New solution and partnerships unveiled amid flurry of selfie biometrics and KYC activity
Romania-based Qoobiss has launched an anti-money laundering solution for businesses in the financial sector based on the company’s selfie biometric, identity verification and transaction monitoring. Also in remote KYC and biometric onboarding, Sumsub has launched a partner program, Scantek has partnered with a regtech provider, and customer wins have been announced by OCR Labs, Shufti Pro, Mobbeel, Onfido and IDnow, while Ondato has begun accepting payments from its customers in crypto.
The new Qoobiss AML determines the regulatory compliance risk of individuals and corporate entities, according to a company announcement. The solution can be used to check databases for international sanctions, politically exposed persons, restrictions imposed by local or international authorities, exposure to reputational risk, user profiles that indicate risk, state-owned companies and individuals wanted by law enforcement.
Fintech Ecofinance Romania is among the early customers for the new solution.
“The process of verifying the identity of users is an expensive one for any type of business because the implementation and running of compliance procedures require important resources to be allocated, both human and technological,” comments Qoobiss Project Manager Cătălin Micu. “The QOOBISS AML solution is fully automated and helps fintech or financial companies to easily identify their customers and assess their risk profile right from the onboarding process, with minimal costs from the company. We are certain that Ecofinance Romania will increase the efficiency of its business due to the implementation of the Qoobiss solution dedicated to establishing the compliance risk.”
Sumsub launches partnership program, Scantek teams up
Sumsub has launched a new partnership program with three options for engaging with its all-in-one digital identity verification platform.
The program consists of Referral, Ecosystem, and Technology partnerships. The Referral partnership is designed for consulting firms and independent advisors to promote Sumsub products. Ecosystem and Technology partnerships are intended for SaaS and PaaS businesses and cloud, crypto and blockchain infrastructure providers, according to the announcement. The latter options can be selected with pay-as-you-go models.
“Our new partnership options offer our partners flexible opportunities to upgrade their product and attract more customers with Sumsub’s all-in-one KYC/AML solution and its many useful features,” comments Sumsub Head of Partnerships Denis Urazbakhtin.
Scantek’s Biometric Identity Validation solution has been selected for integration by Australian regtech provider CV Check.
Under the partnership, CV Check plans to launch new biometric solutions to enhance the KYC capabilities of its CV1 product suite during the second quarter of 2023. Scantek’s technology includes selfie face biometrics and liveness detection, document validation and geolocation checks.
Scantek says it will help CV Check customers upgrade their remote customer onboarding with reliable, real-time results.
UK-based employment background check provider Reed Screening has selected OCR Labs to reduce its remote onboarding process time to minutes with digital identity verification.
OCR Labs is providing fraud detection and biometric matching for digital right-to-work ID checks, which were introduced to the UK during covid lockdowns and have since become a permanent option.
Reed Screening’s own data suggests that three quarters of organizations now believe that using technology for digital ID verification makes the process safer due to the ability to detect fake identity documents and identify people unauthorized to work.
“The strength of OCR Labs Global’s technology stood out amongst a crowded field within the ID verification space,” says Reed Screening Director Keith Rosser. “Their modern advanced ID verification allows liveness checks and facial matching technologies to detect issues the human eye is not good at picking up. We believe it will have a long-term impact on employers that want to increase the efficiency of their onboarding process, stay compliant with right-to-work legislation and provide a smoother experience for employees.”
Shufti Pro has been chosen by global charitable foundation Team4UA to authenticate the identity of volunteers in the Ukraine with end-to-end identity verification including selfie biometrics.
Team4UA determined that ID and background checks for volunteers are critical to the safety of people made vulnerable by the war in Ukraine. Team4UA has provided assistance to 400,000 Ukrainian citizens since the start of the war, according to the announcement.
Guatemala’s Banco de Antigua has launched a digital savings account as part of its financial inclusion commitment, with digital onboarding through the ID document scanning and selfie biometrics of Mobbeel’s MobbScan.
Cross-border digital trade finance platform Drip Capital has selected Onfido’s Real Identity Platform to streamline remote onboarding for new customers through selfie biometrics.
The platform provides a user-friendly KYC process and AML checks, with efficient document verification and real-time validation at scale.
IDnow is providing digital identity verification with selfie biometrics to secure and simplify validated e-signatures on Adobe Document Cloud.
Adobe Acrobat Sign Digital Identity Gateway will use IDnow’s technology for qualified electronic signatures (QES), which require identity verification, as well as advanced electronic signatures (AES), which can also benefit from authentication of the signing party.
Elsewhere in the space, Ondato has begun accepting cryptocurrencies as payment for its selfie biometrics and other KYC and AML services. The new payment option is provided through a partnership with CoinGate.
AML | biometrics | identity verification | IDnow | KYC | Mobbeel | OCR Labs | onboarding | Ondato | Onfido | Qoobiss | Scantek | selfie biometrics | Shufti Pro | Sumsub