iDenfy adds face authentication to its ID verification arsenal in a major step forward against identity theft and account takeover.
Speed and convenience are two of the most desirable components of an onboarding experience. But in pursuit of it, many businesses forgo crucial elements of cybersecurity.
The Federal Trade Commission (FTC) estimates that each year, fraudsters steal at least nine million identities around the world. Once this data is breached, cybercriminals open many doors: from making purchases and wiring funds to selling the data on the Dark Web.
According to iDenfy, mitigating identity fraud in the digital world isn’t an easy task, as there’s a constant threat of account takeover when performing high-value transactions or changing sensitive account data.
To simplify the customer journey, the digital identity verification and fraud prevention company has designed a new facial recognition feature which leverages the reliable and unique biometric authentication data of the human face.
According to the official announcement, the customer can complete the process within three steps. First, they need to go through the standard identity verification using their face. Then, the customer performs simple head movements.
Lastly, after receiving the ID verification results, due to the aforementioned face authentication feature, the service will indicate whether the customer performing face authentication is the one who completed identity verification in the first place.
The company’s goal is to prevent fraud and simplify identity verification, which led it to create the face authentication feature. As said by iDenfy, the new service welcomes back the customers without them having to go through the full, lengthy identity verification process.
“Instead of passwords that are difficult to remember, customers can be onboarded easier using our new facial recognition technology,” explains the company’s CEO Domantas Ciulde.
“Our module can be integrated into any onboarding flow within a few hours. We also customise our solution to match brand guidelines and make it more familiar for the customers.”
