Identity verification integrations unveiled by Socure, OneID, Persona and uqudo

Identity verification providers are combining selfie biometrics with tools like open banking and contextual matching to streamline user onboarding and fight fraud across a range of sectors.

Socure has partnered on open banking, OneID’s technology is being integrated to fight payment fraud, and Persona has launched new software to ease regulatory compliance. Uqudo, meanwhile, has partnered with Huawei Cloud to boost regional expansion efforts.

The overall market continues its strong growth.

Regula has reached the 100 million user milestone after a year of 135 percent user growth. The number of end-users served by Regula in the U.S. spiked by 216 percent over the past year, while users in the UAE grew by 321 percent, and those in the UK increased by 95 percent.

“Leveraging our deep-rooted expertise in both hardware and software, coupled with our strong and enduring connections within the forensic community, Regula has crafted a unique proposition,” says Regula EVP of Identity Verification Solutions Henry Patishman. “This combination of cutting-edge technology and forensic expertise allows us to deliver a deeply enriching experience for a wide range of applications to streamline onboarding and prevent identity fraud.”

Socure partners on fast onboarding through open banking

Socure has been selected by open banking provider Trustly to provide the identity verification component of a solution for streamlined onboarding and Pay by Bank transactions to online merchants and fintechs.

The integration of Socure’s ID+ identity verification platform allows merchants, including those in investing, gaming, trading and financial services where strong KYC checks are required, to simplify onboarding with selfie biometrics and enable fast payments. The combination of capabilities speeds up the onboarding process by up to five times, for improved conversion rates, according to the announcement.

“This partnership enables Trustly to better serve our customers who can now provide a seamless onboarding and payment solution for their consumers and realize increased conversion,” said Craig McDonald, Chief Business Development Officer at Trustly.  “Combining Open Banking with KYC and screening, greatly enhances the robustness of user onboarding and incorporates a seamless payment solution, providing consumers the ultimate onboarding experience.”

The integration follows an established model for Socure, which brought its KYC and document verification technologies to a partnership with digital lending platform MeridianLink last July for easier customer onboarding.

OneID tackles authorized push payment fraud

OneID is supplying its biometric identity verification to Confirmation of Payee provider SurePay to protect businesses and individuals from authorized push payment fraud and other forms of cybercrime.

“In our experience, Digital Identity and Confirmation of Payee are a valuable combination,” says SurePay CEO David-Jan Janse. “For both efficient onboarding, as well as preventing fraud and money laundering. We are therefore very much looking forward to working with OneID, the leading innovator in digital ID.”

OneID bills itself as the UK’s leading digital identity verification service for document-free checks, and is contributing digital ID checks, fraud checks and bank account ownership confirmation for comprehensive defense against payments fraud.

Persona expands EU compliance capabilities

Persona has launched a new suite of software to expand its digital identity platform and help businesses meet European Union regulatory requirements.

The new tools from Persona deliver automated and seamless business onboarding and know your business (KYB) compliance checks, according to the company announcement. The help organizations dealing with Europe’s complex regulatory landscape, which now includes the Digital Services Act (DSA) and DAC7.

“Persona allows us to work with incredible accuracy across the geos we serve. Our process was essentially fully manual before. Persona’s automated KYB capabilities help massively in removing the chance of error,” says Dave Barrett, Risk and Compliance Manager at WeTravel. The Netherlands-based company claims to be carrying out KYB checks 100 times faster than before using Persona’s technology.

Persona says its new software suite help automate KYB and KYC processes globally, allows businesses to adapt quickly to regulatory changes, and improves onboarding rates with AI-powered contextual matching.

Uqudo partners to address ID verification market in MEA

UK-based uqudo will serve its digital identity verification technology to customers in the Middle East and Central Asia via the Huawei Cloud, following a new partnership.

The deal will enable each company to acquire new customer and pursue new geographic markets, according to the announcement.

“By combining uqudo’s innovative digital identity platform with Huawei Cloud’s global reach, we’re creating a future where identity verification is accessible to everyone, on a platform of their choice,” says uqudo VP of Channels and Partnerships Basil Macklai.

Article Topics

biometrics  |  identity verification  |  KYB  |  KYC  |  OneID  |  Persona  |  Regula  |  Socure  |  uqudo