IDmission biometrics and liveness added to Enacomm stack for fintech onboarding
Enacomm has formed a partnership agreement with IDmission to bring biometrics and other AI technologies to Enacomm’s fintech customers for end-to-end digital transformation of applications relying on identity verification.
IDmission’s passive liveness, de-duplication, identity-proofing-as-a-service and enhanced biometric multi-factor authentication (MFA) will be available to Enacomm customers to streamline their onboarding processes, while boosting security.
The companies cite a recent Feedzai financial crime report that indicates a 650 percent global increase in account takeover scams in Q4 2020, compared to Q1 2020.
“Remote, digital transactions skyrocketed amidst the pandemic, and so did fraud, making the need for fast, secure authentication of customers more important than ever,” comments IDmission CEO Ashim Banerjee. “Biometric technology has become significantly more reliable in recent years, earning it an indispensable role in the Multi-Factor Authentication process.”
The companies say IDmission’s solutions authenticate ID documents, match biometric selfies against them, and can even reduce system racial bias with AI tools, and the partnership can improve customer acquisition rates.
“ENACOMM is proud to add IDmission’s world-class biometric and AI-powered identity solutions to our comprehensive technology stack that empowers financial institutions and payments companies with affordable solutions for improving the customer experience, fighting financial fraud, and increasing operational efficiency,” says Enacomm CEO Michael Boukadakis. “ENACOMM’s ultimate goal is to provide our valued customers with a digital gateway that enables them to choose the best available technologies for meeting their needs, despite core platform and provider constraints.”
IDmission was recently certified to the ISO 27001 security standard.