New customers, features for European selfie biometrics, IDV providers
Biometrics and identity solutions providers across Europe including FacePhi, iDenfy and Qoobis unveil details about their newest partnerships with a particular focus on selfies as a form of onboarding for financial services and fintech clients. Meanwhile, Blinking has added a new feature and PXL Vision a new delivery model to their remote customer onboarding solutions.
FacePhi, iDenfy, Qoobiss win selfie onboarding clients
Spain’s FacePhi will provide digital onboarding and facial authentication technology to BAC Credomatic, a South American financial group with 4.2 million customers across El Salvador, Guatemala, Honduras, Costa Rica, Panama, and Nicaragua. It will enable customers to create bank accounts with a smartphone by first taking a photo of government-issued photo ID that is validated. Then the user takes a selfie that will be subject to facial recognition and authenticates them for the financial institution’s apps for banking and transactions.
“We are looking forward to address this project and contribute to the innovation efforts of an entity that has already achieved that over half of its banking operations are carried out through online and mobile banking,” explains Jorge Sanz, CRO of FacePhi.
Lithuania’s iDenfy is partnering with Alternative Payments, a fellow Lithuanian fintech firm, on a fraud prevention solution that leverages facial recognition.
The identity verification company says it can perform ID verification in less than a minute by scanning databases, identifying documents’ countries of origin, and reviewing IP addresses automatically. It also onboards and registers customers with its AI-powered facial recognition technology that boasts a 98.4 percent accuracy rate, according to iDenfy.
“iDenfy’s automatic document authentication that quickly recognizes documents by the type and country helped us achieve one of our goals – to have a faster and safer identity verification process. Their user-friendly interface provides our customers with an overall pleasant experience, and for that, we are grateful,” says Mindaugas Rizgelis, the CEO of Alternative Payments.
Romania’s Qoobiss will now verify the customer identification data for financial institution Credius through biometric liveness checks performed with a selfie.
Alexandru Rizea, chief technology officer of Qoobiss, says its technology also scans ID documents, extracts data, verifies the user’s identity, and validates the document. Andrei Buzgan, CEO of Credius, says Qoobiss’ identity verification solution has reduced the time to fill in an online application for a fully automated online loan to less than 30 seconds.
The selfie verification process is said to take less than three seconds, according to a press release from Qoobiss.
Blinking joins with IPification to add phone verification
“By introducing an additional layer of identification verification, Blinking will provide added value to its clients. IPification enables us to offer our clients the ability to be more confident in their end users due to mobile phone ownership and plans used. This is critical for lowering risk and building trust between businesses and their customers.” says Milos Milovanovic, co-founder and chief operating officer of Blinking.
PXL Vision introduces Ident SaaS onboarding
Switzerland’s PXL Vision, an identity verification technology provider, launches its software-as-a-service solution PXL Ident with AI-supported biometric identification to offer companies a way to verify identities online and cut down on fraud.
PXL Ident offers automated identity checks built on four modules for a digitized onboarding experience that consists of customer registration, biometric identity verification, additional checks, and electronic signature verification.
The solution can verify customer data and guide them to a contract within seconds, while eliminating manual ID checks, according to the announcement. The benefits are reducing fraud and minimizing effort for customers and the human and financial resources departments for a company, PXL Vision adds.
Michael Born, CEO of PXL Vision, says, “There is a good reason for the great hype around digital transformation. Simple but decisive interventions can lead to massive improvements in safety, operational efficiency as well as exceptional customer experiences.”
The company is compliant with ISO 27001 for Information Security Management System, a press release says.