BAXE launches DeFi ecosystem with facial authentication

Wednesday 9 February 2022 14:49 CET | News

Australia-based fintech startup BAXE has partnered with France-based tech company IDEMIA and startup Haventec to launch a DeFi ecosystem with facial authentication.

It aims to assist BAXE users in authenticating high-value transactions, recovering access lost due to forgotten passwords, and activating locked accounts through biometrics. Haventec’s Authenticate Platform and IDEMIA’s Identity Management solution gets integrated into BAXE’s decentralised digital ecosystem to ensure that user data, digital assets, and communications are secured and private.

It provides Identity lifecycle management, data deduplication, ID document database storage, case management for manual adjudication, biometric database storage, and ID orchestrator for workflow management. Customers can connect, hold assets, make payments, and participate in ecommerce using Baxe’s ecosystem of applications for DeFi blockchain network, which is built for personal protection and privacy.

Haventec’s Authenticate platform offers two-factor authentication with selfie biometrics. Biometric technology is used in the solution to maintain security while also increasing ease. Idemia’s Identity Management platform is connected with Haventec’s platform to support the biometric authentication solution, allowing Baxe users to re-identify more quickly. Baxe plans to use the platforms to create, store, and safely maintain consumer digital IDs. 

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Keywords: partnership, facial recognition, DeFi, biometric authentication
Categories: Fraud & Financial Crime
Companies: BAXE, Idemia
Countries: World
This article is part of category

Fraud & Financial Crime




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