Idemia to reveal new security feature product at webinar

Idemia to reveal new security feature product at webinar

Idemia is unveiling a new security feature product on Thursday, November 25, 2021 · 10:00 AM (CET time).

Olivier Charlanes and Aimane Ait El Madani from IDEMIA will make a presentation on ID document fraud, a global challenge for governments, and the solution to combat it. They will then unveil IDEMIA’s latest disruptive technology based on optical variable elements. A Q&A session will follow the presentation.

To register see here:

https://app.livestorm.co/idemia-2/id-document-fraud-a-global-challenge-for-governments-and-the-solution-to-combat-it?type=detailed

Herta launches a new version of BioMarketing

Herta launches a new version of BioMarketing

Herta launches a new version of its marketing solution that now displays a control  panel with relevant information about the behavior of visitors in a business. 

The new version of BioMarketing has a Dashboard that shows real-time information on the performance of a business  and allows you to view online data on the number of visitors and their recurrence, the average dwell time or the level  of occupancy. 

The information of the new product allows to have a deeper description of the different visitor profiles, as well as to  be able to identify the ideal buyer in certain areas of interest. In addition, thanks to its statistics filter by dates, it also  allows the user to measure the impact of the seasonal campaigns carried out in each center, thus helping to maximize  the return on investment with a detailed analysis even by the hour. 

Herta is currently in the most innovative stage in its history. With more than ten years of experience in the market and  clients around the world, adapting both to the post-pandemic world and to the new needs of its ecosystem of partners  and users, strengthens the company to continue leading the field of facial recognition and artificial intelligence. 

Onfido appoints new directors

Onfido appoints new directors

Onfido, the global identity verification and authentication provider, today announced the appointment of Sue Barsamian as Director and Bill Losch as Audit Chair to its board of directors. Barsamian and Losch bring over 30 years of experience to the company’s executive team, with expertise in fast-growth technology companies pioneering identity and security solutions.

A highly accomplished business executive, Barsamian has overseen rapid growth for a range of leading technology companies, including at the helm of Hewlett-Packard Enterprise’s 2000-person software sales and marketing team. She currently sits on the boards of three public companies: Five9, Box and NortonLifeLock. Barsamian’s track record of building and mentoring teams extends to former board roles at security company Symantec, data company Segment, and identity management platform, Auth0. Her appointment brings a wealth of expertise to Onfido as the company fulfills global demand for secure, seamless access to digital services.

Commenting on her new position, Sue Barsamian said, “Identity theft losses increased 42% in 2020 reaching $712 billion, making digital identity verification critical for enterprises. Whether you’re in financial services, retail or healthcare, verifying that an online user is legitimate and present defines customer trust and determines if you’re a leader or laggard in the digital economy. Onfido helps billion-dollar businesses enable digital access, without compromising on security or experience and I’m looking forward to supporting them scale their solutions globally.”

Bill Losch is an industry veteran who has spent almost a decade as Chief Financial Officer of Okta, a leading identity and access management company and Onfido partner. His leadership as CFO helped Okta to scale quickly from a disruptive start-up to a publicly traded technology firm which has grown to a forecasted $1 billion plus in revenue and 13,000 global customers. Losch’s previous experience at hyperscale technology companies Yahoo!, DreamWorks Animation and Druva, makes him the perfect fit for Onfido as it prepares to embark on the next phase of its growth.

“Digital identities, and how we secure them, will be the key innovation of the next decade. Onfido is building an impressive roster of solutions that is unmatched by its competitors,” Losch commented on his decision to join Onfido. “There are many partners and customers who are excited about Onfido’s trajectory as it sets the course for better identity proofing and management in an increasingly virtual world. I’m thrilled to be working closely with its leadership team as the company continues to innovate and grow.”

Mike Tuchen, Chief Executive Officer of Onfido said, “Sue and Bill are two exceptional industry leaders with specialized experience in accelerating companies into hypergrowth, which will be vital as we embark on the next stage of our expansion journey. Robust identity verification has huge untapped potential as the digital economy expands — unlocking greater global opportunities, whether through financial inclusion, accessibility or fraud prevention. I’m thrilled to have an opportunity to work with Sue and Bill.  With our enhanced leadership team, we’re in a strong position to make accessing the digital economy a safe and smooth experience for everyone.”

The appointment of Sue Barsamian and Bill Losch to the board of directors follows significant financial momentum for Onfido. The company recently announced another record-breaking quarter in Q3, with a 93% increase year-to-October in global revenue and 100% growth in annually recurring revenue. Onfido also announced the acquisition of British biometric innovator, EYN, whose industry-first acoustic liveness technology will be incorporated into Onfido’s Real Identity Platform.

IDEMIA South Africa achieves level 1 B-BBEE status

IDEMIA South Africa achieves level 1 B-BBEE status

Company said the achievement recognises the continued efforts of the company in creating opportunities for black South Africans in its employment, supply chain and contribution to the community.

As part of the action plan to improve its status to Level 1, IDEMIA now works with over 40 black-owned local suppliers. This represents over 30% of IDEMIA’s local suppliers. Within the number of black-owned suppliers, more than half are owned/run by black women. In addition, 39% of the company’s employees are black women.

Empowerment is more than statistics. To truly create more opportunities for previously disadvantaged individuals, training and education are crucial. To this end, IDEMIA offers several training programmes for its employees, including finance for non-financial managers and intermediate & advanced level courses in the Microsoft Office Suite. Other training includes courses in soft skills such as conflict management and public speaking. In 2020, IDEMIA trained over 80% of its employees on skills that have value-added to their daily course of work.

