iProov partners with Wultra

Wednesday 10 May 2023 13:52 CET | News

Czech Republic-based digital banking solution provider Wultra has partnered with iProov to offer banks and financial institutions biometric technology.

Wultra will be enabled to provide iProov’s biometric tools as part of its portfolio of digital banking products. The combined solutions will be offered to banks, financial institutions, and financial services technology providers in order for them to meet the needs, preferences, and demands of customers and clients. 

By leveraging their services, banks will be able to focus on evaluating efficient practices for balancing security and convenience, which are important regarding the overall end-user lifecycle. As fraud and online threats still represent an issue in the industry, financial institutions, companies, and banks are set to prioritise the process of remotely verifying the identity of customers, in a manner that prevents mid-process dropout while being easy to use as well. The solutions will be available for both internet and mobile applications.

Moreover, as the procedures of creating an account and rebinding are a big target of fraudsters, the companies prioritise increasing the security levels of their products. 


Czech Republic-based digital banking solution provider Wultra has partnered with iProov to offer banks and financial institutions biometric technology.

More details on the partnership

Throughout this collaboration, iProov proprietary facial biometric solution will be leveraged to offer Wulta the capability to verify that end users are the right client that made the account while checking if they are a real person as well, in real-time, securely and efficiently. Additionally, by assuring the liveness of an account, iProov will be able to mitigate AI-based attacks, such as deepfakes. 

The process is made possible with its proprietary science-based liveness technology, alongside the Security Operations Centre (iSOC), which provides active thread mitigation that is available 24 hours, 7 days a week.  

According to the press release, Raiffeisenbank (the Czech member of Raiffeisen Bank International) has already implemented the iProov’s biometric tools from Wultra, aiming to provide its users and cardholders with the ability to securely reactivate their bank account online, at any point in time, without the need to visit one of the physical branches of the bank or the need to use additional hardware.

iProov’s strategy for preventing fraud

The Biometric authentication provider iProov had multiple partnerships and product releases in the last couple of months, as part of its strategy to fight fraud and online threats. 

At the end of April 2023, iProov partnered with fraud automation platform Authsignal in order to provide fraud prevention tools across the US, Europe, and Asia Pacific. The collaboration aimed to protect clients and enterprises from fraud. Authsignal was set to incorporate iProov’s Biometric Solution Suite into its Orchestration Platform to further improve and develop its user authentication security protocols and overall tools. 

In February 2023, the company released a report that provided analyses and insights into the attack trends which were facing biometric systems. The Biometric Threat Intelligence Report revealed most of the recent attack trends on biometric systems, as well as information on how they can be prevented and mitigated. 

For more information about iProov, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: partnership, fraud management, fraud detection, fraud prevention, identity fraud, online fraud
Categories: Fraud & Financial Crime
Companies: Target, Wultra
Countries: Czech Republic
This article is part of category

Fraud & Financial Crime




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