GBG adds NFC scanning to document check and selfie biometrics with InnoValor partnership
The combination of InnoValor’s ReadID NFC solution for document inspection and data extraction with GBG’s identity document verification with selfie biometrics is intended to simplify user onboarding, prevent fraud, and provide improved user experiences and digital trust.
Fraud has been surging during the COVID-19 pandemic, with GBG research suggesting one in five people have experiences identity fraud.
GBG’s biometric IDScan solution verifies individuals’ identities in five seconds or less, according to the announcement, with consistent and accurate results.
“Identity is becoming increasingly complex, and as more people make the move to digitally led lives, establishing digital trust and navigating fraud prevention, without interrupting the user experience online, is going to be increasingly difficult,” states Gus Tomlinson, general manager at GBG. “That’s why we’re so thrilled to be working with such strong partners within the industry – InnoValor understands the balance required to keep people safe while giving them the best experience possible. As we move through 2021 and things continue to move to digitally-led, we feel confident we can keep up with the pace of consumers with them onboard.”
GBG says its selection of InnoValor over open-source options is based on the latter’s ability to precent NFC-chip cloning, which provides enhanced risk mitigation.
“The partnership with GBG brings the smartest solution for identity verification into the market,” according to Maarten Wegdam, CEO of InnoValor-ReadID. “NFC first is the best way to combine security and optimal user experience. InnoValor is the most experience provider of NFC based identity verification. In combination with GBG’s IDScan technology it brings a world-class solution to the market.”
New CFO and board member unveiled
David Mathew Ward has been appointed as GBG’s new chief financial officer and will join the company’s board as he takes over for departing COO and CFO Dave John Wilson, according to BusinessCloud.
Under Wilson’s leadership, GBG evolved from a small operation to an international player with nearly two-thirds of its revenue coming from outside the UK. GBG’s market capitalization increased from £14.2 million (US$19.5 million) in 2009 to £1.7 billion ($2.3 billion) in 2021.
Ward has spent the past ten years with Aveva, an FTSE 100 global software firm, serving as its CFO prior to its merger with Schneider Electric’s software group.
“I will be joining GBG at a very exciting chapter in its growth journey and look forward to leveraging my experience of international expansion and finance operations to enable further success building on Dave’s impressive legacy,” states Ward.