authID.ai Provides Biometric Onboarding and Identity Verification for Hamilton Reserve Bank

Hamilton Reserve Bank is turning to authID.ai for secure onboarding and identity verification. The financial institution has deployed a full suite of authID.ai solutions, and is using authID.ai’s Proof solution for mobile onboarding and its Verified solution for ongoing authentication and account recovery. The bank is also using AuthentifID to enable passwordless logins that are compliant with the FIDO2 standard and the latest PSD2 requirements for strong customer authentication.

Proof and Verified both leverage facial recognition technology. The former allows prospective customers to open an account remotely with a selfie and a photo ID. Those customers will be asked to take a picture of their ID, and the platform will confirm that the ID is authentic, and then use facial recognition to match the selfie to the image on the document. The solution uses liveness detection to make sure the user is present for the interaction.

Once that registration process is complete, Verified will enable facial authentication for future interactions. The solution is designed to replace one-time passwords and other knowledge-based authenticators, so customers will be able to use a selfie as proof of identity when they want to complete a transaction or recover an account. AuthentifID, meanwhile, will similarly support a more streamlined (and passwordless) login experience.

The deployment is being carried out in collaboration with Temenos. Hamilton recently started using the Temenos Infinity platform to introduce new digital banking services, while authID.ai is one of the technology providers available through the Temenos Marketplace. According to auth.ID, the arrangement will help guard against phishing and other forms of fraud, and reduce the number of password reset calls for the IT department.

“Hamilton Reserve Bank’s new digital banking platform makes it possible to achieve our mission of onboarding one million new customers within the next 12 months,” said Hamilton CEO Prabhakar Kaza. “Providing our valued customers with a seamless authentication experience was paramount to our growth. We look forward to expanding our collaboration with authID and Temenos to support our rapid global expansion into new markets.”

Hamilton can take deposits in 10 currencies, and offers services in more than 150 countries around the world. Ipsidy officially rebranded as authID.ai back in June.

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October 28, 2021 – by Eric Weiss