Ideco aims for fraud-proof identity verification

Thursday 21 September 2017 13:01 CET | News

Biometrics and authentication company Ideco has announced the introduction of Identity-as-a-Service (IDaaS) and nuID mobile app ecosystem for fraud-proof identity verification.

The innovation will benefit large financial agencies requiring identity verification to secure banking services, the communications industry, healthcare, education and social protection.

The system works by capturing the credentials and biometric data of the consumer at the point of contact, then validating the data in real time using the Ideco IDaaS ecosystem. When full trust is established, it generates a seal of authenticity, which both verifies the customer identity and digitally signs the vendor documents in compliance with the Electronic Communications and Transactions Act.

According to Ideco, identity fraud currently costs South African organisations billions annually, and their services aim to boost the security for businesses and to remove the governance, risk and compliance challenges.

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Keywords: identity verification, Ideco, South Africa, Identity-as-a-Service, banking, nuID, identity fraud
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions