Face biometrics solutions launched by CycurID for onboarding, Veriff for authentication
A number of companies offering selfie biometrics have made new announcements this week, with CycurID launching a new platform, Veriff releasing a novel biometric authentication solution, Shufti Pro entering a new partnership with NamaChain and a new customer for iDenfy.
CycurID launches digital ID management platform
Cybersecurity firm CycurID has unveiled the launch of its face biometrics-based Personal Digital Identity Management and Privacy Platform.
The solution aims to simplify the authentication process so that individuals can reduce the amount of personal information they share when verifying their identity online, particularly from third parties.
Upon installing the CycurID app, users are prompted to share an email, and phone number and undergo a biometric liveness check with a selfie. If checks are passed successfully, a digital ID is created and can be used to access online services.
“When we founded CycurID, we did so with a few goals in mind. One was to make consumers aware of the lack of control they have over their identity, and how third parties use/abuse it,” explains CycurID Co-founder and COO Gord Jessop.
“Secondly, we want to redefine how digital identity can be used to create a digital marketplace that is safer, faster, and more accessible for both businesses and consumers. We believe that we have been able to achieve this.”
Veriff releases new biometric authentication solution
Identity verification solutions provider Veriff has released a new, fully-automated biometric authentication solution.
The company said the rationale behind the new tool is to make multi- and two-factor authentication (2FA) more identity-focused, as opposed to device-focused.
“As a pioneer in identity verification, Veriff understands that the future of internet safety is driven by biometric authentication due to its convenience and security,” says the company’s Co-founder and CPO Janer Gorohhov.
“Veriff’s solution is quick and effective to confirm that a returning user is who they claim to be. It also helps to protect against account takeovers, reset credentials, and avoid inconvenient re-authentication processes in just one second.”
The announcement comes weeks after Veriff appointed Caroline Mogford as its new chief marketing officer.
Shufti Pro and NamaChain partner on digital ID verification
Shufti Pro and self-sovereign identity solutions provider NamaChain have entered a new strategic partnership. The collaboration will focus on the creation of a non-custodial identity gateway that provides users the sole authority over their data.
According to the firms, no third party or service provider, including Shufti Pro and NamaChain, will be able to access or share the users’ data without their explicit consent.
From a practical standpoint, NamaChain’s know your customer (KYC) and anti-money laundering (AML) solution will run identity verifications through face biometrics using Shufti Pro’s global ID database.
Vendors will then utilize the output to provide their users with a verified digital identity that they can re-use without having to go through the KYC processes again.
“We are excited to associate with NamaChain, as it is set to reform the landscape of self-sovereign identity by launching the first-ever non-custodial identity gateway, powered by blockchain,” says Shufti Pro CEO Victor Fredung.
“We look forward to leveraging this partnership to benefit users with rapid, automated, and secure digital identity verifications.”
Shufti Pro has also recently partnered with mobile banking expert Banxy.
iDenfy signs up startup funding platform for biometric onboarding
Startup investment platform Backed has selected iDenfy to secure its customer onboarding process with selfie biometrics for remote identity verification.
Backed investments are made through the company’s cryptocurrency, CompanyCoin, and iDenfy notes in a company announcement that many crypto providers have attempted to avoid regulation, resulting in $10 billion worth of crypto funds being stored in illegal addresses, according to Chainalysis. In a move to avoid contributing to this situation, Backed selected iDenfy to perform KYC checks.
iDenfy’s four-step identity verification can onboard new Backed users within a few minutes, according to the announcement.
“Our top priority is allowing our users to use the platform and purchase our tokens with as little friction as possible,” says the founder of Backed, Lee Betts. “The verification process with iDenfy is smooth and secure. It already helped us reduce friction and resulted in more paying customers.”