Demand for selfie biometrics and related onboarding technologies continues to intensify in financial services, where Acuant has signed a deal to provide its technology for identity verification for businesses, and the ComplyCube, Yoti and CyberLink are expanding their KYB and KYC customer bases.
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 services providers.
The new solution from ServiceNow provides an automated, risk-based approach to know your customer and know your business analyses, applying friction only to suspicious identities, according to the announcement. Acuant reviews global data sources for business verification, and performs customer due diligence reviews for Ultimate Beneficial Owners.
The partners say their joint solution also features real-time risk detection and includes global coverage.
“Navigating the complexities of regulatory compliance while delivering an experience that meets the expectations of customers and competitive rivals is no easy task,” said Christina Luttrell, CEO, GBG Americas (Acuant and IDology). “Through this integration, we’re helping financial institutions deliver the best digital experience possible, from start to finish, and succeed in an environment of increasing fraud, regulation and competition.”
The GBG Americas group was created by GBG earlier this year, following the closing of its acquisition of Acuant.
The customer wins
ComplyCube has partnered with startup rating agency Capital Pilot to provide KYC checks and digital identity verification in support of a new £5 million (approximately US$6 million) startup investment fund.
The Boost Fund has announced its first five investments, and the partnership with ComplyCube will support the fund as it soars toward its goal of 100 investments in less than 6 months.
“ComplyCube inherently accelerates time-to-market, a feature our customers love. That’s why we’ve enhanced our Startup Program to help more businesses access our market-leading identity verification services” said Mohamed Alsalehi, CTO at ComplyCube.
Yoti was selected by the investment platform.
Yoti provides digital identity verification through its partnership with the Post Office to strengthen Further’s KYC and AML processes, according to the announcement.
“In order to deliver a high-quality, premium, trusted experience for today’s investors, it was essential that we found a tool with a user experience that matched our own and was straightforward to use on all devices – and Yoti delivered,” commented the Further CEO Rob Timoney.
CyberLink provides its FaceMe facial recognition and biometric liveness detection in Good Finance’s KYC account opening process.
The integration is expected to eliminate errors from manual identity verification, while allowing new customers to sign up 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
Acuant | AML | biometrics | ComplyCube | CyberLink | digital identity | financial services | fraud prevention | identity verification | KYB | KYC | onboarding | selfie biometrics | Yoti