One-click KYC, digital ID solutions introduced by Yoti, Sumsub
Yoti is introducing a new one-click digital identity verification solution in collaboration with financial KYC (know-your-customer) provider Department of Trust, as Sumsub unveils a one-click-KYC tool for users in India, Brazil, Nigeria and Indonesia. Also, Rent Panda has integrated VeriFast to launch a new tenant screening product for the home rental market, Air Bank partners with Innovatrics to remotely verify the identity of its banking customers, and Ondato joins forces with Radix Compliance, a company focusing on providing AML (anti-money-laundering) and KYC outsourcing services.
Yoti to improve compliance for gambling operators
The partnership will enable UK-based Department of Trust consumers to link a new or existing Yoti verification to a personal financial profile in the Department of Trust’s BetBudget app at any time.
After completing the one-time biometric process, future registrations at participating gambling sites can be performed in one click.
According to Yoti CEO Robin Tombs, the move will enable operators who use the combined service to access frictionless registration with reduced risk of fraud alongside instant access to ongoing real-time financial KYC data for affordability, responsible gambling and AML checks.
“We’re excited to partner with the Department of Trust and combine our solutions to introduce a new standard of compliance and identity verification for the gambling sector,” Tombs says.
“DoTrust shares our philosophy to empower individuals with a safer way to share their personal information; one that protects their privacy and personal data, whilst ensuring companies have the details they need to be compliant.”
Also this week, Yoti announced a new partnership with Talent Clouds, a digital workforce management and employee vetting platform.
Sumsub launches one-click KYC solution
According to Sumsub CEO Andrew Sever, by launching its new software tool, the firm has become the first KYC provider enabling companies to verify more than two billion people from Brazil, Nigeria, India and Indonesia without scanning their documents.
According to the executive, the software tool is designed mainly for fintech, crypto, trading, marketplace and transportation businesses.
After users provide their ID number and passing a liveness check, the solution automatically pulls required data from government databases and cross-checks it with the provided ID number and the user’s face biometrics.
“This way, Sumsub is realizing its mission of becoming a multilocal KYC provider — helping businesses onboard local users the way they’re used to, while empowering companies to enter new markets at the same time,” Sever adds.
“Soon, more databases and countries will be included into Sumsub’s one-click solution, improving access to products and services for more people around the world.”
The company has also recently launched a tool to help betting platforms estimate potential fraud losses during the 2022 World Cup.
VeriFast and Rent Panda launch tenant screening product
The Rent Panda Smart Screening product is designed to make it faster, safer and more efficient for small landlords to find the best tenants to rent their properties in Canada. It utilizes VeriFast’s credit and digital ID checks.
“Supply and demand issues are putting tremendous pressure on both landlords and tenants,” says Hart Togman, co-founder and CEO of Rent Panda. “Our platform is designed to make it less stressful for small landlords to find the perfect tenant by adopting new, smart rental assessment tools.”
The software tool, designed in collaboration with VeriFast, provides instant credit and background reports, income and expenses reports and ID verification with face biometrics.
“Rent Panda is bringing a much-needed focus to serving small landlords and property management companies,” comments Tim Ray, co-founder and CEO of VeriFast. “We’re excited to work together to empower their clients to complete identity and financial verifications in less than three minutes leveraging VeriFast’s ‘Verification-as-a-Service’ API.”
Innovatrics and Air Bank join forces on remote customer verification
Air Bank announced it has integrated the Digital Onboarding Toolkit (DOT) from Innovatrics to provide its users with an improved digital identity verification experience.
DOT offers features including NIST FRVT top-ranked face biometrics, identity document data extraction and authenticity check, and iBeta Level 2 tested liveness detection.
“By working with Innovatrics, we are bringing a new method of verifying a client’s identity to the mobile app environment using the elements that are currently available to the client,” comments Filip Zavřel, head of everyday services at Air Bank.
DOT offers a modular architecture, which enabled Air Bank to integrate mobile and web software development kits (SDKs) and server-side APIs into its mobile banking application.
“All they need is a phone number and their own face, which is accurately verified by facial biometrics,” Zavřel adds.
“Clients will encounter the novelty when pairing their bank account with the My Air mobile app, which typically occurs when they purchase a new phone or replace it,”
The Air Bank partnership comes days after Innovatrics added web access to its ABIS software to enhance video processing speed for criminal probes.
Radix Malta deploys Ondato KYC, AML tools
Automated solutions from Ondato arel now available to Radix customers to help businesses subject to specific AML regulatory requirements mitigate risk.
Radix Compliance introduces Ondato’s automated, biometric-powered onboarding capabilities to its clients.
“We are excited to partner with Radix Malta and introduce our automated onboarding tool to their network of customers,” says Ondato CEO Liudas Kanapienis. “We are confident that this partnership will prove to be very beneficial for all.”
Radix Malta’s deployment of Ondato’s solutions follows a similar one by cross-border digital trade finance platform Drip Capital last month.