Veridas has posted strong results in a slew of biometric performance evaluations. The company is one of the few providers that has submitted both a face and a voice recognition algorithm for NIST testing, and it has also received separate ISO and iBeta approvals.
According to Veridas, those performances attest to the quality of its biometric solutions. The company’s facial recognition algorithm achieved a false positive rate of only 0.001 percent and a false negative rate of 2.86 percent in 1:1 NIST testing, and false positive and false negative rates of one percent and 1.4 percent, respectively, in the 1:N category. The 1:1 test measures a solution’s ability to match two pictures of the same person, while the 1:N test gauges its ability to find a match in a larger database of 1.6 million individuals.
Veridas is still awaiting the results of the NIST’s 1:1 voice recognition test. However, the facial recognition solution has completed Level 1 of the iBeta Presentation Attack Detection program, which measures liveness detection. In that regard, Veridas was able to spot all 1,800 of iBeta’s spoofing attempts to post an Attack Presentation Classification Error Rate of zero percent.
Finally, Veridas has been granted ISO 27.001 certification, which indicates that the company is able to protect the privacy and personal information of people registered in its systems. ISO-certified solutions are compliant with the latest GDPR regulations, and (potentially) with future regulations like the new Artificial Intelligence Act the European Commission proposed in April.
BBVA is currently using Veridas’ facial recognition technology to verify the identities of new customers during the onboarding process. Veridas itself was launched in 2017 as a joint venture between BBVA and das-Nano, both of which increased their level of investment in November and injected an additional €4 million to drive the future expansion company.
May 25, 2021 – by Eric Weiss