FacePhi, Socure, Basis ID bring biometrics and KYC to fintech, invest-tech, online gaming
Ease of use, security, and trust are among the top concerns across various industries that are shifting into the digital realm. Amid this ongoing trend, several new partnerships bring together fintech, invest-tech, and online gaming firms with providers of biometric digital onboarding and KYC compliant user verification.
FacePhi brings SelphID face biometrics onboarding to Argentine invest-tech Inviu
FacePhi is expanding its Latin American fintech footprint thanks to its latest partnership with Argentine invest-tech Inviu. The deal will bring FacePhi’s signature biometric digital onboarding system SelphID to Inviu customers who will be able to create accounts using their mobile phone camera. Thanks to SelphID’s face biometrics and document capture capabilities, clients can now complete the account onboarding process 100 percent digitally, making in-person visits obsolete. Compusistem, one of FacePhi’s tech partners, helped implement SelphID into Inviu’s infrastructure. This latest partnership continues FacePhi’s successful venture into the Latin American fintech market, following two consecutive deals with Peruvian BCP and Argentine Banco del Sol.
FacePhi CEO Javier Mira explained, “The digitization of banking and financial services continues to strongly advance in Latin America, where it is increasingly common to replace office procedures with remote contracting based on biometric technology, much more agile and with all the security guarantees for the client. Also, in a context marked by Covid, the commitment to a contactless service that can be accessed from one’s own home is an added value that more and more people are looking for.”
Socure signs multi-year agreement with DraftKings to boost KYC compliance
Socure announced that it has signed a partnership with DraftKings, a digital sports entertainment and gaming firm. As part of the multi-year agreement, Socure will provide its Socure ID+, Intelligent KYC, and Global Watchlist solutions to introduce a set of robust compliance tools to DraftKings’ onboarding and verification processes. This new partnership will streamline digital ID verification for DraftKings customers in Colorado, Illinois, Indiana, Iowa, Michigan, New Hampshire, Pennsylvania, Tennessee, and West Virginia. Socure is also planning to expand these services to New Jersey and Virginia.
Socure CEO Johnny Ayers explained, “Socure’s Intelligent KYC passively verifies the identities of qualified players online quickly and accurately while increasing new player conversions and reducing drop-off rates. Our Global Watchlist solution works alongside our Intelligent KYC product to deliver true continuous monitoring of player eligibility, resulting in uninterrupted compliance with Anti-Money Laundering (AML) and KYC regulations for online gaming providers.”
Basis ID brings biometric liveness detection and KYC-compliance to Swag Bitcoin exchange
Basis ID announced that it will partner with Bitcoin community Swag to bring biometrics, liveness detection, and KYC-compliant user data verification to its members. Swag will implement the solution on its Swaggy Bitcoin exchange platform, which is accessed by users worldwide. In addition to this, Basis ID and Swag collaborated to translate and adapt the interface to the Italian language as a majority of Swag clients reside in Italy.
Basis ID Akim Arhipov stated, “We are honored to work with SWAG. The company is very much focused on counter-fraud and it correlates with our mission. Having said that, we are working together to increase the pass rate. Our goal is to verify 1,000,000 users for SWAG by the end of 2021.”