Biometric bank service access grows with Indonesian deal, Seamfix platform expansion
New ways to access banking services through biometrics are becoming available to many millions of people, as Bukalapak has joined forces with Standard Chartered Bank, and Verified Africa has launched in Ghana, South Africa, and Kenya.
Also, a number of financial institutions have entered new partnerships with biometrics and digital ID service providers. Identity verification startup Qoobiss signed a new partnership with RoCapital, financial compliance firm Kompliant selected authID’s biometrics for its merchant onboarding process, and GreenGrowth has partnered with digital identity provider Yoti. Veriff and Certific joined forces to enhance identity verification services for remote medical testing, and Shopopop with Onfido to power remote identity verification for home delivery services.
Meanwhile, ComplyCube has announced that its document verification service has been enhanced to improve accuracy and success rates for Arabic IDs.
BukaTabungan partners with Standard Chartered
Indonesia’s first public-listed technology company Bukalapak has launched a new digital banking service in collaboration with Standard Chartered Bank, reports scventures.
Called BukaTabungan, the service brings together Bukalapak’s all-commerce platform and the Nexus technology, a Banking-as-a-Service (BaaS) solution powered by Standard Chartered.
BukaTabungan will offer Bukalapak’s ecosystem of over 110 million users and 20 million business owners remote banking services, including onboarding, secured by facial recognition.
“Business owners now also have access to financial services to support their business from a reputable financial institution,” comments the president of commerce and fintech for Bukalapak, Victor Lesmana.
“We are very excited because this is in line with our mission to support the growth of MSMEs in Indonesia and continue to expand financial inclusion across the country. Our greatest appreciation to Standard Chartered for the trust and shared passion in this collaboration.”
Verified Africa launches in Ghana, South Africa, Kenya
Verified Africa, a digital identity platform from Seamfix, has officially launched in Ghana, South Africa, and Kenya.
The company made the announcement this week when it also revealed a milestone of over 300 thousand verifications recorded in Nigeria, where it launched in 2022.
“As champions of growth and inclusivity, we’re excited at the opportunity for every single business currently using our services to also target new customers in these regions,” Verified Africa wrote in a blog post.
From a technical standpoint, Verified Africa’s digital ID infrastructure connects multiple databases of identity records across the continent to enable companies and governments. These records are combined with selfie biometrics to confirm individuals’ identities.
The company said it intends to expand its presence to other African countries over the next 18 months, becoming the continent’s most widely used verification platform.
“Ghana, South Africa and Kenya represent key markets for Verified’s roadmap into continental dominance and with this launch, we’re thrilled to open our doors to businesses and individuals in three more countries – bringing the best of digital verification to your shores.”
ComplyCube improves support for Arabic IDs
Software as a service (SaaS) firm ComplyCube has improved its document verification service to enhance accuracy and success rates for Arabic identification documents by up to 98.7 percent.
The service, available via application programming interfaces (APIs), software development kits (SDKs), and no-code solutions, already works with IDs from several Arab countries, including Saudi Arabia, Egypt, Qatar, UAE, Jordan, and Bahrain.
The solution can verify a variety of documents, including passports, identity cards, residence permits, and driving licenses. It uses artificial intelligence (AI), advanced analytics, and expert human reviewers to extract data attributes.
It then performs six categories of analysis on ID documents, which include detailed checks on visual security elements, daylight/ultraviolet chromatic profile, and font consistency to determine the authenticity of the analyzed documents.
The updated ComplyCube platform comes weeks after the company expanded its Startup Program to supply qualifying startups with credit allowances worth up to $50,000.
New customer wins for Qoobiss, authID, Yoti, Veriff, Onfido
Romanian digital ID verification startup Qoobiss has signed a new partnership with RoCapital, a Nonbank Financial Institution part of the KRUK Group.
The collaboration will integrate the ability of RoCapital to provide interrogation and reporting services to NAFA (National Agency for Fiscal Administration) with the biometric, anti-money laundering (AML) monitoring services offered by Qoobiss.
The move comes months after Qoobiss partnered with fellow Romanian firm Get’s Bet, an online betting platform, to verify customer identity. More recently, the company started verifying customer identification data for financial institution Credius.
Risk-scoring company Kompliant said it will integrate authID’s biometric authentication platform Verified to tackle identity fraud and automate digital onboarding for its customers. The integration will reportedly enable Kompliant to deliver biometric identity verification during digital onboarding.
The partnership with Kompliant comes at a time of financial stability for authID, which recently announced results in line with expectations, with total first-half revenue of $0.2 million, and a net loss widening to $11.5 million.
Continuing the streak of customer wins, Yoti partnered with sustainable investment app GreenGrowth. The collaboration will enable the company to eliminate physical ID document verification and rely instead on Yoti’s digital ID verification technology to check individuals’ eligibility to invest capital.
Yoti has also recently expanded its age assurance deployment on the social media app Yubo to all users (not youth-only).
Veriff and Certific joined forces to enhance ID verification services for remote medical testing. The move will provide Certific customers with a more straightforward identity verification process, which will help the company tackle fraud risks and build further trust.
Veriff’s partnership with Certific follows the launch of its new partner program designed to give firms in sectors with different digital identity needs a practical path to growth and increased revenues.
Finally, Onfido announced a strategic partnership with European home delivery services, Shopopop. The move will enable couriers to use selfie biometrics and a picture of their ID to complete onboarding on the Shopopop platform.
Onfido’s biometric identification technology was also deployed by Pets4Homes to increase trust and provide more transparency in buying a pet.