YooniK Makes a Splash with Biometric Algorithm’s Strong NIST Performance

A new facial recognition start-up has made a statement with an extremely strong performance in the latest round of NIST testing. YooniK was founded in late 2019, and can now claim that its YooniK Face solution is one of the three most accurate solutions in Europe and the Americas.

The company accomplished the feat after reducing its solution’s false error rate by more than 50 percent in less than five months. The improved version of YooniK Face is 99.999 percent accurate, with a false rejection rate that is under 0.5 percent.

YooniK is hoping that those results will draw the interest of potential customers. The company has now announced the widespread availability of its algorithm, which is being offered as a plug-and-play SDK/API that can be integrated into virtually any security system. YooniK stated that its technology is compatible with a range of third-party cameras, platforms, and devices, and cannot be used to make a match in any context without prior authorization. The latter feature is designed to protect people’s privacy.

According to YooniK, its solution has potential applications in a number of different industries, including retail, healthcare, and finance. It can be used for onboarding and access control, with YooniK arguing that it will dramatically reduce the amount of time that gets wasted as a result of outdated identity verification practices.

“We believe YooniK will offer one year of free time across a person’s lifetime, which is currently wasted in inefficient bureaucracy for someone to check who you are,” said YooniK Co-Founder and CEO Pedro Torres.

YooniK is hoping to capture a portion of the $4 billion facial recognition market. MarketsandMarkets believes that the demand will climb to $8.5 billion by 2025, while Adroit Market Research has issued a more aggressive forecast that places the market at $12 billion in the same period. Reports and Data, on the other hand, expects it to hit $11.3 billion in 2026.

–

January 22, 2021 – by Eric Weiss

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us