As part of the IDEMIA’s Corporate Social Responsibility (CSR) programme1, IMPACT, the company is exploring initiatives with local education institutions to raise awareness of the STEMi fields, and create opportunities for students in STEM education. IDEMIA IMPACT aims to redefine sustainable business through 17 priorities, including a commitment to work on a global community program focused on education, young people and technology, under five key pillars (Communities, Environment, People, Customers/Partners/Suppliers, Ethics) by 2023. The company’s CSR achievements and ambitions are outlined here.

“As a technology company, expanding STEM education to even more children is an essential pillar of IDEMIA’s IMPACT programme,” says Jeremias. “We have been an active supporter of initiatives such as the MTN Business App of the Year, which are geared to uncovering and developing local talent. Now with the opportunity to work directly with local schools, we will be able to have a direct positive impact on enabling the expansion of the South Africa technical talent pool.”

The global leader in Augmented Identity, IDEMIA has been supporting the country’s economy with technology solutions for over two decades. Working with customers such as South Africa’s government agencies, financial institutions and mobile operators, IDEMIA has been facilitating a trusted environment enabling citizens and consumers alike to perform their daily critical activities (such as pay, connect and travel), in the physical as well as digital space. Located in Johannesburg, IDEMIA operates a state-of-the-art personalisation center and has grown to over 200-persons strong in the country. No stranger to innovation awards, IDEMIA’s biometric technology achieved the best accuracy with and without a mask during the 2020 Biometric Technology Rally, hosted by the US Department of Homeland Securityii.

HID Global brings PKIaaS into Europe

HID Global brings PKIaaS into Europe

Increasingly European enterprises must comply with regulations for establishing local residency of data and security infrastructure. HID Global now delivers its Public Key Infrastructure (PKI) as a Service (PKIaaS) with high availability and redundancy via a hybrid of data centers and cloud regions operated within the EU, enabling what it expects to be a growing number of European customers to simplify regulatory compliance.

HID Global, whose cloud-based HID PKIaaS platform delivers the industry’s broadest range of automation capabilities for managing privately issued and publicly trusted certificates.

Customers can choose for all data and cryptographic key material associated with HID Global’s PKIaaS to reside exclusively within the EU. By using multiple EU-based data centers and cloud regions, HID assures local residency without compromising high availability and redundancy.  This includes both its preconfigured service for a dedicated issuing certificate authority (CA) and its customized Private Root PKI service.

PKI is a foundational security technology that has become difficult to manage and maintain in-house without adding the cost and complexity of a dedicated, skilled staff. Outsourcing PKI solves the problem but must be accomplished without losing control of trusted assets. Local EU data residency and service redundancy further enhances this control while also making it easier for customers to comply with EU regulations.

HID has delivered local data residency and service redundancy through a combination of Amazon Web Services (AWS) and hosted data centers at multiple locations throughout the EU. The infrastructure is used to deliver HID’s complete PKIaaS offering, across all certificate validation systems.

The next generation in secure polycarbonate documents

The next generation in secure polycarbonate documents

The digital transformation is changing both the environment and the conditions for authenticating documents. Trained document examiners at the borders generally have less time to inspect travel documents and some others are required to detect evidence of document fraud based on images or videos captured remotely. Simultaneously, providers of mobile onboarding software solutions are challenged with the opportunity to use artificial intelligence, where machines and mobile devices equipped with software algorithms capture images and perform template matching to confirm authenticity.

It is with these trends in mind that OVD Kinegram has introduced the KINEGRAM® PCI with Full Data Protection (FDP) as an example of the next generation for data page protection in polycarbonate documents. As depicted in the generic “Bee Design” shown below, the ability to integrate the embedded Kinegram elements over a larger area in perfect optical harmony with other features such as the pre-printed patterns and images, leads to an overall document design which is intuitive and self-explanatory and hence suitable for quick and reliable human inspection. The FDP solution is suitable for both ID3 format passport data pages and ID1 format identity cards or driver’s licenses.

The optically brilliant metallized image of a bee can be seen collecting nectar from a flower in the background print design. The wings of the bee, depicted by fine metallic lines, flap as the document is tilted indicative of perfect registration between the metal and diffractive structures which is characteristic of the KINEGRAM ZERO.ZERO® technology.

Another bee which overlaps the laser-etched primary photo is prepared as a transparent image with a virtual 3D effect. The body of the bee appears to protrude from the surface. Running a finger of the image confirms that it is completely flat and non-tactile.

While this Kinegram design is ideal for human inspection, the individual security features of the Kinegram are designed to be amenable to computer vision and optical machine authentication using desk-top document readers and mobile phones.

 

 

IDEX Biometrics enables turnkey solution for Biometric Smart Card

IDEX Biometrics enables turnkey solution for Biometric Smart Card

IDEX Biometrics has announced a proprietary software platform including a biometric card operating system (COS) and applets developed in collaboration with its partners jNet ThingX Corp., a Preferred Security Partner of Infineon Technologies AG. This software platform enables a full turnkey solution for biometric smart cards, reducing the complexity of card manufacturing, accelerating time-to-market, and lowering costs.

The IDEX turnkey solution is an extension of jNet’s Javelin EMV COS, which is based on Java CardTM, the world’s most popular and open application platform used to secure smart cards. The initial software release has been optimized for use with the highly-differentiated smart card reference design jointly announced earlier this year by IDEX Biometrics and Infineon Technologies.

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The tight integration of this design enables fingerprint authentication with low latency, high accuracy, and excellent power efficiency. Full biometrically-authenticated EMV transactions can be completed in approximately 500 milliseconds end to end. The platform solution enables safe and easy user enrollment, secure storage of fingerprint templates, and rapid matching, all without any biometric data ever leaving the card. The COS is fully compliant with GlobalPlatform security standards and EMV interoperability requirements.

