US-biased financial compliance platform Kompliant selects authID’s biometric authentication for secure merchant onboarding.
Kompliant, which works with payment processors and sponsor banks, will integrate authID’s biometric authentication platform Verified to stop identity fraud and automate digital onboarding for its customers.
It will deploy authID’s identity authentication solution to streamline and secure online merchant application processing and transaction monitoring.
According to Kompliant, the integration with authID’s Verified solution will enable it to deliver biometric identity authentication during digital onboarding for its clients, including quick mobile identity document capture and validation, liveness confirmation and presentation attack detection, and facial biometric matching of a selfie to the credential photo.
Edward Katzin, CEO of Kompliant, says: “Given the increased occurrence of cybersecurity threats on financial institutions and payments processors over the last few years, we recognised the acute need to offer our customers a fast, convenient, and highly secure identity verification solution.
“authID’s cutting-edge biometric authentication platform proved to be the ideal solution, allowing our team to focus on our core mission of managing the compliance lifecycle for our customers.”
Verified enables users to authenticate their identities anywhere, at any time. New users capture their identity document and a live selfie in a web browser on any mobile device or desktop, and authID matches the selfie against the picture extracted from the identity document to verify that the user is who they say they are.
For Kompliant, which recently raised $14million in a seed round from Level One Fund, this empowers their customers to establish digital identity trust during merchant onboarding with automated identity authentication.
Tom Thimot, CEO of authID, comments: “Banks, payment processors and other financial institutions should be able to concentrate on driving revenue growth without compromising fraud prevention or regulatory compliance.
“Our Verified integration will allow Kompliant to meet its clients’ identity authentication needs with best-in-class biometric technology. We are thrilled to join forces with Kompliant to offer secure merchant onboarding with speed, accuracy, and trust while ensuring user experience goes undisrupted.”
Image and article originally from thefintechtimes.com. Read the original article here.