Vendor News Roundup – October 28, 2024

In addition to some of the bigger news stories unfolding in the identity technology landscape, this week has delivered a number of announcements from technology vendors active in the space. Here are the latest:

Proof and ServiceLink Partner to Enhance Identity Verification and Prevent Fraud in Real Estate Transactions

Proof has partnered with ServiceLink to enhance identity verification in real estate transactions, integrating Proof’s Identify solution into ServiceLink’s workflow. The collaboration aims to strengthen security for both digital and traditional transactions, offering biometric comparisons and compliance with NIST IAL2 standards. It streamlines processes for eSignings and in-person signings while addressing rising fraud risks in the real estate sector, providing more effective fraud detection tools for ServiceLink clients.

AuthenticID Launches Comprehensive Identity Verification Platform, AuthenticID360, with Rapid Two-Second ID Checks

AuthenticID has launched AuthenticID360, a comprehensive identity verification platform, offering a two-second response for ID checks. The system includes biometric authentication, KYC/KYB checks, and fraud detection, using AI-driven automation to ensure accuracy. It features tools for monitoring transactions, sending verification requests, and customizing settings based on risk. The platform aims to streamline digital identity verification while preventing fraud with advanced algorithms and deepfake detection. Future enhancements will include digital identity features like mobile driver’s licenses and verifiable credentials.

iProov and TrustCloud Partner to Strengthen Digital Identity Management with Biometric Verification and Post-Quantum Encryption

iProov has partnered with TrustCloud to enhance digital identity management, focusing on secure onboarding and verification. The collaboration merges iProov’s biometric verification with TrustCloud’s expertise in post-quantum encryption and secure digital wallets, aiming to provide safe and streamlined digital experiences for sectors like financial services and healthcare. This partnership follows iProov’s recent FIDO certification for its Dynamic Liveness Solution, which demonstrated strong protection against biometric fraud, enabling enterprises to adopt verified biometric systems with high security standards

Entrust Unveils AI-Driven Banking Platform to Strengthen Fraud Prevention Across Consumer Lifecycle

Entrust has launched an AI-powered banking platform to enhance fraud prevention across the customer lifecycle, from account creation to transactions. It incorporates biometric verification, document validation, and real-time fraud monitoring to mitigate risks such as synthetic identity fraud and phishing. The platform also supports rapid issuance of digital and physical cards, with tools for quick identity re-verification at high-risk points. Featuring The Entrust Studio, a no-code workflow tool, it allows banks to customize security and meet regulatory requirements in the evolving digital banking sector.

iDenfy Launches eIDV Solution with Cross-Database Verification to Combat Identity Fraud

iDenfy has introduced an electronic identity verification (eIDV) system utilizing “2+2” verification, which cross-checks data from multiple official U.S. databases to authenticate user identities instantly. This solution provides customizable options for industries needing varied security levels, including document and selfie verification, and aims to meet regulatory standards efficiently. Designed for high-risk sectors like fintech, gaming, and real estate, iDenfy’s eIDV system addresses sophisticated fraud risks by combining automated cross-referencing technology with secure onboarding.

Veriff Introduces FaceBlock to Boost Fraud Prevention for Small and Medium Businesses

Veriff has introduced FaceBlock, a new feature within its Self-Serve identity verification platform designed for small and medium-sized businesses (SMBs). FaceBlock enhances security by enabling SMBs to detect and block repeat offenders who attempt to bypass security with different devices or documents. The tool allows customers to add facial biometrics of known fraudsters to a blocklist, creating a more tailored fraud prevention approach. Veriff’s Self-Serve product, which supports over 11,500 government-issued IDs and provides a high level of automation, aims to give SMBs a scalable and flexible identity verification solution that addresses the increasing threat of AI-driven fraud, including deepfakes.

Jumio Introduces Liveness Detection to Enhance Identity Verification Against Evolving Fraud Techniques

Jumio has launched Jumio Liveness, a liveness detection technology designed to combat sophisticated fraud techniques, including injection attacks and deepfakes. Introduced at Money20/20 USA, Jumio Liveness verifies user authenticity by monitoring for multiple individuals, signs of coercion, or unconscious individuals during identity verification. It integrates into Jumio’s multi-layer defense approach, combining AI-driven fraud detection and anti-spoofing technologies to protect businesses from both current and emerging threats. The system also uses automated capture technology to guide users through selfie submissions, ensuring high-quality images for accurate downstream identity verification, making it suitable for sectors with strict security needs.

–

October 28, 2024 – by the ID Tech Editorial Team