IDology adds, Trulioo updates biometric authentication for KYB
IDology and Trulioo each took separate steps to advance in the know your business (KYB) field with biometric authentication. IDology integrated KYB functionality into its ExpectID platform, while Trulioo upgraded its KYB capabilities in its flagship GlobalGateway product.
IDology supplements ID platform with biometric KYB
IDology, a company under GBG Americas, announced the addition of KYB that authenticates with biometrics into its ExpectID platform.
The company says the ExpectID Business KYB performs automated risk assessment of businesses and authorized users, fraud detection with machine learning, and watchlist screening.
It biometrically verifies the identities of individuals with ExpectID Scan Verify, an automated driver’s license, ID card, and passport verification solution that employs facial comparison between the user’s selfie and document photo.
“A better KYB solution is needed to stay compliant, prevent fraud and reduce costs while safely onboarding corporate customers,” says Heidi Hunter, chief product officer at GBG Americas. “With ExpectID Business, we’re giving our customers the data insight and guidance they need to quickly and confidently onboard legitimate customers and equally important, identify higher-risk customers to avoid the costs associated with more complex background checks.”
GBG Americas was formed in April to better meet demand for biometric solutions through a merger of IDology and Acuant.
Trulioo upgrades KYB verification in flagship platform
Trulioo has released a series of updates to its flagship digital identity, KYB and anti-money laundering biometrics platform GlobalGateway, aimed at enhancing compliance and verification.
The company added the GlobalGateway Watchlist, a watchlist service that screens customers’ electronic identity verification process against over 6,000 global watchlists and 20,000 Adverse Media lists.
There is also the addition of UtilityID, a consent-based identity verification service that takes utility provider data from bill documents to verify an address, rather than requiring manual uploads of IDs, and updates to its KYB solution Business Verification.
“As a global service provider, Trulioo must continuously innovate to meet an increasingly varied and diverse range of regulatory compliance requirements that our customers face every day,” says Michael Ramsbacker, chief product officer of Trulioo. “We are dedicated to bringing forward solutions that address the changing needs of our customers and the market as a whole – both at the point of onboarding and beyond – and I am pleased to share that this GlobalGateway update does just that.”