Veridium, Wala to pilot digital banking model for biometric authentication

Thursday 16 November 2017 10:44 CET | News

Veridium has announced the partnership with Walla, to pilot a fully digital banking model that authenticates users with biometrics in sub-Saharan Africa.

Veridium’s technology enables the enrollment and authentication of customers remotely and securely, using biometrics. Wala’s platform will integrate Veridium’s proprietary biometric solution, 4 Fingers TouchlessID. Wala will also be using the VeridiumID platform to manage and store this sensitive data – a solution that uses a distributed data model to secure biometric templates.

This pilot is funded by a grant awarded to Veridium from the Digital Financial Services (DFS) Innovation Lab, to develop and field test biometric authentication technology on unmodified Android smartphones. Because Veridium’s biometric authentication technology is compatible with Android phone models up to 10 years old, it has the promise to bring this technology to developing countries as a method for accessing and enrolling in financial and government programs. In collaboration with microfinancing partners, Wala’s Android-based mobile platform sits between customers and banks, allowing them to sign up and transact through an app.

The pilot project will roll out in January 2018 and its findings will be presented to the Gates Foundation at a conference in February 2018.

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Keywords: Veridium, Wala, banking, Africa, biometric authentication, financial inclusion, unbanked, 4 Fingers TouchlessID
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions