Financial services

High demand for selfie biometrics in financial services prompts partnership with Acuant

Demand for selfie biometrics and related integration technologies continues to be strong in financial services, with Acuant signing an agreement to provide its identity verification technology to enterprises, and ComplyCube, Yoti and CyberLink expanding their KYB customer bases and KYC.

Acuant has integrated its biometrics and other technologies for seamless digital identity verification with ServiceNow Financial Services Operations to offer a single solution for KYC, KYB and anti-money laundering compliance for financial service providers.

ServiceNow’s new solution provides an automated, risk-based approach to knowing your customer and knowing your business verifications, applying friction only to suspicious identities, according to the announcement. Acuant verifies global data sources for commercial verification purposes and performs customer due diligence for ultimate beneficial owners.

The partners say their combined solution also includes real-time risk detection and inclusive global coverage.

“Navigating the complexities of regulatory compliance while delivering an experience that meets customer expectations and rivals the competition is no easy task,” said Christina Luttrell, CEO, GBG Americas (Acuant and IDology). “Through this integration, we are helping financial institutions deliver the best possible digital experience, end-to-end, and succeed in an environment of increasing fraud, regulation and competition.”

GBG Americas Group was created by GBG earlier this year, following the closing of its Acuant acquisition.

The customer wins

ComplyCube has partnered with ratings agency Capital Pilot to provide KYC checks and digital identity verification in support of a new £5m (approximately £6m) seed investment fund. U.S. dollars).

The Boost Fund has already unveiled its first five investments, and the partnership with ComplyCube will support the fund as it progresses towards a goal of 100 investments in less than 6 months.

“ComplyCube inherently accelerates time to market, a feature valued by our customers. That’s why we’ve enhanced our starter program to help more businesses access our market-leading identity verification services,” says Mohamed Alsalehi, CTO at ComplyCube.

Yoti was selected by the investment platform to further streamline client onboarding while maintaining compliance with Financial Conduct Authority rules.

Yoti provides digital identity verification through its partnership with the Post Office to bolster Further’s KYC and AML processes, according to the announcement.

“To deliver a high-quality, premium and trustworthy experience for today’s investors, it was important that we find a tool with a user experience that matches ours and is simple to use on all devices. – and Yoti did it”, comments the CEO of Further. Rob Timoney.

CyberLink provides its FaceMe facial recognition and biometric liveness detection to Good Finance’s KYC account opening process.

The integration should eliminate the errors of manual identity verification, while allowing new customers to register online.

Users can be onboarded through the Good Finance mobile app with a photo of their ID and a selfie taken on their mobile device.

Article topics

Acute | AML | biometrics | ComplyCube | Cyber ​​Link | digital identity | financial services | fraud prevention | identity verification | KYB | KYC | integration | selfie biometrics | Yeti