Acuant has integrated its new document verification solution into Experian’s fraud and identity platform, CrossCore.
Acuant’s AssureID utilises machine learning, as well as facial recognition technology to quickly and accurately identify individuals using photo-based government-issued IDs such as a driver’s license or a passport.
Combining Acuant’s document verification with Experian’s identity risk analytics and verification tools allows public sector institutions to comply with the June 2017 National Institute of Standards and Technology (NIST) Special Publication on Digital Identity Guidelines.
The integration also 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. It analyses these data points and screens them against the industry’s largest identity document library.
“We use data and advanced analytics to help businesses make informed decisions that quickly and easily recognise 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 reduces fraud while providing seamless customer experiences according to is website.
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. It aim is to mitigate risk and meet regulatory requirements such as KYC and AML, while protecting PII.
“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 modernise identity proofing and makes real-time verification a reality.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
