ENACOMM will be able to provide financial institutions with better identity coverage on mobile channels thanks to a new partnership with IDmission. In that regard, the arrangement will add IDmimssion’s biometric onboarding and authentication solution to ENACOMM’s existing technology stack, and make that technology more readily available to ENACOMM customers.
IDmission’s onboarding solution uses facial recognition to match a selfie of the user to the image on a photo ID. The solution is able to remotely verify the authenticity of that identity document, and offers passive liveness detection to ensure that the user is present. In doing so, IDmission is able to prevent fraud and provide deduplication and multi-factor authentication services while delivering a more streamlined user experience.
The platform itself is also compliant with the latest Know Your Customer regulations. IDmission’s solution will supplement ENACOMM’s own Financial Suite, which includes conversational voice assistant and voice authentication technology designed to make call center operations safer and more efficient for financial institutions. The two companies are hoping that the joint offering will help financial institutions deal with the rising volume of remote activity in the wake of COVID-19.
“Remote, digital transactions skyrocketed amidst the pandemic, and so did fraud, making the need for fast, secure authentication of customers more important than ever,” said IDmission CEO Ashim Banerjee. “Biometric technology has become significantly more reliable in recent years, earning it an indispensable role in the Multi-Factor Authentication process.”
“ENACOMM’s ultimate goal is to provide our valued customers with a digital gateway that enables them to choose the best available technologies for meeting their needs, despite core platform and provider constraints,” added ENACOMM CEO Michael Boukadakis.
IDmission recently achieved ISO 27001 certification, and has previously provided biometric onboarding for the Baaz social media platform in the Middle East. Meanwhile, ENACOMM’s Financial Suite was listed on the Finastra FusionStore earlier this month.
May 31, 2021 – by Eric Weiss