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IdentityMind works with Acuant to improve identity verification FINTECH

A new partnership between trusted digital identities innovator Identity Mind and identity verification specialist Acuant will manufacture the latter Acuant AssureID Identity solution available through the IdentityMind platform. The technology uses AI and human-assisted machine learning to identify more than 6,000 ID types in real-time for superior data validation and risk assessment.

"Acuant and IdentityMind agree that identity is the new currency in today's digital economy and needs to be protected," said Acuant President and CEO Yossi Zekri. "Our strength in identity validation during the onboarding and account creation process is the perfect combination of IdentityMind's ability to create a digital identity and monitor its use throughout the life of the user. This partnership enables trusted transactions that help businesses reduce fraud, comply with AML / KYC regulations, and deliver a better customer experience. "

Acuant AssureID, the company's flagship document authentication and identity verification software, extracts biometric and alphanumeric data from identity documents and submits them in real time to more than 50 forensic document-specific tests. The technology can be used for address and age verification, as well as to review the watch lists for Politically Exposed Persons (PEP) and the Office of Foreign Assets Control (OFAC). AssureID offers components like Acuant face, a seamless multi-factor authentication solution, as well Acuant Review, a professional, manual verification of ID documents.

"As part of our goal to create the most agnostic and accurate platform for trusted digital identities that takes compliance and risk into account, we have built a comprehensive technological ecosystem that pre-integrates the best solutions for a variety of use cases and regions." IdentityMind CEO Garrett Gafke said. "Acuant has a proven track record in identity verification as a white label solution for many industry-leading partners worldwide. We are pleased to offer their solution to our customer base. "

IdentityMind introduced its GDPR-enabled KYC plug-in at FinovateSpring 2018. The preconfigured, customizable technology helps financial service providers meet global KYC requirements and simplify compliance with GDPR. The solution provides critical reports that auditors and auditors rely on to evaluate both the company's regulatory processes and its customers' PII protection capabilities.

IdentityMind announced this last month promoted Cynthia Tham joins the company as Vice President of Engineering after more than six years. In August, the company reported that it had been excellent A new patent for digital identity-based automated policy review that helps better value risky data and better protect financial transactions. During the summer, IdentityMind announced partnerships with a number of companies, including a South Korea-based referral company Wirebarley, Latin American crypto-to-fiat exchange platform BITPointand US Blockchain trading platform Bittrex,

Headquartered in Palo Alto, California, IdentityMind has raised more than $ 21 million. Investors include Eastern Link Capital, Benhamou Global Ventures and Lakewood & Company.

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