Selfie technology allows businesses to verify consumer identities quickly and accurately
Acuant, a global provider of identity verification solutions, announced today that it has teamed with Experian to integrate its new document verification solution into Experian’s fraud and identity platform, CrossCore™.
Acuant’s AssureID utilizes machine learning, as well as facial recognition technology via selfie, to quickly and accurately identify individuals using photo-based government-issued IDs such as a driver’s license or a passport.
This integration allows public sector institutions to extract biometric and alphanumeric data contained in each document and perform more than 50 unique security tests to detect fraudulent versions. The solution analyzes these data points and screens them against the industry’s largest identity document library.
“While technology is evolving to allow for more efficient transactions, it also allows for new exposure to fraud,” said Yossi Zekri, CEO of Acuant. “Businesses need to have a more aggressive approach to fraud prevention. Our collaboration with Experian helps modernize identity proofing and makes real-time verification a reality.”
Combining Acuant’s document verification with Experian’s breadth of identity risk analytics and verification tools allows public sector institutions to quickly comply with the June 2017 National Institute of Standards and Technology (NIST) Special Publication on Digital Identity Guidelines. Additionally, the solution enables public sector institutions to use multiple strategies to verify identities.
“We use data and advanced analytics to help businesses make informed decisions that quickly and easily recognize legitimate customers, while also detecting fraud,” said Steve Platt, Experian’s president of Decision Analytics and Data Quality. “By leveraging a combination of document verification, biometrics and identity verification, businesses can reduce the over-reliance on personally identifiable information for identity proofing and better align with NIST guidelines.”
Acuant is an identity verification platform that instantly reduces fraud while providing seamless customer experiences. Solutions include intelligent data capture and auto-fill software, identity document authentication, chip and ePassport authentication with PKI, facial recognition software and expert manual review of documents. Human assisted machine learning powers the largest ID library processing 196+ countries monthly and having completed more than 3 billion transactions worldwide.
Acuant mitigates risk and meets regulatory requirements such as KYC and AML, while protecting PII. Partners include start-ups, Fortune 500 and FTSE 350 organizations in all industries. For more information, please visit acuantcorp.com.
Source: Acuant Press Release