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IDVerse signs up regtech, banking platforms for biometric ID verification

IDVerse signs up regtech, banking platforms for biometric ID verification
 

ID document verification software from IDVerse, including document scanning, fraud assessment and biometrics, have been integrated with onboarding software from Australian regtech Lab Group.

Lab Group serves an international client base, and the integration builds ID document verification directly into digital user onboarding workflows, according to the announcement.

IDVerse’s “Zero Bias AI” platform verifies new users in seconds with a fully-automated check of their ID document, smartphone and face biometrics. The software works with any ID document from 220 countries and territories, the company says. IDVerse also says it works for more of the world’s people than competitors, successfully matching people across the full range of skin tones.

“As IDVerse can provide reliable authentication across every layer of identity, documentation, and point of access, it is mutually beneficial for us to combine our platforms into each other’s workflows,” says IDVerse GM of APAC Paul Warren-Tape.

“As global awareness of algorithmic bias continues to rise, we are proud to inspire LAB Group’s trust as we strive to remain at the forefront of a more inclusive and seamless digital landscape.”

The integrated solution is already in live operation for age verification by a large national retailer selling liquor online for same-day delivery. Beyond age verification, Lab Group sees broader applications of the technology, such as for industries affected by the second set of anti-money laundering (AML) reforms expected to soon enter force in Australia.

“We are delighted to partner with IDVerse to bring best-in-class ID document verification solutions to our customers,” Nick Boudrie, CEO and co-founder of Lab Group. “As Lab Group has previously led strategic integrations with IDVerse to deliver fully-automated identity and data verification, we are confident that implementing a comprehensive integration will add ongoing value to a broader set of Lab Group customers as our verification capabilities continue to evolve.”

IDVerse integrated by FutureBank

Similarly, finance platform FutureBank has selected IDVerse to provide digital identity verification services for its banking customers.

New FutureBank customers can implement IDVerse’s ID verification and selfie biometrics with presentation attack detection, while IDVerse customers in need of a middleware platform can link to FutureBank through their API credentials.

IDverse claims to be the most certified among digital identity service providers, with 20 certifications for Right to Work, Right to Rent and DBS from the UK DIATF.

“Generative AI is breeding many different fraud types,” says Sergio Barbosa, CEO at FutureBank. “With ChatGPT, fraudsters can create very authentic documents and profiles for people at a low cost. We were impressed by IDVerse’s capability to stop fake IDs from making their way through the system and its fully automated approach that works better than humans.”

“We estimate that there is a 400 percent year-on-year increase in the use of deepfakes in creating fake identities,” says IDVerse EMEA GM Russ Cohn, highlighting the company’s liveness detection capabilities. “Our fully automated identity verification system can offer FutureBank customers a reliable solution to spot deepfake accounts that fraudsters are increasingly trying to create. IDVerse’s cutting-edge technology maps the facial genome and can detect below-the-skin activities, such as a heartbeat changing the colour of the skin, which the human eye cannot see. These natural yet invisible patterns from faces help verify that an image is of a real human, not a deepfake.”

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