Prodigy rolls out all-in-one biometric ID verification suite
Prodigy Ventures has launched a biometric identity verification platform dubbed IDVerifact, which it says is intended to address the complexities that come with dealing with different identity solutions for different verification purposes.
Prodigy counts BioConnect, IDmission and TruNarrative as biometric and identity verification technology partners. The company says its new platform comes to eliminate the need for businesses or organizations to have to use multiple identity verification platforms for specific identity verification requirements, especially as the demand for digital identity continues to rise.
IDVerifact features know your customer (KYC) and anti money-laundering (AML) tools, multi-factor authentication and passive biometric liveness. A screenshot on the company website depicts biometric tools for ‘digital step-up’ and facial deduplication.
The platform provides the ability to combine and access a complete suite of leading digital identity providers to meet any business use case, and in so doing helping customers better preempt fraud, easily identify risks as well as ensure compliance and improved user experience.
The company said the new platform will also enable online stores, lottery and gaming platforms, financial service providers and insurance industry customers to grow their revenue.
“Our mission at Prodigy is to deliver Fintech innovation. We are excited to launch IDVerifact, our new, advanced digital identity platform. There is great demand for this platform, which simplifies the complexities of integrating, customizing and maintaining a broad range of digital identity solutions for enterprises in all sectors,” said Tom Beckerman, chairman and CEO of Prodigy.
IDVerifact Senior Vice President George Colwell said the product is intended to help their clients rethink their customer experience.
“There has been explosive growth in the range of digital identity solutions available on the market, with signs of additional momentum in the near future. The advances in digital identity globally, and our partners’ innovations, are a great leap forward. However, enterprise consumption of these various niche solutions still presents the challenges of integration, orchestration, and the continuous innovation and adoption of new digital identity types and solutions. IDVerifact is built to eliminate these complexities,” he said.
He added: “We are excited to help our clients rethink and re-engineer their customer experiences with IDVerifact for rapid adoption, time to market, and value realization from digital identity solutions.”