Selfie biometrics providers differentiate with UX upgrade, new way to pay
With businesses and public institutions scrambling to onboard remote users with biometrics, Shufti Pro has upgraded its user experience, and Passbase is now accepting cryptocurrency payments, while TruNarrative and iDenfy have each announced new fintech customers.
Shufti Pro upgrades UX for biometric video KYC
With a revamped user experience (UX) for its biometric video know your customer (KYC) solution, Shufti Pro is attempting to push its client satisfaction rate above 92 percent, according to an announcement from the company.
The client satisfaction stat comes from business software resource Crozdesk, which recently awarded Shufti Pro as a product leader, according to a company blog post.
The UX update is intended to improve the solution’s functionality and streamline its use. More detail has been added to the process flow to make it more convenient and easily understandable for end-users and interviewers. The service allows customers to initiate live video calls with KYC agents to perform real-time identity verification.
Customers can submit numerous types of ID documents during initial registration, with optical character recognition (OCR) providing automated ID document data extraction.
“The UX of the Video KYC process has been updated, keeping in mind the customer’s journey,” stated Shufti Pro CTO and Co-founder Shahid Hanif. “It has eliminated the need for customers to go through a lot of instructions since most of the tasks are now performed by the KYC agent.”
The company also recently launched a Chinese-language website to ease the integration of its biometric identity verification.
TruNarrative signs up international payments provider
TruNarrative has entered a new partnership with foreign exchange and international payments firm RationalFX.
Following the beginning of the new collaboration, TruNarrative’s RegTech platform will be deployed by RationalFX to speed up its user onboarding process using various technologies, including biometrics.
“Integrating with TruNarrative reduces the time clients spend onboarding to less than five minutes, enabling them to take advantage of our competitive rates on weekends and out of office hours,” explained David Morgan, product owner at RationalFX.
In particular, RationalFX customers will now be able to verify their identity via document scanning, selfies, and liveness checks.
The RegTech algorithms will be integrated within RationalFX’s existing tech stack, which includes both a core platform and front-end systems.
“[The partnership will also provide] us with a scalable onboarding solution with enhanced fraud detection measures,” Morgan added.
In addition, following the integration, RationalFX will have access to the TruNarrative Appstore, an ecosystem designed to hold various data sources required to onboard and monitor business and private clients across international markets.
iDenfy partners with Clearshift
Clearshift has selected iDenfy’s identity verification services to improve onboarding processes, reduce fraud and improve client satisfaction for its international money transfer services with selfie biometrics.
iDenfy’s platform works through a combination of artificial intelligence and biometric technologies, designed to aid companies meet compliance regulations, prevent fraud, and minimize costs.
“The iDenfy partnership means that Clearshift will be able to simplify identification verification for our clients while reducing fraud,” commented Clearshift Deputy Chief Executive Officer Vytenis Pinaitis.
“Using iDenfy is a win-win from both a regulatory and customer satisfaction perspective,” he added.
iDenfy’s solution offers a number of security features, including ID Document Verification, Facial Recognition, and 3D Liveness Detection.
The company has recently entered a separate partnership with behavioral analytics firm Manu to integrate typing biometrics into its platform.
Passbase now accept crypto payments
Customers of Passbase’s selfie biometrics-based KYC and compliance services on an annual contract can now pay with bitcoin and ethereum, according to a company announcement.
Passbase says it is the only IDV provider on the market that accepts cryptocurrency. The company has roots as a cryptocurrency wallet.