Global Payout and ImageWare Team Up For Biometrics in Finance

October 23, 2013 – Peter B. Counter

ImageWare has signed an agreement with electronic payment solutions provider Global Payout to provide its patented GoCloudID platform as a biometric-powered fraud prevention measure. The ImageWare offering is a Software-as-a-Service (SaaS) solution, running on top of Fujitsu’s Global Cloud Platform and will be applied to Global Payout’s Consolidated Payment Gateway (CPG).

“Our MoneyTrac Consolidated Payment Gateway platform enables our multinational business clients to efficiently make payouts to their employees, contractors, and affiliates through a single management console,” describes Global Payout EVP of sales and marketing, Bill Rochfort.

The payment solution aids banks and payment processors customizable options for domestic and international transactions that include bank, credit and debit cards through desktop and mobile devices. As with all financial services, new modes of security are needed to keep up with fraud prevention in a world that has quickly outgrown the PIN code protection of the past.

This is, of course where ImageWare comes in: supplying multi-modal biometrics that are being used successfully in other verticals to the financial and electronic commerce world. GoCloudID, following the SaaS model, will require a user enrollment fee followed by subscription payments that will vary based on the customer’s needs.

Adding a layer of biometric security may have once seemed excessive to the layman, but ImageWare’s SaaS model goes to show that the efficient and strong security offered by multi-modal solutions is not only monetizable on a subscription level in the financial industry, but quickly becoming standard practice in the financial industry, which has long been waiting for a higher level of online customer verification.

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

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