Card manufacturers leveraging IDEX’s turnkey solution can benefit from reduced time-to-market by six to nine months, while significantly cutting development and certification costs. The complete solution includes the hardware reference design including a proprietary passive inlay, a new COS, a suite of financial applets and a proprietary matching algorithm, deployed on Infineon’s latest secure element SLC38BML800 and accelerated by our proprietary TrustedBio ASIC. Fingerprint authentication is provided by IDEX Biometrics’ TrustedBioâ solution, which incorporates a fingerprint sensor, biometric functions, power management, and encrypted communications into a single module.

Vince Graziani, Chief Executive of IDEX Biometrics, adds, “This advanced software platform unlocks the differentiated performance of the IDEX Biometrics – Infineon collaboration. As a Preferred Security Partner to Infineon, jNet ThingX has experience with multiple generations of Infineon security devices making them the perfect development partner for our new software offering. This turnkey solution enables customers to quickly deploy fingerprint payment cards with industry-leading performance.”

The platform is available for customer evaluation now.

Totm Technologies to be included in MSCI Singapore Micro Cap Index

Totm Technologies to be included in MSCI Singapore Micro Cap Index

Totm Technologies Limited (“Totm Technologies” or the “Company” and, together with its subsidiaries, the “Group”) is pleased to announce that Totm Technologies will be included in the MSCI Singapore Micro Cap Index at the start of trading on 1 December 2021.

 

The MSCI Singapore Micro Cap Index is designed to measure the performance of the micro cap segment of the Singapore market. With 195 constituents, the index represents approximately US$12.7 billion of the free float market capitalisation of the Singapore equity universe1 . The index is based on the MSCI Global Investable Market Indexes (GIMI) Methodology — a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability and replicability.

Mr Pierre Prunier, Chief Executive Officer & Executive Director of Totm Technologies, said, “We are looking forward to the inclusion of the Company in the index as this is a key milestone that will enhance Totm Technologies’ trading liquidity and increase its visibility among global investors. We endeavour to step up our engagement with the investment community and promote Totm Technologies’ value proposition as a leading expert in Identity Management Solutions, especially in the space of Digital On-boarding and Digital ID. In the post-COVID-19 scenario, the global digital identity solutions market size is projected to grow from US$23.3 billion in 2021 to US$49.5 billion by 2026, representing a CAGR of 16.2% from 2021 to 20262 and the Group is poised to tap on this favourable trend.”

Stage set for Identity Week Asia

Stage set for Identity Week Asia

More high-profile speakers have been confirmed for Identity Week Asia, which is taking place virtually next week.

Ricarte Abejuela, Consul, Consulate General of the Philippines in New York will be taking part, as will Alok Agrawal, who is heading Gojek’s Identity product to build digital identity for consumers, drivers and merchants in the Gojek ecosystem.

Identity Week Asia will provide a central meeting point in Asia for anyone involved in authenticating human identity, whether via a secure credential, biometric, or digital identity solutions.

Governments, airlines, financial institutions, law enforcers, healthcare professionals and major corporations across the region are making Identity Week Asia central to their plans.

Dominic Chan, Director, National Digital Identity, GovTech Singapore is also speaking at the event and Nelson Goncalves, Identity Management and Biometrics Officer, International Organization for Migration, is taking part.

For more details of the agenda and to get your free virtual ass, see here.

Socure announces $450M Investment

Socure announces $450M Investment

Socure, a leading provider of digital identity verification and fraud solutions, announced its significantly oversubscribed $450M round at a $4.5B valuation from a number of the world’s best growth equity and public market investors. The company achieved a $4.5B valuation just seven months after its $1.3B Series D, on the back of 500% year-over-year bookings growth and nearly $1B of investment demand, earning Socure the highest valuation for any private company in the identity verification space.

The round is part of a Series E transaction led by Accel alongside funds and accounts advised by T. Rowe Price Associates, Inc. It also includes two new investors, Bain Capital Ventures and Tiger Global, as well as participation from existing investors Commerce VenturesScale Venture Partners, and Sorenson Ventures.

Socure will substantially accelerate its investments in product innovation to address identity verification challenges across the entire digital consumer journey, penetrate new markets including the public sector, as well as continue to attract and retain the best product, data science, and engineering teams in the world. The capital will also allow Socure to maximize the scale and intelligence of its customer consortium data and fully-automated ID+ platform to not only prevent third party and synthetic fraud, but also address payment and first party fraud risk while enabling world-class self-service analytics capabilities.

Socure ID+ has become the preferred identity verification and fraud platform for enterprises of all sizes and is trusted by four of the five largest banks, seven of the 10 largest credit card issuers, top Buy Now, Pay Later (BNPL) providers, top investment management firms, top crypto exchanges, and the majority of top fintechs. The company is also accelerating its market leadership in telehealth, gaming, e-commerce marketplaces, and the public sector. Socure customers have also become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, Voyager, and Synchrony. Other marquee customers include Chime, Varo Money, Public, Stash, and DraftKings.

Socure has emerged as the clear leader providing a complete identity verification and fraud platform with the highest adoption across all industries as it distanced itself from the competition with a 500% year-over-year bookings increase, 221% year-over-year customer growth, and five consecutive quarters of record year-over-year revenue growth. Last quarter, Socure also achieved an industry-leading net retention rate of 179% driven by near-zero attrition as its enterprise customers increasingly deployed multiple Socure products across various divisions, making Socure their complete fraud prevention, device, KYC, AML, and document verification platform.

