Veriff enhances biometric security, Nametag and Tines partner amid rising ATOs

Account Takeover Fraud (ATO) has become an increasing concern, with fraudsters using techniques to target both individuals and businesses. According to Veriff’s fraud industry pulse survey 2024, nearly 78 percent of U.S. decision-makers have observed a rise in AI-driven fraudulent attacks over the past year. Accordingly Veriff has unveiled a product update, and Nametag and Tines a new partnership, each offering advanced account protection.

Veriff has updated its biometric authentication product offering, with the aim of improving user experience, security, and offering more seamless identity assurance. These updates prevent unauthorized access and account takeovers, the company says, among various other use cases.

“User authentication can be a cumbersome process, with some fintech customers completing an average of five different authentication sessions, which introduces friction and negatively impacts the experience,” says Hubert Behaghel, Veriff CTO.

“We’ve augmented our biometric authentication solution to make it more efficient, user-centric and secure. Our solution adapts to individual user behaviors, ensuring authentication for the users themselves rather than just a session. This level of biometric authentication is one step forward on our journey to one reusable digital identity.”

The company’s latest update includes advanced fraud checks, liveness detection, and anti-spoofing capabilities to thwart unauthorized access and account takeovers.

It also includes image resolution for better face-matching accuracy and improved detail capture in biometric templates.

Nametag identity verification integrated with Tines’ workflows

Elsewhere, Nametag announced a new partnership with Tines, a workflow automation company, to integrate its identity verification (IDV) technology into Tines’ security workflow automation platform. They aim to offer advanced ID verification capabilities to cybersecurity and IT teams globally to keep malicious actors from impersonating real users and bypassing traditional authentication factors.

The partnership comes as Tines secures $50 million in new funding to expand its platform beyond traditional security teams. Nametag’s automated identity verification software, combined with Tines’ drag-and-drop workflow automation tools, are designed to enable drag-and-drop automation and self-service account recovery, the partners say.

“The Nametag-Tines partnership is breaking new ground in combining artificial intelligence with workflow automation for advanced account protection,” says Aaron Painter, CEO of Nametag. “Together, Tines and Nametag are giving security and IT teams powerful new AI tools to protect their organizations, streamline operations, reduce costs, and improve experiences for legitimate users.”

The technology uses artificial intelligence and cryptography to counteract threats such as AI-generated deepfakes and digital attacks. Additionally, verification can be completed using a mobile phone and a government-issued photo ID, without the need for additional app downloads, the company claims.

Article Topics

biometric authentication  |  biometrics  |  digital identity  |  face biometrics  |  financial services  |  fraud prevention  |  identity verification  |  NameTag  |  Veriff