Fintracker acquisition, Veriff SMB app, ConnectID-Telstra deal to streamline IDV

One of Canada’s biggest providers of title insurance and real estate technology FCT has announced a “majority investment” in identity verification provider Fintracker.

Fintracker is a provider of IDV for real estate transactions in Canada, and the partnership is expected to deliver greater efficiency, enhanced security and consistent compliance to the country’s real estate market, according to the release.

“This investment demonstrates FCT’s dedication to driving innovation in the real estate industry,” commented Michael LeBlanc, CEO of FCT.

He continued: “Fintracker’s advanced identity verification technology, combined and integrated with our trusted services, will help create a more secure, seamless, and fully compliant experience for all stakeholders, while shaping a future of connected and intelligent identity verification processes.”

FCT is aiming to create a connected identity ecosystem, with Fintracker’s integration, that’ll speed up the home-buying process while boosting data security and compliance, according to the Oakville, Ontario-based company. Fintracker’s founders Simon Fiore (CEO) and Matt Amihude (CTO) will continue leading the company’s long-term growth and expansion.

“Partnering with FCT enables us to scale our mission of simplifying compliance for agents and brokerages across Canada,” said Fiore. “Our shared vision is to minimize friction for both the public and our clients, while raising the bar for KYC and AML compliance,” he added.

SMBs to benefit from new Veriff app

Veriff has launched an app that could meet the needs of small to medium-sized businesses seeking to employ identity verification technology.

The global identity verification and authentication platform Veriff is introducing an App for Zapier to automate verification workflows. The company says the integration is best suited for SMBs that are “starting their IDV journey with Veriff” or looking to “streamline decision-making processes.”

Staff Product Manager at Veriff Maksim Afanasjev commented: “Many smaller businesses lack engineering resources and development complexities often hinder their ability to implement robust verification solutions quickly and efficiently.”

Veriff’s App for Zapier allows businesses to automate identity verification decision workflows, enabling data analysis to help accelerate growth and improve operational effectiveness, Afanasjev said. The App for Zapier connects Veriff with thousands of other apps, with the “no-code solution” shortcutting the need for complex development.

“There are no limits to the industries or verticals that can use this solution,” Afanasjev said. “However, we see the most benefit from our integration in e-commerce platforms, financial services, and SaaS applications,” he added.

Telstra verifies with ConnectID

A new verification method, that will reduce the amount of data being collected, will be available to Australian customers activating selected mobile services.

Australian Payments Plus (AP+) and Telstra are partnering to offer identity verification via ConnectID, which connects organizations that need identity verification to existing trusted sources of that information such as a bank.

Australian banks CBA, NAB, ANZ (via ANZ Plus) and Westpac are live with ConnectID, with the result that millions of Australians can use their bank to verify their identity. ConnectID is the network provider so it does not see or store the identity data, and acts as a “verification bridge” between different parties.

Lynn Kraus, CEO of AP+, said, “In the digital age economy there is a vital need to build trust between people and the organizations they interact with. When a major organization like Telstra enables customer verification without asking for documents to be uploaded, that’s a big step forward.”

Telstra’s executive director of operations Michael Griffiths said that introducing ConnectID to selected mobile services represented “major progress” in making identity verification more seamless and less time-consuming.

“By simplifying the process and removing the need to collect and retain original ID documents, ConnectID is a more secure option, and another way we’re helping to protect our customers,” Griffiths said.

Telstra and Australian Payments Plus said they’re “exploring opportunities” to expand the roll out to other services.

Article Topics

Australia  |  biometrics  |  Canada  |  connectID  |  digital identity  |  Fintracker  |  identity verification  |  real estate  |  selfie biometrics  |  Veriff