Consumer credit specialist Equifax has launched a new document verification system that uses biometrics to confirm subjects’ identities.
Called Document Verifier, the solution uses a mobile camera or webcam to capture a video-based image of a given subject, and then compares that subject’s facial biometrics to those in her or his official documentation, such as driver license or passport. Built-in liveness detection ensures that the live scan of the user’s face isn’t a static image, helping to prevent fraud.
The system is based on technology from Paycasso and Jumio, with the latter having seen increasing interest in its Netverify KYC platform since it integrated facial recognition last autumn. Now, Equifax is seeking to leverage that technology to help prevent fraud and enhance the customer experience in applications like mortgage and credit card applications.
In a statement announcing the new feature, Equifax Head of ID and Fraud John Marsden said that recent research the company with YouGov indicated that “56% of people online would prefer to use biometric security measures to access their financial accounts,” suggesting that the company could see considerable enthusiasm in its Document Verifier.
March 30, 2017 – by Alex Perala