Sumsub, Acuant each form partnerships to upgrade biometric KYC, fraud detection solutions

Sumsub is integrating ID document scanning technology from Smart Engines with its biometric know your customer (KYC) and digital identity verification platform to prevent the use of forged IDs.

Smart Engines’ ID scanning software improves the speed and accuracy of Sumsub’s fraud detection, according to the announcement, and features ‘Computation Document Forensic AI’ to detect optical variable devices like holographic security elements, and special visual security elements like monograms. The technology also supports inspections within video streams, which is the channel Sumsub uses to carry out its biometric and liveness checks for KYC and anti-money laundering (AML) processes.

The partnership also enables Sumsub to carry out data cross-comparisons with data captured with Smart Engines’ GreenOCR technology, and enables documents in more than 100 languages to be processed.

“Smart Engines’ computational document forensics and ID scanning will help us perform more sophisticated and accurate document authentication in under a second, delivering the excellent user experience and data safety that people deserve,” states Jacob Sever, co-founder of Sumsub.

Sumsub launched face biometric liveness detection to its platform earlier this year to upgrade its remote customer onboarding security.

Acuant partners on crypto compliance

Acuant has partnered with blockchain analysis provider Chainalysis to bring the latter’s platform to its interface for managing higher-risk transactions with robust AML protections.

The capabilities of Chainalysis Know Your Transactions (KYT) and its Reactor graphical investigative software will be available through Acuant Compliance.

Acuant Compliance already provides comprehensive AML solutions, including biometric KYC checks, transaction monitoring and suspicious activity detection, sanctions and PEP screening, case management and multijurisdictional regulatory filing.

“Our partnership with Chainalysis will further augment our support to the cryptocurrency industry. This partnership is bringing together and integrating the top Anti-Money Laundering solutions in the marketplace today,” comments Jose Caldera, chief product officer at Acuant. “We look forward to working with Chainalysis to strengthen our platform and to continue to be a leading solutions provider in the crypto space.”

Acuant’s biometric AML and KYC technologies were also selected by Scalable Solutions for secure exchange of cryptocurrencies and other digital assets in March.

Article Topics

Acuant  |  biometrics  |  digital identity  |  fraud prevention  |  identity verification  |  KYC  |  Smart Engines  |  Sumsub