Fabrick launches mobile biometric open finance solution with Mastercard APIs
Italian open banking developer Fabrick has announced the launch of two separate applications for banks, fintechs, and enterprises, one of which involves biometrics.
The InControl for Business and Identity Check Mobile (IDCM) tools jointly make up Controls for Business, a solution suite built on Mastercard’s application programming interfaces (APIs).
“We are delighted to strengthen our strategic partnership with Mastercard to deliver seamless solutions that harness the transformative power of Open Finance and realize concrete benefits for banks, fintechs, enterprises, and end customers,” said Marco Casartelli, deputy CEO of Fabrick.
Fabrick’s IDCM tool is a biometric recognition platform designed to allow the integration of face, voice, and fingerprint recognition capabilities within banking and other finance-related apps, both online and offline.
Apps built with IDCM can also enable users to perform additional tasks, such as updating personal details in online banking, withdrawing cash in-branch and contacting a bank call center.
“IDCM is highly innovative and proven in the market and we look forward to developing new use cases. IDCM is the future of secure and fast identity verification, and with InControl for Business, we have brought to market a new intelligence-driven solution that offers SMEs empowering real-time control,” Casartelli concluded.
Controls for Business is based on Mastercard’s InControl APIs and is designed to facilitate API integration within apps built to control the use of company credit and debit cards issued to employees for expenses and business costs.
The solution suite enables financial institutions to provide a multi-channel experience across mobile, tablet, and PC, and offers several features.
These include setting different profiles for groups of users as well as setting limits and restrictions regarding how and where their cards can be used.
It can also extend card programs into new payment categories with enhanced controls and additional features, potentially opening the path to new revenue opportunities.
The release of the new API-based solutions comes months after Fabrick launched a new biometric authentication app for remote transactions in collaboration with retail banking group Crédit du Nord.