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KYC providers introduce new identity verification capabilities

FaceOnLive joins the market, Inverid partners with Veriff
KYC providers introduce new identity verification capabilities

FaceOnLive is introducing its SDK to the market for face matching, liveness detection and document recognition to provide identity verification and remote KYC checks.

The Canada-based developer’s on-premise solutions deliver market-leading accuracy, according to a company announcement, allowing developers and businesses to build biometric authentication and identity verification processes into their software products. Additional capabilities offered by FaceOnLive include document liveness detection and touchless fingerprint capture through end-users’ smartphones, as explained in a promotional video.

The company also provides SDKs for on-device, offline biometric checks.

FaceOnLive joined the U.S. National Institute of Standards and Technology’s FRVT evaluation program last year, showing up on the 1:1 Verification leaderboard in an April 2022 update.

The software is offered with perpetual licensing, integration support, and free APIs.

Inverid integrates Veriff to expand addressable user base

Inverid unveiled an integration of biometric identity verification technology from Veriff to expand its user base to people without biometric identity documents at Money20/20 Europe.

Inverid ReadID provides scanning of NFC chips built into identity documents, and the addition of Veriff’s software allows it to read and confirm data from users without the latest IDs or smartphones.

“At Inverid we follow an NFC-first approach to identity verification. But not all countries and users have biometric identity documents or a smartphone,” according to Maarten Wegdam, Inverid’s CEO. “For these use cases, we needed an alternative verification solution to partner with. While the optical identity verification solution market is crowded, Veriff has proven to be one of the best in the industry and a high-quality and reliable partner to complement NFC. We’re looking forward to our continued collaboration on future identity verification projects.”

Money20/20 Europe is on from June 6 to 8 in Amsterdam.

KYC enhancements unveiled by Trulioo, IDnow, irisnet

Trulioo has announced the addition of new geographies and localization features to its identity verification workflows for KYB and KYC checks.

The new capabilities will help automate more business verification processes and reduce expensive manual reviews, the company says.

“With Trulioo, we can do both KYB and identity document-based KYC checks with one solution, turning a previously cumbersome onboarding process into one that is quick and easy,” says Philippe Panneton, Nuvei’s senior vice president for Global Risk & Underwriting. “This has enabled us to remain compliant across multiple continents and provide payments solutions that accelerate our customers’ businesses.”

The company plans to detail the new features at Money20/20 on June 8.

IDnow has added automated document liveness and frictionless data checks to its portfolio for the UK market to aid crypto, fintech and financial customers.

The company says its platform expansion also includes a tool for centralized no-code workflow management, and Financial Risk Checks based on third-party and self-declared data.

With the new capabilities, IDnow says its platform performs KYC checks for use cases regulated by the UK’s Financial Conduct Authority (FCA) or the UK Gaming Commission (UKGC) within a few seconds, but also increase security for transactions subject to lower regulatory hurdles.

Irisnet GMBH, a subsidiary of net digital AG, has introduced a continuous, real-time identity comparison feature to ensure users still match the latest authentication event at Money20/20.

The new ‘Live Identity Check’ feature can support secure KYC in different scenarios, such as during livestreams, according to the announcement.

Irisnet plans to bring the ‘ID Check’ feature to market in the third quarter of 2023.

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