iProov chosen by Paxful for biometric verifications

Friday 8 July 2022 12:28 CET | News

US-based fintech platform Paxful has tapped IProov to employ biometric verification tech for remote transactions.

Following the beginning of the partnership, customers will be able to verify their identity by registering using an ID document and a selfie. From that point onward, they will be able to access Paxful’s services via face recognition on their mobile devices.

The collaboration comes after Ignition-Innovation selected iProov’s face biometric authentication and liveness detection services to verify users of its TruMeID product in Trinidad & Tobago.

Good Finance has integrated CyberLink’s FaceMe artificial intelligence (AI) facial recognition engine into its application to provide remote financial services to its customers.

According to the company, the move will not only eliminate the hassle of having to visit a bank branch for identity verification, but also reduce the possibility of human error, making the whole process more secure.

From a technical standpoint, FaceMe uses AI technology to verify that the ID photo submitted by a user and the person in front of the camera are the same person. CyberLink recently released its face biometrics APIs for the ‘FaceMe Platform,’ to enable integration into a variety of systems.

CSGOEmpire, a Counter-Strike: Global Offensive (CSGO) computer game character skin gambling operator, has deployed Shufti Pro’s biometric verification technology to onboard new players onto its platform. More specifically, CSGOEmpire will now have access to Shufti Pro’s KYC and anti-money laundering (AML) identity verification (IDV) solutions.

The deployment reportedly took less than a month and allowed CSGOEmpire to migrate its KYC system with no impact on the user experience, while also reducing manual intervention in the KYC process.

The partnership is an indicative of a renewed interest of Shufti Pro in the gambling market and follows an award of two gambling-industry licenses in the United States in June 2022.

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Keywords: identity verification, digital identity, KYC, partnership, AML, biometrics
Categories: Fraud & Financial Crime
Companies: Iproov, Paxful
Countries: World
This article is part of category

Fraud & Financial Crime




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