AU10TIX, Microsoft partner on decentralised verifiable credentials

Tuesday 28 March 2023 14:28 CET | News

Identity verification company AU10TIX has announced a partnership with Microsoft on Reusable ID, a new approach in verifiable credentials (VC) architecture for identity management.


As per the information detailed in the press release, AU10TIX’s Reusable ID leverages Microsoft Entra Verified ID and is believed to help bring forth an age of strong credential tokens for lifetime re-verification of both enterprises and users on a global scale, in a cost-effective manner.

Verifiable credentials, Reusable IDs, and collaboration details

VCs are reusable, unalterable digital credentials that help prove the identity of a person or entity and enable the safe sharing of personal documents and biometric credentials. What is more, VC architecture provides users with the ‘self-sovereignty’ to share the correct information on-demand for activities such as opening an account, applying to college, and paying taxes, amongst others.

AU10TIX’s forensic-level document and biometric verification technology together with its Instinct identity monitoring tools for synthetic fraud help provide strong verification, encrypted as verifiable credentials assets. Additionally, Reusable ID enables enterprises to simplify and expedite ongoing ID verification, reduce customer onboarding expenses, automate workflows, and improve the security of sensitive data. Furthermore, it lets users store their information locally in a ‘tamper-proof’ digital wallet and make the decision on what to disclose to third parties.

Identity verification company AU10TIX has announced a partnership with Microsoft on Reusable ID, a new approach in verifiable credentials architecture for identity management.

Commenting on the announcement, Dan Yerushalmi, CEO at AU10TIX advised that compliance costs, privacy concerns, data liability, and increasing synthetic fraud highlight that traditional identity management has brought forth complexities for individuals and organisations alike. Having this knowledge as its core, the company believes verifiable credentials provide businesses and individuals with peace of mind in relation to who holds and controls the keys to their personal data.

The press release further details that Microsoft Entra Verified ID enables the solution, which leverages AU10TIX’s experience in identity intelligence of 25 years. Reusable ID helps businesses simplify an extensive range of identity verification use cases across verticals of the likes of finance, healthcare, education, hospitality, telecom, entertainment, and others. The applications of the solution include fraud detection, KYC reuse, money transfers, legal identities, user verification, and insurance claims, amongst others.

Furthermore, the collaboration builds on the April 2021 partnership that enabled the rollout of Microsoft Azure Active Directory verifiable credentials and brought AU10TIX's identity verification automation to the Microsoft ecosystem. As per the press release, AU10TIX is a Microsoft Verified ID credentials issuer and verification partner, helping manage identities with a basis in attributes like documents, biometrics, and electronic data.

Adding on the announcement, Deepak Marda, Senior Product Manager at Microsoft advised that Microsoft aims to include the Reusable ID technology within its third-party onboarding flow, looking to simplify repeated validation of user identity verification at critical steps, while simultaneously preventing fraudulent activity and ensuring regulatory compliance. As per their statement, decentralised ID verification is seen as a ‘key imperative’ in the digital world, and AU10TIX’s solution is believed to help increase security while reducing friction within the online ID verification process.

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Keywords: partnership, fraud management, identity verification, identity fraud, digital identity, synthetic identity, reusable ID, compliance, biometrics, data protection, data sharing, encryption, cybersecurity, KYC, insurance, money transfer, fintech, digital wallet, digital onboarding
Categories: Fraud & Financial Crime
Companies: Au10tix, Microsoft
Countries: World
This article is part of category

Fraud & Financial Crime




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