Veriff has released an updated version of its Face Match identity verification offering. Face Match debuted almost exactly a year ago, and is designed primarily for the authentication of registered users, rather than new user onboarding.
The enhanced version of Face Match will streamline that authentication process to deliver a better (and faster) experience for end users. It will also help organizations protect their assets and mitigate the threat of account takeover attacks and other forms of fraud. To that end, organizations can integrate Face Match into their workflows to request biometric authentication in certain suspicious or high-risk situations, such as a large financial transaction or a new login from an unexpected region. The use of biometrics ensures that the person performing the action is in fact authorized to do so and is the true owner of the account.
With Face Match, users are asked to submit a selfie whenever they need to prove their identity. Face Match compares that selfie to an image already on file, using facial recognition to make sure both pictures depict the same person. Users only need to go through the set-up process once to register their biometrics, and the use of facial biometrics will ensure that any credential reset requests come from the account holder, and not from a potential fraudster.
Veriff noted that the demand for smoother authentication and Know Your Customer solutions has increased in virtually every sector now that more business is taking place online. However, the company believes that Face Match will be particularly appealing to cryptocurrency providers.
“We are ready to launch a continuous authentication Face Match product that represents another step in the identity workflow,” said Veriff Founder and CEO Kaarel Kotkas. “It enables biometrics to secure accounts throughout their whole lifetime making account takeover fraud history.”
April 8, 2022 – by Eric Weiss