Identity fraud continues to be fueled by the pandemic as more businesses and government agencies race to digitize, but with devastating consequences. In the private sector, according to Javelin Strategy & Research, identity fraud losses in the U.S. in 2020 reached a total of $56B. And in the public sector, 2020 identity fraud losses in unemployment alone totaled $400B.

Amidst the race to digitize, enterprises need to fuel their growth with new customers to remain competitive. Particularly those that are hard to identify including the 45 million+ group of U.S. citizens that are credit invisible, especially younger, thin-file 18-25 year olds and immigrants. Due to the unparalleled accuracy and inclusiveness of Socure’s KYC identity verification solution, if used exclusively across the country’s financial services industry, Socure’s technology could more than double the amount of automated approvals made in the U.S. in any given year for this population compared to legacy solutions.

Mastercard brings Digital Identity to exams in Brazil

Mastercard brings Digital Identity to exams in Brazil

Mastercard, Amigo Edu and idwall have partnered to help students simply and securely prove their identity when taking virtual exams. We recognize that digital interactions can be complex – often rife with friction, risk and lack of control for those involved. For example, the typical person now manages 100 passwords. On the flip side, identity fraud is one of the largest and growing challenges businesses and service providers are facing.

“Even as the world has gone digital, proving who we are is often still an analog process. It shouldn’t have to be that way,“ said Ajay Bhalla, president for Cyber & Intelligence at Mastercard. “With digital identity, consumers can unlock new and enhanced experiences as they interact with businesses, service providers and their communities – making it safer and more efficient to shop online, open a bank account, file taxes or book travel.”

Students will create a digital identity in idwall’s Meu ID app, which verifies their identity information. Following this, individuals can easily prove their identity before taking exams such as University Admission Exams, all through Amigo Edu’s platform. Mastercard provides a simple and flexible API-based integration for both organizations to connect to the ID network and enable the secure sharing of the verified identity credentials.

Once a student creates their digital identity, they will be able to use it across their academic life and beyond. For example, their digital identity can help them open a bank account, purchase an age-restricted product without proving their date of birth, or rent a car without having to hand over their driver’s license.

“With this partnership, we accelerate our ambition to create a global digital identity for Latin America.  This will create a new way for companies to implement digital identity and provide more privacy and security for users’ personal identity data. We look forward to expanding our app into different services as we aim to continuously build, through technology, a trustful and more inclusive society for everyone”, said Lincoln Ando, CEO of idwall.

“By combining our respective technologies and capabilities, we’re providing safe and easy solutions for students and the wider education sector in Brazil,” said José Roberto Dantas, CEO of Amigo Edu. “COVID-19 altered the education landscape, creating greater opportunities for hybrid learning, while also presenting challenges – like proving your identity. In 2020 alone, we’ve had half a million students participate in a variety of exams and we’re thrilled to be adding a digital identity component to further ensure security for all parties.”

Digital identity represents a new way for educational institutions to approach digital transformation and learning in the current environment. It makes it easier for institutions to embrace remote and hybrid learning and ensure learning can be facilitated if a student’s circumstances change. Overall, it improves access to education, skills and training for those who may be geographically, socially or otherwise excluded.

Additionally, digital identity provides the necessary flexibility and focus on user privacy to suit the needs of a contemporary student, wherever they’re based and whatever their educational level. It also eases the administrative burden on the institutions and helps drive an improvement in cybersecurity in a sector where it’s one of the major risk factors. 

Digital identity is not a digitized version of a passport, driver’s license or national ID card, or a new style authentication token, but much more than that. It provides a simple and secure way to prove identity digitally, giving individuals more control and privacy, while enabling businesses and organizations to deliver services with less friction and more confidence.

The company’s recent identity activity has included initiatives around the world across the travel, healthcare, education and telecoms industries – including Optus and Deakin University in Australia, the Good Health Pass Collaborative, and partnerships with the International Chamber of Commerce, Microsoft and Samsung. Following these efforts in Brazil, additional partnerships will be introduced globally in 2022.

Argos KYC enters deal with Smart Engines

Argos KYC enters deal with Smart Engines

Argos KYC, Korean KYC/AML service company, has partnered with Smart Engines, an AI-powered ID scanning vendor, to perform OCR data extraction with greater speed and accuracy.

Argos KYC will use high-precision Smart Engines’ software for intellectual data extraction of ID cards, passports, and driving licenses. This partnership improves and secures automated identity verification that is crucial for Argos KYC. It aims to increase its efficiency and speed of verification while maintaining data security and privacy at the highest level.

Smart Engines’ ID scanning software based on edge-cutting Green AI helps Argos KYC perform OCR data extraction faster and more accurately. Smart ID Engine SDK automatically identifies the document type, precisely extracts data at various angles and lighting conditions, and provides instant ID scanning ability to mobile applications.

The speed and accuracy of OCR data extraction are possible through the state-of-the-art GreenOCR technology created by Smart Engines. This OCR extracts data of ID cards, passports, residence permits, and other identity-related documents in more than 100 languages, including Korean, Japanese, and Chinese, all Latin-based and Cyrillic-based European languages with all special symbols. The SDK minimizes CPU energy consumption and carbon footprint thanks to the framework of low-bit pipelines for deep neural network inference. With Smart Engines ID scanning, the customer’s data is processed securely without sending anything to external services.

“I have no doubts that positive experience with the KYC solution will enable further expanding the services based on ID scanning for our customers and to effectively apply legal, regulatory and operational measures for combating identity theft, money laundering, and terrorist financing,” – said Q Lee, CEO at Argos KYC.

