Acuant adds video KYC tool to biometric identity verification platform
Acuant has added video KYC capabilities including face biometrics to its Trusted Identity Platform for fraud prevention and compliance with anti money-laundering (AML) requirements.
The new Acuant Video KYC tool includes interaction with a live agent, with a connection established within two minutes of starting the process, and orchestrates ID document authentication, biometric matching, and optional layers of personal data checks. The additional layers can include sanctions and politically-exposed persons (PEP) lists. The company says the whole process, which is available around the clock seven days a week, takes under five minutes.
Video KYC is required under AML mandates in some nations in both Europe and South America, Acuant notes. The process also gives businesses greater assurance of the identity of their customers, and provides a user-friendly workflow for end users regardless of their comfort level with digital technology.
Acuant has booked eight consecutive quarters of best-yet revenues as it carries out its global expansion plans.
“Our mission of powering trust for all is driven by delivering the gold standard in identity proofing and making that accessible to the entire global population,” comments Acuant President and CEO Yossi Zekri. “The addition of Video KYC to Acuant’s Trusted Identity Platform is helping to drive our mission and we are proud to continuously deliver on this, allowing our customers to quickly adapt to the fraud landscape.”
Acuant can now verify the identity of more than 90 percent of the world’s people with its selfie biometrics and a document library of more than 6,500 templates. It also picked up the ability to analyze digital footprints and social media data to process thin-file populations and meet requirements for alternative data through its acquisition of Hello Soda earlier this year.