IdentityMind Global and Confirm.io Partner to Strengthen Identity Document Verification in RegTech
IdentityMind Global and Confirm.io, today announced a partnership that combines IdentityMind’s risk management and compliance platform with Confirm’s ID authentication APIs and SDKs. The partnership exclusively offers Confirm’s advanced document authentication technologies for US driver’s licenses and IDs within IdentityMind’s RegTech platform.
Javelin Strategy and Research’s “2017 Identity Fraud Study”, found that $16 billion was stolen from 15.4 million U.S. consumers in 2016, up from $15.3 billion the prior year and amounting to $107 billion over the past six years.
The partnership strengthens regulatory and compliance automation with fully integrated, real-time mobile identity authentication services in support of Know Your Customer (KYC), Sanctions and PEP screening and Fraud Prevention. For instance, account opening and customer onboarding processes require verification that the information being presented is real and can be used by the entity providing it. Confirm.io enhances IdentityMind’s Platform coverage of identity document validation, and specifically with Confirm.io’s strong support for US state driver’s licenses and state identification.
“Trusted Digital Identities requires strong validation of the underlying identity attributes,” said Garrett Gafke, CEO of IdentityMind Global. “Confirm.io provides best in class identity document validation for the United States, especially for the very difficult to validate state IDs that are very common with our Millennial generation. The Confirm.io partnership also delivers on the promise of a frictionless user experience that provides the ability to understand and guard against risk while also keeping customers happy.”
Confirm.io enables secure transactions between businesses and consumers by authenticating Government issued ID documents with easy-to-use mobile SDKs and RESTful APIs. Through remote identity proofing, its solution aids customers in solving the ‘Know Your Customer’ problem that exists in highly regulated industries such as banking, insurance, and healthcare.
“Confirm’s ability to tie credible data to a trusted document at account origination strengthens downstream authentication checks and services. This adds tremendous value to any KYC process requiring remote identity proofing,” said Confirm’s CEO and co-founder, Bob Geiman. “The partnership provides IdentityMind Global with fast and accurate identity document data for it’s RegTech platform.”
Confirm provides APIs and SDKs that help organizations rapidly validate customer identity from a driver’s license or ID. The solutions utilize proprietary machine learning and computer vision technologies to conveniently and accurately capture, extract, classify and authenticate consumer identity document data for downstream authentication.
About IdentityMind Global
IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS Platform for online risk management and compliance automation. IdentityMind continuously validates and risk scores online identities worldwide through its eDNA to ensure global business safety and compliance at customer onboarding and throughout their lifecycle. It securely tracks the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods, etc.) to build payment reputations, and allows companies to identity and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. The Identity Bureau is a registered trademark of IdentityMind Global.
For more information, visit: http://www.identitymindglobal.com