“We are proud that our OCR performs exceptionally well for the Korean language. Our partnership with Argos KYC not only corresponds to the needs of their business but will help it to get in the head place among its competitors,” – said Nikita Arlazarov, Chief Financial Officer at Smart Engines.

NSUR partners with Shufti Pro

NSUR partners with Shufti Pro

Reward-driven health and wellness-focused platform NSUR and AI-powered identity verification service provider Shufti Pro have entered into a strategic partnership to perform KYC and AML checks on cryptographic token users.

NSUR has collaborated with Shufti Pro for its state-of-the-art Know Your Customer (KYC) and Anti-money Laundering (AML) services to mitigate the risks of identity theft and money laundering. In the wake of the COVID-19 pandemic, as the concept of digitization has spurred great growth, it has also become a magnet for identity theft and online scams. Automated ID verification services offered by Shufti Pro can eliminate the risks of identity fraud while assuring compliance with regulatory requirements.

NSUR facilitates its customers with a vast network of services from reputable health and wellness retailers. Users can book a doctor’s visit and refill their prescriptions through NSUR’s telemedicine network and pharmacy benefit card respectively. NSUR will perform Shufti Pro’s KYC and AML on cryptographic token buyers to verify that the individuals are who they say they are and to prevent money laundering. The value protection program offered by NSUR will protect the token holders’ purchase value and assure them their value will be saved for two years. Not only this but the customer-centric services of NSUR provide token holders with a chance to claim back their lost value if they find that the value of holders’ protected tokens is less than what they paid for it.

KYC solutions rendered by Shufti Pro will monitor NSUR’s customers to ensure the company does not encounter any identity fraud. Shufti Pro’s AML screening identifies cryptographic token users against criminal watch lists, global sanctions, and Politically Exposed Persons (PEP) lists. These services can help NSUR to achieve online identity fraud prevention and compliance targets impeccably in one go.

“We are using ShuftiPro to perform KYC and AML on customers who are purchasing protected cryptographic tokens through NSUR’s Value Protection Program,” said Mark Peters, CEO of NSUR, “This program is one-of-a-kind, it is the first program we have ever seen in the cryptocurrency sphere to protect token holders’ purchase value. In short, through NSUR’s Value Protection Program, holders of protected tokens have peace of mind that the purchase value of their tokens will be protected against loss for two years. If at the end of two years, the value of holders’ protected tokens is less than what they paid for it, they can claim back the lost value from NSUR’s website,” he further added, “Thanks to ShuftiPro, we also have peace of mind that the people who are purchasing with NSUR are who they say they are and that they are not engaged in nefarious activities.”

Commenting on the partnership between two companies, Victor Fredung, CEO of Shufti Pro said, “We are delighted to provide KYC and AML services to NSUR’s clients. The services delivered by Shufti Pro will definitely help NSUR to verify users in less than a second thus ensuring the best customer experience.”

AI-Powered identity verification solution provider, Shufti Pro currently offers its KYC and AML services to 500 businesses worldwide. Employing a hybrid approach of AI and HI technology, Shufti Pro has extended its services to 230+ countries and territories.

Morpho Labs partners with Shufti Pro

Morpho Labs partners with Shufti Pro

Morpho Labs, a software company committed to the development of open-source blockchain programs, and Shufti Pro, an AI-powered ID verification service provider, have signed a strategic partnership to perform KYC and AML checks on investors that wanted to fund the company with cryptocurrencies.

With global regulators imposing stringent KYC and AML requirements on the cryptocurrency industry in recent years, effective KYC solutions have become vital for streamlining compliance. AI-powered KYC and AML services delivered by Shufti Pro will assist Morpho Labs in maintaining compliance with regulatory requirements.

Automated ID verification solutions offered by Shufti Pro will monitor Morpho Labs’ investors, assuring the mitigation of financial frauds through cryptocurrencies. Shufti Pro’s AML screening solution verifies the crypto users by screening them against Politically Exposed Person (PEP) lists, global sanctions, and criminal watch lists gathered by regulatory bodies such as FINTRAC, FATF, AUSTRAC along with others. With the help of these services, compliance targets and digital ID fraud prevention will be achieved seamlessly in one go.

“Shufti Pro definitely helped us to perform KYC and AML checks for funds that invested In Morpho Labs with cryptocurrencies” stated CEO of Morpho Labs Paul Frambot.

Commenting on the partnership, the CEO of Shufti Pro, Victor Fredung said, “We are excited to join hands with Morpho Labs in delivering state-of-the-art KYC and AML solutions for the crypto industry. We believe this collaboration will certainly mitigate the risks of identity and monetary fraud for Morpho Labs and will assist them in staying compliant with global KYC and AML requirements”.

AI-based identity verification solution provider Shufti Pro currently offers ongoing AML monitoring and KYC services to more than 500 businesses worldwide, in industries including finance, banking, crypto, and fintech among others. The company has extended its services to 230+ countries and territories and has won various awards owing to an accuracy rate of 98.67%.

Mindtree launches Digital Health Passport

Mindtree launches Digital Health Passport

Mindtree, a global technology services and digital transformation company, today launched Digital Health Passport for Travel, a solution that provides a smarter, safer and smoother experience to global travelers in navigating frequently changing travel regulations and restrictions related to the COVID-19 pandemic.

Mindtree_Logo
Mindtree_Logo

The solution offers travelers an easy, quick and secure way to comply with country-specific entry requirements and protocols. It enables them to locate COVID-19 testing providers, schedule tests and make sure that test results meet their destination’s criteria. It also facilitates swifter approvals by allowing travelers to digitally store, manage, validate and share test results, vaccine certifications, self-attestations, travel authorization forms and other travel documents.

“Amid a wide range of rapidly evolving travel health standards because of the pandemic with no single authority to harmonize them, travelers worldwide are dealing with a high degree of confusion and ambiguity,” said Venu Lambu, Executive Director and President, Global Markets, at Mindtree. “Mindtree’s digital health passport for travel is a comprehensive and long-term solution that addresses multiple aspects of travel-readiness and drives seamless, contactless and paperless travel health workflows. This makes it easier for travelers as well as authorities to make informed decisions, speed up processes and minimize health risks.”

Built using Hyperledger Fabric blockchain technology, this platform-based white label offering can work in tandem with the existing apps of travel suppliers, saving them the time, cost and effort required to engage with new partners for every change. The real-time, adaptive solution can be readily integrated with boarding gate readers, check-in kiosks, border management systems, e-gates and standalone identity desktops. It can also be easily plugged into Evernym’s verifiable credentials platform, Sherpa’s visa and travel rules API, International Air Transport Association’s (IATA) Timatic passenger verification database, and Smartvel’s AI-powered travel solutions.

Hamilton Reserve Bank and authID.ai announce deployment of ID system

Hamilton Reserve Bank and authID.ai announce deployment of ID system

authID.ai, [Nasdaq: AUID] (formerly Ipsidy), a leading provider of secure, mobile, biometric authentication, announced today that Hamilton Reserve Bank (HRB), a fully regulated global bank with worldwide offices (SWIFT: NIBTKNNE), has deployed authID.ai’s easy-to-integrate Identity as a Service (IDaaS) platform. HRB has deployed Verified™, authID.ai’s biometric multi-factor cloud-based authentication product that offers the ease of a “selfie” to confirm identity, thereby eliminating the use of vulnerable one-time passwords and knowledge-based questions for securing transactions and account recovery.

Hamilton Reserve Bank serves a large and rapidly expanding worldwide clientele, supports customer activities in more than 150 countries, offering customer deposits in 10 different currencies. As HRB launches new digital banking services with the Temenos Infinity banking platform, authID.ai, a Temenos Marketplace provider, provides high levels of identity assurance to HRB and its expanding international clientele. authID.ai’s biometric identity products are helping HRB reduce operational costs associated with supporting password resets, mitigate security risks arising from stolen passwords, phishing, and account takeovers, and ultimately deliver seamless customer experiences that fully satisfy international standards for HRB’s insistence on best practices in AML/KYC/CFT compliance.

“Hamilton Reserve Bank’s new digital banking platform makes it possible to achieve our mission of onboarding one-million new customers within the next 12 months, and authID helped us comply with rigorous regulatory programs through an automated onboarding product that accurately delivers secure, document-based identity verification and facial biometric matching of the customer,” said Prabhakar Kaza, CEO of Hamilton Reserve Bank. “Providing our valued customers with a seamless authentication experience was paramount to our growth. authID.ai’s device authentication has helped us eliminate passwords, and its cloud-based biometric authentication is securing outgoing SWIFT wires and beneficiary changes. We look forward to expanding our collaboration with authID and Temenos to support our rapid global expansion into new markets.”

In addition to deploying Verified, Proof™ by authID.ai delivers automated identity verification during digital onboarding of HRB’s global clientele, including quick mobile identity document capture and authentication, liveness confirmation, and facial biometric matching of a selfie to the credential photo. To provide a more secure and seamless login experience, AuthentifID™ offers FIDO2 password-less login and strong customer authentication with cryptographic security and compliance with PSD2 requirements, a critical need for international banks.

“Everything starts with trusted identity,” said Tom Thimot, CEO of authID.ai. “Our identity platform offers innovative solutions that are flexible, fast, and easy to integrate. authID.ai is committed to helping banks across the globe reduce the risk of identity fraud, eliminate the costs and hassles of passwords and ultimately deliver seamless authentication experiences to their customers.”

“We are pleased to see authID.ai, a Temenos Marketplace provider, launch its identity services integrated with Temenos Infinity at Hamilton Reserve Bank,” said Martin Bailey, Director of Innovation and Ecosystems, Temenos. “We carefully consider and curate a community of best-in-class fintech solutions that complement Temenos software to create the Temenos MarketPlace. authID.ai’s innovative biometric solutions will enable Hamilton Reserve Bank to not only combat identity fraud but simplify and streamline the customer journey with Temenos Infinity.”

SSARM on new EES Technologies at Bulgaria´s Aviation Hubs

SSARM on new EES Technologies at Bulgaria´s Aviation Hubs

SSARM is one of the leading IT systems integrator in Bulgaria and was awarded a major contract to equip Bulgaria’s aviation hubs with EES-compliant border control solutions following a tender by the Bulgarian Ministry of Interior last year.

In the meantime, SSARM has fully installed a secure turnkey solution at Sofia, Varna and Burgas airports in cooperation with its German partner secunet. Bulgaria has thus become one of the first countries in Europe to comprehensively prepare its busiest air borders for the EU-wide Entry/Exit System, long before its expected launch in May 2022.

Identity Week took time out to catch up with Nikolay Dimchev – Managing Director of SSARM –   

to find out more about the project, his most interesting findings and the added value for passengers, border control and airports.

What exactly did you install at the airports in Varna, Burgas and Sofia and why?

The reason for implementing new border control systems is closely related to the EU’s decision to introduce the Entry/Exit System throughout the Schengen area in 2022. By taking facial images and fingerprints, all member states will in future know better which third-country nationals are entering the EU and ensure that individual passengers do not overstay. This enhances the security for all of us.

However, the integration of these additional process steps at primary border control threatens to cause a collapse if infrastructures remain unchanged, because clearance takes an average of 40-45 seconds longer – per passenger! Therefore, process automation at all possible steps, i.e. also at stationary border control counters, is inevitable. The Ministry of the Interior therefore decided to comprehensively modernise the border control technology and commissioned us with the implementation. We then installed – in collaboration with our project partner secunet – ABC gates, self-service kiosks as well as camera systems and fingerprint readers for the stationary counters at the three aviation hubs in Bulgaria. The technologies fulfil very different functions and are sometimes intended for different passenger groups – but all technologies together will noticeably speed up the border control process and greatly reduce the workload of the responsible officers. 

Why did you decide to bring secunet on board as a partner for the EES implementation? SSARM is a well-positioned IT system integrator itself.

We have been working with secunet in the area of high-security technologies for a long time and they have consistently proven to us in previous projects that the quality of their products is not only right, but comprehensively meets the requirements of our customers. The experts at secunet simply understood the processes and requirements on the customer side well and implemented them respectively in their products. That’s why we also contacted secunet for the EES project. Although we are in an excellent position ourselves as system integrator who is very familiar with the Bulgarian market, we don’t have our own product portfolio in this area.

The EES solutions from secunet then also convinced us: they deliver EES-compliant biometric solutions, that assure the best possible quality of the biometric capture and are designed to be highly resistant to circumvention and forgery. This is extremely important, especially for unattended systems where the officer is not standing right next to them monitoring each passenger. And last but not least, all products have a very eye-catching, modern design – not to be underestimated considering today’s innovative airport architectures. 

The modernisation of the border control infrastructure was certainly a major investment. What advantages does it bring for passengers, airports and border control?

The benefits are quickly summed up: passengers – wherever they come from – now have access to automation technologies at the Bulgarian airports in Sofia, Varna and Burgas. If you like, they have at least a part of their border crossing in their own hands. Thanks to intuitive user guidance and innovative security mechanisms, passengers can be sure that their data will be captured quickly and is processed securely and in accordance with data protection regulations. The high-quality biometric acquisition is of course especially important for the border police. The officers are moreover ideally supported by the technologies and not put under additional strain. And the airports benefit from the fact that despite more extensive border control processes, which actually take more time, there are no significantly longer queues and missed connecting flights. In short: With automation and process optimisation, we have ensured that time limits and the increasing number of passengers under “EES operations” can also be thoroughly and securely absorbed.

What are your most important insights from this EES project?

Actually, we were confronted with the same challenges in the EES project as in almost every IT project: When things become more concrete than a description on paper, it is not uncommon that new or changed requirements arise from the customer side that have to be implemented in the running project at short notice. This is completely normal and we can deal with it very well.

In the case of the EES installations, for example, we installed the most modern, secure products and had to realise that this alone was not enough. Border control projects are about more than “just” installing technologies. The products should optimise passenger processes and fit perfectly into the respective environment and infrastructure, which is different at every airport and at every land border. This was an important and new insight for us. In this specific case, we also have integrated functional enhancements into the current project that were not planned beforehand. The installation of glass walls between stationary and automated border control or the construction of racks for the fingerprint scanners, which otherwise would not be perfectly positioned for the passengers, are small examples. Fortunately, together with secunet, we were able to offer all new customer requirements quickly and as needed, integrated them into the project implementation and still delivered on time.

Another important insight yet certainly not new is: You have to react flexibly right up to the end and remain focused on details if you want installations that fit perfectly and are also visually attractive.

Are there further points you would like to particularly highlight? 

The EES installation was our first border control project, our premiere, so to speak. We are proud and relieved that we fulfilled the task to the fullest satisfaction of the Bulgarian Ministry of the Interior. Having secunet’s people on board, who are very experienced, was of course an enormous advantage for us. In times of this pandemic, we learned a lot together and supported each other in the best possible way, even if we were forced to do so “remotely” for most of the project. Through this perfect collaboration, we succeeded in implementing the installations on time and achieving the customer’s declared goal: Bulgaria is one of the first countries in the EU to be equipped with an EES-compliant overall solution at the three aviation hubs, long before the official launch of the Entry/Exit System. We are proud of this.

Onfido acquires EYN

Onfido acquires EYN

 Onfido, the global identity verification and authentication provider, today announced another record-breaking quarter, with a 93% increase year-to-date (YTD) in global revenue and 100% growth in annually recurring revenue (ARR). The company also announced its acquisition of biometric innovator, EYN whose industry-first acoustic liveness technology will be incorporated into Onfido’s Real Identity Platform with its employees joining Onfido’s research and biometrics teams.

This strong momentum was driven by continued growth in U.S. and APAC regions and increased demand by financial services and mobility companies looking to scale up their remote customer onboarding. Onfido also strengthened its leadership team during Q3 with two strategic hires including Faisal Chughtai who joins as Chief Financial Officer (former CFO of Inxeption and Executive Director at JPMorgan Chase) and Nello Franco as Chief Customer Officer (former Managing Director of Customer Operations at Vista Consulting Group and SVP Customer Success at Talend).

“We’re excited to announce another record quarter powered by strong U.S. and APAC growth, as businesses emerging from COVID-19 realize the benefits of digital-by-default customer acquisition strategies,” said Mike Tuchen, CEO of Onfido. “As we continue to increase our investment in research and development to fill out our arsenal of tools to fight fraud, we’re pleased to welcome the EYN team to the Onfido family. By combining their LiveProof anti-spoofing technology with our existing image-based liveness detection, we’ll be able to offer a liveness product that is unmatched in the industry. ”

Since the onset of the COVID-19 pandemic, there has been a 60% increase in consumers accessing online services, from banks to insurance companies and retail. More consumers online have led to more cybercriminals attempting to set up fake accounts by impersonating legitimate customers. Liveness detection technology from Onfido and EYN aims to stamp this out by ensuring document and biometric checks are submitted live and that photos or deepfakes cannot be used to spoof legitimate users.

“We’re thrilled to join Onfido to help shape the future of online identity verification and allow more people to gain access to the vital services they need,” said Dr. Sheikh Faridul Hasan. “We share the same philosophy as Onfido: building trust and security at onboarding and throughout the customer journey doesn’t mean that companies need to compromise on user experience or fraud detection.”

EYN’s industry-first anti-spoofing technology uses audible sound and ultrasound wavelengths from a mobile device to actively probe for the presence of a live person, much like a sonar system. Its patented LiveProof technology will be incorporated into Onfido’s Real Identity Platform, strengthening existing image-based biometric anti-spoofing capabilities to give customers greater assurances that their remotely onboarded users are who they say they are.

“As we move to our next phase of growth, I’m also excited to welcome two US-based industry veterans to our executive team. Faisal brings 20+ years’ experience as a CFO, GM and Investment Banker for internet and software companies, growing businesses at scale, and deep experience with IPO, financing and M&A strategies. Nello,  joining as CCO, has advised Vista’s $70B enterprise portfolio companies, and transformed public companies into customer-first organizations. His role at Onfido will drive cross-functional initiatives across the company to ensure our marketing, sales, and customer-facing teams communicate, sell, and deliver the value that we promise to our customers.”

Pure M Global choose iDenfy for real-time identity verification

Pure M Global choose iDenfy for real-time identity verification

Investment company, Pure M Global, chooses ID verification service provider, iDenfy, to comply with KYC & AML regulations.

Convenient as it is, living in the digital world has its flaws. Cyber security, for one, is now more crucial than ever – both to meet regulations and protect against fraudulent actors.

Data security was the number one priority for Pure M Global, a group of companies working in the forex, crypto exchange, and investment industry. It recognized the importance of safety and security in cyberspace, which has led the platform to seek a partner that could assist the company in this regard. 

Joining forces with iDenfy, a company offering a safe and reliable identity verification method, proved to be sufficient – both companies share the priority of safety and security for their clients, and the customer onboarding process is now more secure and faster than ever.

Due to the partnership, the clients of Pure M Global can now feel safe in their transactions and enjoy efficient and reliable services. The company prides itself in a new way of trading, outlined by low market spreads and no requotes, real Straight Through Processing (STP) and Direct Market Access (DMA). In addition, the company will also be provided with a reliable method to perform CDD, resulting in enchanted detection and prevention of fraud.

“We are glad to have chosen iDenfy as our partner. Using their system made customer onboarding faster and more reliable. With fraud prevalent as it is, having an extra layer of protection is also crucial. And iDenfy has proven that it can deliver what we seek for and more,” said the CEO of Pure M Global.

“We look forward to working with Pure M Global that is maintaining high internal and external compliance standards, regardless of any outside regulators. Taking an extra step for safety and security is something we share. Thus, working together will be a delightful experience for both of us. We will do our best to keep Pure M Global and their clients satisfied,” said Domantas Ciulde, CEO of iDenfy.

FacePhi launches digital identity platform

FacePhi launches digital identity platform

FacePhi is taking the definitive leap towards leadership in digital identity verification with this multi-biometric, single solution recognition platform, which will be presented at Money20/20 Las Vegas, the largest fintech event in the world. The Spanish firm has launched its new modular platform, FacePhi Identity Platform, a flexible solution capable of combining different biometric solutions within the same tool and available in different architectures, with which to offer greater adaptability to needs in terms of regulatory compliance and particular requirements of any country, industry or use case where it is applied.

The development of this customisable, codeless platform represents an important evolution for the company, which moves from providing individual biometric solutions to providing a tool that allows each company or public entity to design, in a customised way and according to their needs, their digital onboarding processes and authentication. This modular solution incorporates control of operations in real time, a dashboard with the most important performance indicators (KPIs), as well as a record of transactions and statistics, among other functions.

The increase in cybersecurity and greater protection for the user in their digital interactions is another of the highlightable aspects of the FacePhi Identity Platform. Thanks to its combination of different biometric solutions, the platform offers authentication through multiple factors, and is more effective against fraud attempts and identity theft. Furthermore, continuing the philosophy of ‘ethical biometrics’ promoted by the company, the recognition performed by the technology will always continue to be consented to by the user and their information will be treated with maximum privacy -and in accordance with the applicable data protection legislation.

“The development of a multibiometric platform is a natural evolution for FacePhi, both because of our experience in designing different biometric solutions for identity verification and because of the change that our society is experiencing in its relationship with the digital environment,” explains Javier Mira, President and CEO of FacePhi. “In an increasingly digitised world, people need to interact with companies and public administrations more quickly, comfortably and safely, with the guarantee that their personal information will always be processed appropriately and with their prior consent. Our modular platform responds to the need to adapt to all types of casuistry and users, offering a flexible model that allows accessibility to various regions, industries and use cases.”

FacePhi is currently in an important moment of expansion, with the consolidation of its presence in South Korea, maintaining a strong leadership in its sector in Latin America and entering new markets such as Chile, Vietnam and Nigeria. In parallel, the company has grown in its structure, doubling its team of professionals in 2020 and currently employing more than 150 people. In the last year, the Spanish firm has also initiated a change in its marketing model through partners of great international relevance, expanding its ability to enter new markets and sectors.

After the presentation of its latest product, the company will remain at Money20/20 until the close of the current edition, which is being held in Las Vegas and will run until October 27th