IDVerse Brings Identity Assurance Tech to Temenos Exchange

IDVerse’s identity assurance technology is now available through the Temenos Exchange, a major online marketplace for fintech solutions.

IDVerse’s system allows organizations to verify new end users by comparing their smartphone-captured selfie image to pictures of their physical ID, with support for more than 16,000 kinds of identity documents across 142 languages. And the company’s solution stands out for having been entirely trained on generative AI, an approach that steers clear of privacy concerns about large face datasets and that can help to ensure diverse representation of subjects.

The Temenos Exchange, meanwhile, is run by Temenos, a global banking software company, and is meant to give financial institutions access to a wide range of fintech solutions and services that can integrate with Temenos’ banking platform. As Temenos’s Director of Innovation and Ecosystems, Martin Bailey, explains, it’s “an accelerator for fintechs and software developers, helping them develop, validate and monetize new banking solutions.”

Bailey added that the integration of IDVerse’s solution “means IDVerse can write once and be readily available to banks globally that run on our platform.”

News of the Temenos support comes after IDVerse launched its “FraudHub” solution just a couple of months ago. FraudHub is designed to flag repeat fraud attempts by recognizing the same faces and identity information from previous attacks across different transactions and channels.

IDVerse has previously distinguished itself as a provider of biometric and liveness detection solutions under the name “OCR Labs”. The company rebranded last year to better reflect its considerable evolution beyond the optical character recognition technology in which it first specialized.

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June 12, 2024 – by Alex Perala