By teaming up, iProov and TrustCloud intend to overall improve how organisations handle remote onboarding, account opening, and digital identity management. Merging their capabilities in biometric verification, post-quantum encryption, and secure digital wallets is set to allow the two companies to enable simplified and secure digital experiences for organisations operating in different industries, including financial services and healthcare.
Considering the current landscape, in which digital transactions become pervasive, the need for secure onboarding and identity verification solutions has substantially scaled. Despite once being deemed as a formality, the onboarding process is now a critical component in the fight against fraud, with organisations needing to balance between safeguarding their businesses and not creating more friction for customers.
With their collaboration, TrustCloud and iProov aim to support these organisations in mitigating cyber threats, meeting regulatory demands, and providing an optimised user experience. According to company officials, TrustCloud has experience in offering post-quantum encryption and secure custody of digital assets, in turn ensuring that agreements, contracts, and sensitive information are protected. By implementing iProov’s biometric verification, the collaboration is set to deliver increased levels of security that allow organisations to onboard new customers remotely.
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