Vendor Ticker: Selfie IDV, authID’s Stock Sale, and an ABIS Upgrade

Selfie-based identity verification is a major theme in today’s roundup of biometrics vendor announcements, which also features a big funding raise from authID, an industry award for a voice recognition system, and an ABIS upgrade:

iDenfy Partners with Online Gaming Operator BetHub

iDenfy has partnered with BetHub, an online gaming operator in Bulgaria, to improve ID verification and KYC compliance. The collaboration aims to protect BetHub from duplicate accounts and underage gamers. BetHub offers online sports events and casino games and faced challenges with suspicious new users and time-consuming registration processes. The company integrated iDenfy’s biometric ID verification solution, which extracts data from government-issued IDs and matches them against selfie checks.

Proptech Firm Launches Biometric IDV Solution

Yardi has launched ID Verify for Yardi Breeze Premier clients in the U.S. and Canada to address the rise in fraudulent applications in multifamily rentals. The technology uses biometrics to confirm applicant identities by requiring a selfie and a government-issued ID, enhancing fraud prevention and security. ID Verify integrates with ScreeningWorks Pro and Yardi Resident Screening to centralize screening and property data, providing property managers with better insights into prospective renters. This new solution aims to protect against bad debt and improve the quality of resident selection in the multifamily rental market.

Silicon Valley Startup Launches FIDO-based Authentication Solution

MojoAuth, based in San Francisco, has launched its Passkey authentication platform, providing a secure alternative to traditional passwords. This technology uses device-linked credentials and biometric verification to offer phishing-resistant, user-friendly logins. Built on the FIDO standard, Passkeys eliminate the need for complex passwords, enhancing online security. The platform features phishing-proof credentials, enhanced security through device and biometric verification, and a streamlined user experience with one-touch or facial recognition logins.

authID Anticipates $11M in Funding Through Registered Direct Offering

authID Inc., based in Denver, announced a definitive agreement with investors to sell 1,464,965 shares of its common stock through a registered direct offering. Priced at $7.50 per share, or $8.16 per share for directors, the offering is expected to generate approximately $11 million in gross proceeds. Closing is anticipated around June 27, 2024, pending customary conditions. The net proceeds will fund sales and operations expansion and the growth of the customer success team. Madison Global Partners, LLC acted as the sole placement agent for the offering.

Auraya Wins Accelerate RegTech Award for Voice Solution

Auraya Systems has been awarded the Social Impact of the Year Award at the Accelerate RegTech Global UK + Europe event in London for its contributions to voice biometric technology. Nick Brown, Managing Director EMEA, accepted the award on behalf of the company. The award recognizes Auraya’s development of technology to protect against identity theft and threats such as deepfakes and synthetic voice attacks. Auraya’s voice biometric solutions aim to safeguard digital identities, ensure privacy, and enhance digital security.

TOTM Upgrades ABIS

Singapore-based TOTM Technologies has upgraded its Automatic Biometrics Identification System, highlighting its speed and accuracy. In an announcement, CTO Bryan Glancey called the upgrade “a major milestone” and a testament to the company’s culture of innovation. TOTM’s wholly-owned subsidiary InterBio won new ABIS-related contracts from the Indonesian government earlier this year.

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June 26, 2024 – by the FindBiometrics Editorial Team