Strong demand for selfie biometrics in financial services prompts Acuant partnership
Demand for selfie biometrics and related onboarding technologies continues to be strong in financial services, with Acuant inking a deal to provide its technology for identity verification for businesses, and ComplyCube, Yoti and CyberLink expanding their KYB and KYC customer bases.
Acuant has integrated its biometrics and other technologies for seamless digital identity verification with ServiceNow Financial Services Operations to offer a single solution for KYC, KYB and anti-money laundering compliance for financial services providers.
The new solution from ServiceNow provides an automated, risk-based approach to know your customer and know your business checks, applying friction only to suspicious identities, according to the announcement. Acuant checks global data sources for business verification, and performs customer due diligence checks for Ultimate Beneficial Owners.
The partners say their combined solution also features real-time risk detection and inclusive global coverage.
“Navigating the complexities of regulatory compliance while delivering an experience that meets customers’ expectations and rivals the competition is no easy task,” says Christina Luttrell, CEO, GBG Americas (Acuant and IDology). “Through this integration, we’re helping financial institutions deliver the best digital experience possible, from start to finish, and succeed in an environment of increasing fraud, regulation and competition.”
The GBG Americas group was created by GBG earlier this year, following the close of its Acuant acquisition.
ComplyCube has partnered with startup rating agency Capital Pilot to provide KYC checks and digital identity verification in support of a new £5 million (roughly US$6 million) startup investment fund.
The Boost Fund has already unveiled its first five investments, and the partnership with ComplyCube will support the fund as it ramps up towards a goal of 100 investments in less than 6 months.
“ComplyCube inherently accelerates time-to-market, a trait loved by our customers. That’s why we’ve enhanced our Startup Programme to help more businesses access our market-leading identity verification services” states Mohamed Alsalehi, CTO at ComplyCube.
Yoti has been selected by investment platform Further to streamline customer onboarding while maintaining compliance with Financial Conduct Authority rules.
Yoti provides digital identity verification through its partnership with the Post Office to strengthen Further’s KYC and AML processes, according to the announcement.
“To deliver a high quality, premium, trustworthy experience for today’s investors, it was important that we found a tool with a user experience that matched our own and was straightforward to use across devices – and Yoti have delivered on this,” comments Further CEO Rob Timoney.
CyberLink is providing its FaceMe facial recognition and biometric liveness detection to Good Finance’s KYC account opening process.
The integration is expected to eliminate errors from manual identity verification, while allowing new customer to sign up online.
Users can be onboarded through the Good Finance mobile app with a photo of their ID and a selfie taken on their mobile device.
Acuant | AML | biometrics | ComplyCube | CyberLink | digital identity | financial services | fraud prevention | identity verification | KYB | KYC | onboarding | selfie biometrics | Yoti