Jumio has found another customer for its secure digital onboarding technology. The Filipino remittance provider I-Remit is deploying Jumio Identity Verification to safeguard its IREMITX digital channel, which allows I-Remit users to transfer money online without needing to pay a visit to a physical branch location. IREMITX is particularly popular with the 10 million Filipino…
LexisNexis Risk Solutions has released a new True Cost of Fraud report that details the growing impact of fraud on the American financial services and lending sector. The report found that every dollar lost to fraud costs financial services providers $3.25 in liability, recovery costs, and other expenses, a figure that is up from $2.92…
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FindBiometrics is reporting live from Las Vegas this week, where the biometrics and digital identity industries are converging on Money20/20 USA – the world’s preeminent financial services conference. On Tuesday, FindBiometrics President Peter O’Neill spoke with Javier Mira, the CEO of biometric authentication specialist FacePhi. The live interview begins with a discussion of Mira’s conversation…
“…just as younger consumers tend to show a higher preference for mobile banking, those in the 18-34 age range tend to prefer using the biometric authentication capabilities of those devices, whereas older survey respondents showed more of a preference for security questions.” Customers are increasingly accessing financial services on mobile devices, and providers need to…
Biometrics News – Fingerprint Recognition Fingerprint Cards has placed one of its sensors in a new payment device from JCB. The device will support “personal authentication applications” in addition to contactless payments. The presence of an FPC sensor suggests that people will be able to use the device itself to add an extra layer of…
Biometrics News – Fingerprint Recognition IDEMIA has unveiled a new FINRA fingerprint service that allows customers to meet the Financial Industry Regulatory Authority’s strict requirements for fingerprint background checks. While IDEMIA has previously provided custom FINRA solutions for Fortune 500 clients, the new service will be available at more than 500 IdentoGO locations across the…
Onfido’s document analysts have put together the company’s inaugural Global Fraud Index, which estimates that online identity fraud costs the economy a whopping $5 trillion every single year. Only one percent of that $5 trillion is ever recovered by authorities, making identity fraud one of the most pressing issues facing the financial industry. “Identity theft…
Parascript’s anti-fraud technology will now be available to South American banks thanks to a new partnership with Precodata, a company that provides printing and software solutions for financial organizations across the continent. The new deal specifically concerns Parascript’s SignatureXpert and CheckPlus International solutions, both of which will be offered to Precodata customers through the new…
NICE Actimize has added three more companies to its rapidly accelerating X-Sight Marketplace. The Marketplace was first unveiled back in July, and provides financial institutions with a roster of approved technology solutions that will reduce the threat of financial crime. After NICE Actimize’s latest announcement, that roster now includes Kingland, Daon, and Au10Tix. Au10Tix is…
Biometrics News – Financial Services Daon and Union Systems Limited (USL) have announced a strategic partnership that will bring Daon’s biometric authentication services via their IdentityX platform to USL’s customers throughout the African market. Daon is a pioneer in methods for secure and convenient cross-channel biometric authentication. Their history of deployments include payment verification, digital…
Money20/20 organizers have officially announced the return of their China-based event. First launched last year, Money20/20 China drew a crowd of over 2000 professionals from 53 countries. Now, organizers say that Money20/20 2019 will have capacity for more than 2500 people, and will feature over 300 speakers. Organizers have also revealed an ambitiously wide-ranging slate…
Biometrics News The Bank of Thailand (BoT) has announced that it is moving forward with a test of biometric Know Your Customer (KYC) technology. The test will involve ten separate organizations, including commercial banks and other non-bank financial institutions. The test itself will not begin until some unspecified technical issues have been resolved, although Bank…
Biometrics News – Behavioral Biometrics The Latin American credit bureau Círculo de Crédito is collaborating with Featurespace to bring the latter’s new anti-fraud platform to the Mexican market. Featurespace’s ARIC platform leverages behavioral biometrics to spot suspicious behavior, and is geared towards banks, credit card companies, and other financial services providers. ARIC is built with…
“Based on surveys of 3,500 adults across Finland, Germany, the Netherlands, Norway, the UK, and Sweden, Signicat’s report says that over half of all consumers are willing to go through an onboarding process that takes more than ten minutes.” Europeans have a lot of patience for financial services firms’ online onboarding processes, but not as…
A public bank in Taiwan is upgrading its security capabilities with edge AI facial recognition technology from Kneron. The agreement came about thanks to Kneron’s arrangement with its systems integration partner, Tung-I Information Service (TIIS). The deal specifically concerns Kneron’s Facial Recognition Solution, which will be deployed for attendance management and access control at the…
“… IDEMIA and Zwipe say that their solution will be distinguished by its relatively small number of components, with things like the Secure Element and the microcontroller all embedded in a single chip mounted on a flexible Printed Circuit Board.” IDEMIA and Zwipe have teamed up on a biometric payment card solution that they are…
The FIDO Alliance received considerable praise during last week’s House hearing on Identity in Financial Services. Speaking before the US House of Representatives Committee on Financial Services on behalf of the Better Identity Coalition, Venable LLP’s Jeremy Grant identified three main challenges facing modern financial institutions, and argued that FIDO standards offer potential solutions to…
Spain-based biometric authentication specialist FacePhi has received some significant financial backing from Nice & Green, a Swiss investment firm that offers investment capital to small and medium-sized listed companies. The latter has committed to delivering capital valued at 4 million euros through September of 2020. The backing will come in the form of warrants valued…
A former tech executive with some pretty substantial government experience is Daon‘s new President of Emerging Markets. In the tech world, John Sanders may be best known as a co-founder of Reveal Imaging Technologies, which he led as VP from 2003 to 2010. More recently, he served as CEO of Pramantha Solutions, a government-focused data…