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BioConnect and IDVerifact partner on digital ID verification and biometrics applications

IDVerifact is a subsidiary of fintech firm Prodigy Ventures
BioConnect and IDVerifact partner on digital ID verification and biometrics applications
 

A new partnership will see IDVerifact integrate BioConnect‘s Trust Platform into its own digital ID platform. This will include BioConnect’s multi-factor authentication (MFA) and endpoint security solutions, which will expand the passive and passwordless capabilities of the IDVerifact platform.

“BioConnect is leading in the provision of digital and physical biometrics solutions,” commented George Colwell, SVP of Digital Practices at IDVerifact.

“Providing the ability to remove friction in existing identity validation and confirmation processes to our clients is essential in today’s digital world.”

The BioConnect Trust Platform comprises a number of tools designed to enhance existing security systems with the addition of biometric and mobile authentication capabilities.

The company’s tools are mainly intended for large enterprises with complex infrastructure and security requirements.

BioConnect’s Trust Platform has reportedly proven to reduce the risk of fraudulent digital transactions or access, as well as increasing regulatory compliance for applications where physical assets or facilities need to be secured.

IDVerifact is a wholly-owned subsidiary of Canadian fintech firm Prodigy Ventures.

The spin-off was launched in June this year “to address the complexities that come with dealing with different identity solutions for different verification purposes.”

Upon launch, IDVerifact had already confirmed partnerships with IDmission and TruNarrative, as well as the ongoing relationship with BioConnect.

“The integration of BioConnect’s Trust Platform with Prodigy’s IDVerifact will deliver identity assurance and adaptive authentication through mobile-based multi-factor biometric authentication for digital transactions to meet enterprise customers’ security needs, compliance requirements and to prevent fraud,” said Mark Brady, VP Strategic Markets at BioConnect.

The partnership with IDVerifact follows another one BioConnect entered with HID Global in June.

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