Socure hits customer milestone as selfie biometrics providers disclose deals
A number of firms providing selfie biometrics for identity verification and know your customer checks have shared updates, with Socure announcing it has the milestone of 750 customers, and Veriff partnering with Cards as a Service (CaaS) provider SimpliFi. Also, Profi has implemented iDenfy’s identity verification system, startup Faceki has raised pre-seed funding, GBG joined forces with Novibet to optimize player onboarding experiences and with 360 Dotnet to expand its digital ID network, and FacePhi’s roster of Latin American customers continues to expand.
Socure announce customers’ milestone
The 750 customers’ milestone marks a 277 percent increase in new logos and a net retention rate of 177 percent in 2021 for Socure.
To reach the new milestone, the company reportedly signed up new customers from a variety of industries, including financial services, fintech, cryptocurrency, online gaming, telco, ecommerce, insurance, and healthcare.
According to Socure, the growing adoption of its solution is due to the recent introduction of its biometric KYC and Predictive Identity and Document Verification solutions, which are designed to help companies increase acceptance rates, unlock revenue growth, and reduce fraud.
The news comes weeks after Socure promoted Pablo Abreu to chief product and analytics officer, was placed on FinTech Global’s AIFinTech100 List and won the Aite-Novarica Group’s Impact Innovation Award.
Veriff partners with SimpliFi
A new collaboration will enable SimpliFi’s card issuance customers to take advantage of Veriff’s biometrics solutions in the Middle East, North Africa, and Pakistan.
Veriff’s AI-powered identity verification solutions use a combination of documents, photos, and video verification technology to confirm users’ identities.
Specifically, individuals will be able to verify the identity of cardholders for their individual card issuance programs directly on the SimpliFi platform, as well as meeting their know your customer (KYC) requirements and combat fraud.
Veriff has also recently joined the Visa Fintech Partner Connect program to make its identity verification solutions available to Visa’s extensive network of issuing clients.
iDenfy joins forces with Profi Credit
Lithuania-based firm iDenfy has formed a new partnership to provide Profi Credit with its selfie biometrics-based identity verification services.
Established in Poland as a non-banking financial sector entity in 2004, Profi Credit is part of the Profireal Group worldwide financial division.
The organization recently reported a growing number of customer adoptions online, and in order to provide a reliable identity verification method, Profi Credit turned to iDenfy.
The identity verification company utilizes artificial intelligence (AI) and human supervision to verify more than 1300 different types of identity documents across 200 countries.
iDenfy recently also partnered with DoFinance to enable the company to switch from manual to automated ID document verification.
GBG expands digital ID network, deployed for online betting
According to Nikos Katsaros, legal and compliance director at Novibet, the firm chose GBG’s onboarding technology because of its extensive global presence.
Speaking to Casino Beats, Katsaros said the move will also aid Novibet in understanding a player’s affordability status in real-time and apply a risk level.
This not only will help the company identify vulnerable players, but will also remove unnecessary friction to the user journey.
The partnership comes days after GBG’s digital identity fraud prevention and regulatory compliance technologies won one of the most important prizes at the Asia Risk Awards 2021.
GBG also entered a partnership with 360 Dotnet this week, focusing on expanding 360 Dotnet’s end-to-end practice management system by adding digital document identity verification and AML checks.
BestAdvice reported on the news and said that, following the beginning of the partnership, advisers will now be able to record and electronically identify clients by sending them a link, then enable identification by taking a photo or uploading a picture of their ID.
In addition, using the platform, financial advisers will also be able to check and prove a client resides at their permanent address, as well as investigate any Politically Exposed Persons (PEPs) and sanction hits and identify if they are on the electoral register.
The new GBG features will be integrated within the 360 Case Record and the FactFind platform and will enable the firm to reduce the risk of fraud and speed up onboarding times.
Faceki closes pre-seed round
Faceki, a UAE-based startup which provides a facial recognition platform for fraud prevention, has closed a pre-seed finance round the company plans to invest in expanding its team, further technical innovation and reaching new global markets.
Nama Ventures is Faceki’s new backer, though the amount of financing committed was not disclosed.
Faceki was founded in March 2020 to help organizations onboard their users remotely, and its technology includes biometric spoof detection, according to a company announcement.
The company has also won several regional awards in 2021.
FacePhi signs up non-bank financial
FacePhi has signed up Argentinian financial services provider Efectivo Sí to integrate its digital onboarding system with selfie biometrics into a web platform for loan applications.
According to a company announcement, the integration enables Efectivo Sí’s customers and potential customers to request loans from anywhere, with identity verification completed within 5 seconds.
The integration is being carried out along with FacePhi’s country partner Compusistem.