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Fintech platforms add selfie biometrics to protect against payments fraud

Fintech platforms add selfie biometrics to protect against payments fraud
 

Paravision is providing face biometrics and liveness detection to an online payment platform, while Veridas has formed a partnership to secure transactions against fraud with selfie biometrics.

Paravision secures Fortress Payments user onboarding, checkout

Global fintech company Fortress Payments has selected Paravision’s selfie biometrics and liveness detection technology to upgrade the security of its user onboarding and checkout processes.

The Payment Identity Platform from Fortress Payments is enterprise-ready, according to the company announcement, and now integrates Paravision biometrics for more seamless user experiences.

The partners note the importance of face matching and deepfake detection technology in Fortress Payments’ pre-authorization checks to fighting fraud and reducing abandonment rates.

“We evaluated the world’s top biometric providers and made our selection based on their accuracy, speed, feature richness, corporate vision, and performance in NIST FRTE tests,” explains Fortress Payments CEO Alessandro Chiarini. “Paravision demonstrated the most mature product offering that fits our modern architecture requirements for enterprise use cases while delivering the best performance across categories. The level of trust and biometric acumen Paravision brings strengthens our position with enterprise partners, such as Visa, MasterCard, American Express, Discover, AWS, Microsoft, and Google.”

Fortress Payments has also adopted the tag line “The future of payments is biometrics.”

Veridas partners with Kount to combat click-and-collect fraud

Veridas has partnered with Equifax subsidiary Kount to help businesses fight click-and-collect fraud in the B2B sector with selfie biometrics.

Click and Collect fraud is one of the world’s fastest-growing fraud trends, the partners say, and involves the use of fake credentials to order or pick up goods from an online retailer.

Veridas’ face biometrics and ID document verification are being integrated with Kount’s software under the strategic partnership to conduct extensive checks on businesses and their directors for increased transaction security.

“By integrating Kount’s comprehensive risk management expertise with our advanced biometric identity verification technologies, we are setting a new standard in combating click-and-collect fraud,” says Sabrina Gross, Veridas’ regional director of strategic partners in EMEA. “Our collaboration is not just about enhancing security; it’s about fostering trust and reliability in the digital transactions of the B2B sector.”

Kount has previously integrated behavioral biometrics from BehavioSec as part of its fraud prevention toolkit.

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