Veratad’s Onboarding Tech Integrated Into Kernel Banking Platform

Kernel Edge Technologies has integrated Veratad’s identity verification tech into its own Bank Kernel solution. Bank Kernel is a Fintech Development Kit (FDK) that helps financial institutions bring new products to market more quickly.

To that end, the Bank Kernel provides financial institutions with all of the front and backend services they need to run a viable retail banking operation. That includes customer-facing web and mobile applications and digital wallets in addition to more conventional financial services like debit and credit cards and checking accounts. The FDK also comes with management software to help banks with their administrative needs.

The partnership with Veratad will boost the FDK’s identity verification capabilities, and help Kernel clients comply with international Know Your Customer and Anti-Money Laundering regulations. In that regard, Veratad offers biometric onboarding technology that matches a selfie to the image on a photo ID, as well as other multi-factor authentication tools like the Smart 2FA system that links a device to its true owner.

“Our mission is to provide fintech founders who may not have a technology team, nor a lot of money to spend, with solutions and guidance enabling them to build, launch and scale,” said Bank Kernel Business Development Head Nigel Reading.

“Veratad is thrilled to work with Bank Kernel on this revolutionary bank-in-a-box concept,” added Veratad CEO John Ahrens. “Digital identity verification is a must-have as the financial industry seeks to modernize onboarding and provide a smooth customer experience, and we are eager for our solutions to continue playing a part in that innovation.”

Veratad obtained ISO 27001 certification back in January, shortly after making its way onto the fourth annual RegTech 100 list at the tail end of 2020. The company was also a Gold Winner at the 2021 Cybersecurity Excellence Awards, and has agreed to provide KYC services for the GROUPIRA 3.0 project with GROUPIRA, INC. and Spectrum Pension Consultants.

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September 8, 2021 – by Eric Weiss

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