Oliu and IDnow announce integrations with fintechs for ID verification

Oliu will be able to use financial data from Canadian fintech Flinks to verify identity on its platform, while IDnow will provide verification for the fintech startup Zorrz to secure its BlueAccess Card for financial inclusion.

Oliu uses Flinks financial data for identity verification

ATB Ventures announced its ID verification product Oliu will now utilize data from Flinks, through an integration with the Canadian financial data connectivity provider. Clients will be able to use bank connectivity for digital ID verification.

Oliu utilizes Flinks’ direct API bank connections network to use customer bank accounts to verify identity in compliance with Canada’s FINTRAC identity verification guidelines.

Customers who want to verify identity through Flinks when opening an account will be prompted to sign into their Canadian bank account, which transfers their information from the account to the new service provider.

Organizations can pre-populate registration forms and simplify KYC processes, minimizing manual steps during onboarding.

“The incorporation of Flinks-powered bank account verification into Oliu elevates our platform to become one of Canada’s most comprehensive and resilient digital ID verification solutions,” says ATB Ventures Head of Growth and Partnerships Azim Esmail in the announcement.

“This collaboration embodies Flinks’ commitment to enabling businesses to leverage financial data to deliver exceptional digital experiences,” says Frederick Lavoie, Flinks COO and co-founder.

IDnow to verify identity for BlueAccess Card to promote financial inclusion

London-based fintech startup Zorrz is partnering with European identity verification platform provider IDnow to help sign up users for its BlueAccess Card.

The BlueAccess Card is a hybrid credit card designed for immigrants, those with credit challenges, students, those with learning or physical disabilities, and other groups underserved by traditional finance.

The card has buy now, pay later functionality, and an API that uses AI to generate a financial health score as an alternative to traditional credit scores. Zorrz will now use IDnow’s KYC checks to comply with FCA regulations and facilitate fraud protection and customer verification.

IDnow’s document verification includes a face biometric comparison feature with liveness detection.

“Our collaboration with IDnow signifies our commitment to combating fraud while ensuring a frictionless experience for our customers,” says Zorrz Managing Director Priyesh V. Mistry.  “IDnow’s cutting-edge AI-driven identity verification aligns perfectly with our ethos of delivering both security and a smooth onboarding journey.”

IDnow is participating in the MAMMOth project, a three-year project to mitigate bias in AI algorithms involved in loan applications, academic evaluation, and face biometrics and identity verification. The project includes 12 European partners, academic institutions, associations, and companies.

Article Topics

banking  |  biometrics  |  digital identity  |  fintech  |  identity verification  |  IDnow  |  KYC  |  Oliu