Selfie biometrics for online pet sales and financial services among latest remote onboarding launches
The pace of remote onboarding implementations remains steady, with Onfido signing up an online marketplace for its selfie biometrics, while TruNarrative and IDnow have had their technologies integrated by new partners. eID has launched a new onboarding solution, Experian has been declared a leader in the field by an analyst firm, and Smart Engines has won a document-scanning customer, while an Indian insurer has launched an Aadhaar-based digital KYC service.
DeineTierwelt selects Onfido
German-language online pet marketplace DeineTierwelt has selected Onfido to provide biometric identity verification as a means of fighting identity fraud and illegal puppy trading, which has increased during the pandemic, according to a company announcement.
DeineTierwelt customers can sign up for the platform, on which around 200,000 animals are sold each year, with an identity document photo and selfie biometrics.
Unscrupulous pet sellers take advantage of anonymous online pet sales, the companies say, and DeineTierwelt Managing Director Daniel D’Amico states that long-term success for the company will come from prioritizing animal welfare.
eID launches HelloID
Electronic IDentification (eID), recently acquired by Signicat, has launched a remote onboarding solution based on qualified electronic signatures (QESs) which the company says is compliant with anti money-laundering (AML) and European eIDAS regulations.
The new HelloID is geared towards financial services providers and governments, eID says, and can help them reduce their time to market from months to hours.
“The development of this type of project usually takes between six and eight months,” comments Iván Nabalón, founder and CEO of Electronic IDentification. “Because of the momentum we are in, we are seeing more and more companies needing digital solutions that allow them to expand both nationally and across Europe. HelloID sets an unparalleled precedent as it can be consumed much faster and allows any company, whether it is a multinational or a startup, to quickly integrate any onboarding process.”
TruNarrative technologies including biometric onboarding and account and transaction monitoring have been integrated with the Canny Cloud platform for delivery to financial services companies.
Customers of Canny’s financial services marketplace can implemented TruNarrative’s financial crime decision engine and access its third-party app store to build their remote customer onboarding and regulatory compliance systems through whitelabelled API solutions.
The partnership allows Canny to rapidly expand its marketplace offering, according to the announcement, with access to TruNarrative’s data partnerships, such as with leading credit reference agencies.
“Through our strategic partnership with Canny, firms will be able to access the latest in RegTech innovation, reducing their requirement for development resources and increasing the speed they can bring their products to market,” says John Lord, TruNarrative CEO. “We look forward to working with them and helping them and their customers grow.”
IDnow is providing ID document and selfie biometrics to Jersey-based fintech MYCDD to expand the client due diligence tools it offers to its financial services customers.
With the integration, the full identity verification process takes only a few minutes, the companies say.
“MYCDD was launched in response to a rise in demand for cutting-edge digital due diligence solutions, with a vision to save financial services businesses time and money by revolutionizing the way due diligence is gathered, managed and shared,” explains MYCDD CEO Stephane Gimenez. “Working with IDnow represents a big step in doing that – through the IDnow platform we can offer users a better experience, efficient onboarding and best in class security.”
Experian, meanwhile, has been named a leading provider of fraud detection and prevention by Juniper Research. The Juniper Research ‘Online Payment Fraud Report 2021’ highlights Experian’s flagship identity and fraud prevention platform CrossCore, which features biometrics from partners including BioCatch and Onfido, for its approach to combining dynamic data sources with machine learning.
ID document scanning
Smart Engines has been selected by Alfa Capital, one of Russia’s largest asset management companies, to provide ID document scanning and optical character recognition.
Alfa Capital has integrated Smart ID Engine in its mobile application for secure, automated data extraction and simplified account sign-ups.
“We are proud that our state-of-the-art technologies are getting to be more and more used in various industries. The increased demand for Smart Engines software products is formed due to the guaranteed reliability, accuracy and speed of recognition. The company’s extensive experience in the field of AI and computer vision paved the way for digitizing such processes as onboarding, payment purchase, check-in, and others,” states Smart Engines Chief Financial Officer Nikita Arlazarov.
Indian life insurance company Bajaj Allianz Life has introduced an Aadhaar-based digital know your customer (KYC) process for authentication of customers purchasing policies, Outlook Money reports.
The process consists of applicants submitting their Aadhaar card details, with biographic information auto-filled with data from the Unique Identification Authority of India (UIDAI) to speed up the application process.
biometrics | digital identity | Electronic IDentification | Experian | fraud prevention | identity verification | IDnow | KYC | onboarding | Onfido | remote authentication | secure transactions | Smart Engines | TruNarrative