FB pixel

Socure, Sumsub, VeriFast sign up ID verification clients in regulated industries

Socure, Sumsub, VeriFast sign up ID verification clients in regulated industries
 

Digital identity verification platforms are making new deals across closely regulated industries such as sports betting and online lending.

Socure has a new client. The company will provide its identity technology to fantasy sports gambling platform PrizePicks.

Socure says that the partnership has helped PrizePicks experience double-digit growth in new member approvals. Its solution verifies new player identities in real-time with selfie biometrics, including know your customer (KYC) verification and identity fraud identification.

PrizePicks is available in 31 U.S. states, Washington DC, and most of Canada.

“Socure’s integrated capabilities for KYC, fraud and document verification are impressive and have helped us implement a powerful verification workflow in a single solution,” says PrizePicks Co-founder and CTO Jay Deuskar.

Socure has been making other deals this year, including with California-based digital lending company MeridianLink. This month, it started pitching biometric ID verification to prevent minors from accessing alcohol through delivery apps. At the end of June 2023, the company acquired Berbix which develops technology that identifies compromised and fake IDs.

Sumsub partners with AML Incubator

Sumsub has reached a partnership deal with AML Incubator, a Canadian anti-money laundering (AML) and regulatory compliance outsourcing company.

Sumsub will help AML Incubator streamline the onboarding of the regtech’s fintech clients, verifying users and legal entities. The onboarding integration includes face biometrics and document verification for know your business (KYB), KYC and AML checks, transaction monitoring and more. AML Incubator provides services to clients across the U.S., EU and Canada.

UK-based Sumsub has over 2,000 clients and has announced establishing its APAC headquarters in Singapore in July. It also signed up Prague-headquartered car sharing platform HoppyGo for identity verification of drivers.

VeriFast will help lenders identify clients

Verification and authentication provider VeriFast has struck a partnership with Inovatec Systems, a company that makes cloud-based software solutions for lenders.

Canadian Inovatec automates lending processes for customers across North America. With VeriFast’s selfie biometrics and aggregation of applicant data from disparate sources, its clients will be able to digitally verify the identity and income of applicants, while adhering to all data privacy, the company says in a release.

“VeriFast has earned an outstanding reputation for providing fast, compliant, and cost-effective verification services that enable financial institutions to accurately authenticate applicants,” notes Sam Heath, Inovatec’s chief revenue officer.

Toronto-based VeriFast serves clients throughout the U.S. and Canada. Last year, it secured $3.5 million in seed funding.

Article Topics

 |   |   |   |   |   |   | 

Latest Biometrics News

 

Facewatch, Met police face lawsuits after facial recognition misidentification

Biometric security company Facewatch, which provides facial recognition software to shops across the UK, is facing a lawsuit after its…

 

Call for bids on Dominican Republic biometric passport deal closes today

The Dominican Republic’s General Directorate of Passports (DGP) is seeking digital identity service providers to acquire, install and maintain new…

 

Who is looking out for your data? Security in an era of wide-spread breaches

By Vince Graziani, CEO, Idex Biometrics While some of the biggest businesses in the world now rely heavily on data, concern…

 

ITL’s Alerts App expands biometric portfolio to integrated venue management

Businesses from every sector all face access control challenges to ensure the security and safety of their staff and customers….

 

Best biometrics use cases become clearer as ecosystems mature

Biometrics are for digital identity, socio-economic development, air travel and remote identity verification, but not public surveillance, the most-read news…

 

UK Biometrics and Surveillance Camera Commissioner role survives as DPDI fails

UK parliament will not pass data protection legislation during the current session, following the announcement of the general election in…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events