iProov, CyberLink, Shufti Pro each chosen for biometric verification of remote transactions
Biometric solution providers have unveiled a series of new customer sign-ups, all focused on user verification for either cryptocurrency, gaming or finance applications that involve monetary transactions.
iProov biometrics selected by Paxful for user onboarding
iProov announced that Paxful, a peer-to-peer fintech platform, will employ its biometric liveness technology to verify user identity during the onboarding process and when making transactions.
Following the beginning of the partnership, Paxful will be able to verify their identity by registering using an ID document and a selfie. From that point onward, they will be able to access Paxful’s services via face recognition on their mobile devices.
“With the tremendous influx of new users into the crypto space comes an even greater invasion of fraudsters looking to empty or take over accounts or even hold them for ransom,” says iProov CEO Andrew Bud.
“Paxful’s mission is a critical one that helps connect the underbanked and unbanked around the globe to financial opportunities and stability. We are delighted to support them in offering inclusive and secure remote verification measures to protect their users.”
The collaboration comes weeks after Ignition-Innovation selected iProof’s face biometric authentication and liveness detection services to verify users of its TruMeID product in Trinidad & Tobago.
CyberLink selected by Good Finance for mobile KYC
Good Finance has integrated CyberLink’s FaceMe artificial intelligence (AI) facial recognition engine into its application to provide remote financial services to its customers.
According to the company, the move will not only eliminate the hassle of having to visit a bank branch for identity verification, but also reduce the possibility of human error, making the whole process more secure.
From a technical standpoint, FaceMe uses AI technology to verify that the ID photo submitted by a user and the person in front of the camera are the same person.
It also features anti-spoofing technology that can detect whether the person in front of the camera is real or not, thereby preventing presentation attacks.
“AI face recognition is the ideal non-face-to-face solution for [electronic Know Your Customer (eKYC)], which is one of the common topics in the banking, insurance, and security industries,” comments CyberLink CEO Jau Huang (sometimes Zhau Huang).
“By doing so, we can increase security and provide more convenient financial services.”
CyberLink recently released its face biometrics APIs for the ‘FaceMe Platform,’ to enable integration into a variety of systems.
CSGOEmpire deploys Shufti Pro to streamline ID verification
CSGOEmpire, a Counter-Strike: Global Offensive (CSGO) computer game character skin gambling operator, has deployed Shufti Pro’s biometric verification technology to onboard new players onto its platform.
More specifically, CSGOEmpire will now have access to Shufti Pro’s KYC and anti-money laundering (AML) identity verification (IDV) solutions.
“KYC and AML regulations are complex and continuously evolving, and businesses across verticals realize they need fast, accurate and compliant IDV solutions that deliver a seamless customer experience and offer the flexibility and scalability to expand with their business,” comments Shufti Pro CEO Victor Fredung.
The deployment reportedly took less than a month and allowed CSGOEmpire to migrate its KYC system with no impact on the user experience, while also significantly reducing manual intervention in the KYC process.
“As CSGOEmpire continues its rapid growth, Shufti Pro’s AI-powered IDV solutions will enable it to verify and onboard new customers in mere seconds and ensure regulatory compliance,” Fredung concludes.
The partnership is perhaps indicative of a renewed interest of Shufti Pro in the gambling market and follows an award of two gambling-industry licenses in the United States last month.