Veriff biometric KYC widens Alloy’s AML platform capabilities
Veriff will offer its biometric identity verification on the platform of know-your-customer (KYC) and anti-money laundering (AML) provider Alloy, enhancing its anti-fraud capabilities for banks and fintechs.
The partnership will have Alloy’s customer onboarding and transaction monitoring platform integrate Veriff’s identity verification system to help banks and fintech companies quickly combat fraud with identity verification capabilities, onboard customers, monitor transactions and credit decisions, and offer KYC solutions for clients in over 190 countries, according to a press release.
Veriff provides identity verification with video-based face biometrics that matches a selfie to the photograph on government ID, among other methods like behavioral analytics and location verification.
“The fraud landscape is constantly shifting, and financial institutions need to be able to adjust quickly to continue mitigating fraud,” says Brian Bender, vice president of strategic alliances at Alloy. “Our partnership with Veriff enables us to connect our clients with more identity verification and KYC offerings that meet each of their compliance needs and empower them to remain agile in the evolving market.
Veriff’s latest partnership with Alloy adds to a list of collaborations the firm has made by contributing its biometric identity verification for KYC needs. The company joined the Visa Fintech Partner Connect in September 2021, and signed up Deel as a customer in November 2021.