is bringing several tech companies together, working on biometric and digital identity solutions.
This past week alone, identity document experts TrustID and financial crime digital ID platform TruNarrative have partnered on new onboarding strategies, Taiwanese startup AuthMe showcased new solutions for digital KYC and fraud detection, and KABN partnered with Imagine AR on biometrically verified augmented reality.
TrustID and TruNarrative partners on expert document review
TrustID provides financial crime detection, customer onboarding, and transaction monitoring to a number of institutions, including banks, e-commerce businesses, and gambling operators. TruNarrative customers gain the option to refer identity documents to human experts for an extra layer of security.
The partnership will also see TrustID customers having access to KYC, address verification, and PEPs and sanction checks provided by TruNarrative via a single API through an integration of the latter’s technology with the TrustID platform.
AuthMe offers biometric remote KYC and fraud detection advice
Taiwanese startup AuthMe is exhibiting its ID document check and selfie biometric technology at CES 2021, and has published new guidelines on how to circumvent the issues connected with Know-Your-Customer (KYC) processes.
According to AuthMe, these processes are currently time-consuming, cost excessively, and have questionable ID authenticity.
To solve these issues, the startup proposes using KYC solutions powered by biometric ID verification, facial recognition, and liveness detection.
These should be paired with fraud detection solutions to identify tampered documents, spoofing figures, abnormal IP, applications, and behaviors, the company argues.
KABN North America and Imagine AR bring augmented reality to biometric verification
The companies have signed a multi-year licensing agreement to work on augmented reality (AR) immersive experiences designed to work with Liquid Avatar, a tool that allows users to biometrically verify their Self Sovereign Identity (SSI).
Through Imagine AR’s SDK and cloud-based studio suite, KABN will deliver a series of AR experiences to the Liquid Avatar mobile app users in the next few months.
These will include social, event, educational, and information-based experiences in which users will be able to share AR enabled resumes, invitations, event programs, and other information.
Liquid Avatar is also currently exploring interactive digital wallets that will allow users to store all their access and digital ID credentials in the same place.