Veridas can now verify all US biometric ID documents, helps identify Spanish minors
ID solution provider Veridas has announced two different milestones concerning the adoption of its document verification and biometrics solutions.
Writing in its blog, the company says it can verify every ID document type in the United States, including state IDs, driver’s licenses and military IDs, among others.
In the same post, Veridas says that its ID and biometrics algorithms can “guarantee” a conversion rate above 80 percent for digital onboarding processes.
“Veridas also has a face biometrics engine top-ranked by the National Institute of Standards and Technology, NIST, and we have passed the iBeta PAD level 2 evaluation of ISO/IEC for our liveness detection technology,” the company writes.
In a separate blog post, Veridas says that Spanish neobank BBVA was the first financial institution in the country to register children between 14 and 17 years old using its dedicated mobile app.
“This registration is possible thanks to Veridas’ identity document verification technology, which has been providing its technology to the bank since 2017 with more than 30 projects in eight different countries,” reads the post.
According to Veridas, the system creates a fraud prevention barrier at onboarding.
“Both document verification technology and facial biometrics have anti-spoofing or anti-fraud measures that are capable of detecting fraud attempts such as false documents, alterations in the information, masks, or even deepfakes,” the company says.
Registration of minors is associated with the account of a parent or legal representative who will be able to regulate the different operations that minors can perform in the application.
Bank customers in Spain must complete registration based on Executive Service for the Prevention of Money Laundering (Sepblac) regulations. These include video evidence reviewed by an agent. Veridas says that the onboarding solution is compliant with Sepblac.
The company expanded a biometric customer onboarding relationship with BBVA that dates back to 2017 with a deployment in Switzerland in September.