Global
Identity verification and management firm AU10TIX has launched a new Know Your Business (KYB) solution. By combining KYB with Know Your Customer (KYC) processes, the company said the offering “addresses every KYB business need, from sole traders to corporates, including KYC for UBOs and associated entities.”
AU10TIX’s unified KYB and KYC solution provides a check against 200+ jurisdictions and more than 1000 government registries in one automated workflow. It said its checks take seconds, compared to other vendors that “require days and rely on unofficial and potentially outdated databases.” The solution also provides full profiling and continuous monitoring, ensuring business integrity for compliance and risk management.
Ireland / United States
Irish compliance-focused ID verification company ID-Pal has clocked up several new customers in the United States.
The Dublin-headquartered SaaS firm has secured partnerships with financial service providers including Spirit of Alaska Credit Union and the CreditSnap lending and deposit account platform. ID-Pal promises minimal friction in its identity verification process for AML and KYC compliance, while providing “a robust audit trail.”
It has been less than a year since ID-Pal launched in the U.S. and secured a Series A funding round for its off-the-shelf KYB, KYC and AML digital identity software based on selfie biometrics. Its network of strategic partners now includes Salesforce, Corporate One and Melissa, and mining a market stream that now represents 15 percent of ID-Pal’s revenue – fully half of the 30 percent generated in the UK.
Brazil
Prove Identity has announced its partnership with TargetData in order to continue its expansion in Brazil. The partnership is expected to enable larger companies to access Prove’s digital identity verification and authentication services.
At the same time, the alliance is set to optimise the security of digital transactions for Brazilian clients, while also optimising the customer experience and making interactions easier, more frictionless, and more secure. This process is expected to enable the improvement of the national security ecosystem, in terms of reliability, as well as real-time verification of multiple transactions carried out every second by the clients in the digital universe.
Switzerland
Switzerland is looking for a provider to supply a product for the online verification of the identity of people applying for the state e-ID envisaged in the draft e-ID Act. The provider should be able to supply a proven software module for the automated verification of a person’s identity and provide support with integrating the module into the overall system.
The full tender documentation can only be obtained after signing a confidentiality agreement. Interested companies have 60 days to submit their bids.
Turkey
Fingerprint Cards AB has announced a distribution agreement with Ansal Component, a global provider of component supply services based in Turkey. The partnership supports and simplifies the region’s development of secure devices that integrate advanced fingerprint sensor and software technologies.
Fingerprints’ biometric access solution is specifically designed for physical and logical access devices and applications such as smart locks, FIDO tokens, crypto wallets and more.
Kenya
The Kenyan High Court has removed the injunction barring the government from issuing new digital identity cards.
Following an application filed by Katiba Institute, the courts froze the issuance of ID cards, also known as Maisha Numbers, in December of last year. Katiba Institute voiced concerns about the safety of collected personal information, its assessment and processing, and public engagement.
However, High Court Judge John Chigiti overruled the earlier order and instructed that the case be sent to the constitutional human rights division for hearing and determination.
Following the removal of the injunction, Bitok stated that the government will now hasten the issuance of new cards. He said around 60,000 Kenyans had already applied for the ID cards.
South Sudan
The government of South Sudan is preparing to implement a biometric registry for its civil service payroll, with support from the World Bank, which views the effort as key to transparency reforms laid out in a 2018 peace deal that was meant to bring about the end to a civil war that started in 2013. The biometric payroll project will be implemented over a period of four years at a projected cost of $34 million, with the World Bank offering financial support. South Sudan’s Minister of Public Service and Human Resource Development, Dak Duop Bickiok, said the primary aim of the system is to eliminate fraud.
United Kingdom
The UK Information Commissioner’s Office (ICO) has warned community and fitness center operator Serco Leisure that facial recognition and fingerprint biometrics cannot be used to monitor employees’ time and attendance.
The regulator posted a notice of its warning to Serco “and seven associated leisure trusts,” stating that the use of biometrics was not proportionate, and no alternative method was offered. They must end the practice and delete the biometric data collected within three months, reported Biometric Update.
Serco used biometrics to track the time and attendance of more than 2,000 employees at 38 facilities for multiple years.
“This action serves to put industry on notice that biometric technologies cannot be deployed lightly. We will intervene and demand accountability, and evidence that they are proportional to the problem organisations are seeking to solve,” says Information Commissioner John Edwards.
“Our latest guidance is clear that organisations must mitigate any potential risks that come with using biometric data, such as errors identifying people accurately and bias if a system detects some physical characteristics better than others.”
Spain
The Veridas Nexus digital wallet has been launched to enable organizations manage identities both physically and online.
The firm says the wallet, which is universally accessible, will address the need to unify identification systems across physical and digital settings to streamline and enhance user experience.
It is said to be the first operational digital wallet in Spain that will simplify the way citizens interact with the administration.
The wallet, which grants users full control over their data, complies with the European Union GDPR framework, and the Artificial Intelligence Regulation.
Veridas says its Nexus wallet will, among other things, improve user-entity relations, open up new business opportunities, ensure personal data sovereignty, and universal accessibility.
United Kingdom
Signicat, a provider of verified digital identity solutions in the regulated financial services industry, has teamed up with the International Compliance Association (ICA) to evaluate future challenges for orchestration, digital identity, fraud, and compliance.
According to reports, insurance fraud and the cost of its prevention is on the rise. In 2023, cybercrime alone cost the global economy US$8 trillion, which is predicted to rise 15 percent each year over the next three years. Meanwhile, fraud detection and prevention cost $63 billion worldwide in 2023.
United States
Provider of AI-powered decision intelligence solutions BigBear.ai has completed its acquisition of Pangiam Intermediate Holdings, a specialist in the global trade, travel, and digital identity industries. The move accelerates and evolves BigBear.ai’s mission to create clarity for the world’s most complex decisions in three markets: national security, supply chain management, and digital identity.
The combined entity will create one of the industry’s a Vision AI portfolio combining facial recognition, image-based anomaly detection and advanced biometrics with BigBear.ai’s computer vision and predictive analytics capabilities.
