Gemalto has announced it is offering its ID Verification solution to private sector enterprises such as banks and mobile operators.The company says its suite of tools and services enables robust yet swift verification of customer credentials when opening new accounts and subscriptions in -branch or online, reducing financial losses and the negative impact on brand reputation caused by identity fraud. Gemalto adds that its ID Verification also helps financial Institutions enhance their Know Your Customer (KYC) procedures, in line with the latest regulations, such as Anti-Money Laundering Directive (AMLD4). The enrolment process encompasses verification of documents such as ID cards and passports for forgeries and other discrepancies, biometric and/or visual customer authentication, and immediate background and risk assessment checks against relevant databases and watch lists. It can be performed by branch staff using a standard scanner or tablet. Alternatively, online customers can photograph their ID credentials, and submit for automatic verification. Gemalto says: "ID Verification protects enterprises against the threat of fraudsters opening bank accounts or acquiring subsidised mobile phones, for example, and provides a firm foundation from which to launch innovative new services." It can be integrated with existing infrastructures and is available as a platform, or in Software as a Service (SaaS) mode."ID fraud is one of the fastest growing crimes on the planet and there is a direct impact on the private sector with substantial financial losses," says Jean-Claude Perrin, vice president of Strategy and Marketing for Gemalto. "54% of data breaches in 2014 related to identity theft, 17% aimed at financial access and 11% sought account access."

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