iDenfy Launches Advanced Face Auth for Boosted Security

"iDenfy, a Lithuania-based RegTech solutions provider, has launched a new Face Authentication service designed to detect fraudulent biometrics and add extra protection to online platforms. The service enables online platforms to create a more secure network by flagging suspicious activities in real time, helping to prevent fraud at every stage of the customer journey.

  The Face Authentication service offers a seamless user experience by verifying identities in a matter of seconds. This innovative solution is set to transform the onboarding process, enabling businesses to onboard new customers quickly and securely. With verification times of up to 15 seconds, this service is not only efficient but also ensures a high level of security, making it an essential tool for businesses that prioritize compliance and user experience.

  Using iDenfy's advanced facial recognition technology, the customer's live face is automatically analyzed and matched to the photo on their ID document, authenticating and confirming they are indeed the person they claim to be. The fully automated solution works by comparing the customer's live face with a reference image, which involves AI-driven information extraction by reading the data from the customer's ID document.

  According to Domantas Ciulde, the CEO of iDenfy, the Face Authentication process relies on biometric technology and offers a more efficient, simple, and user-friendly way to confirm a user's identity compared to traditional methods. If the user can't pass their authentication, the company can instantly take the necessary steps to avoid dealing with a potentially fraudulent customer.

 One of the key features of iDenfy's Face Authentication is its face-matching capability. After successfully onboarding a new customer, businesses can use this feature to re-verify the customer's identity at any point in the customer lifecycle. This ongoing due diligence process is crucial to ensure that businesses continue to meet Know Your Customer (KYC) regulatory requirements.

  The Face Authentication solution also helps companies keep records of up-to-date customer data, especially when it comes to high-risk customers who need to undergo Enhanced Due Diligence (EDD). According to iDenfy, its new solution accurately assesses the potential risks associated with the customer's activities.

  The new Face Authentication tool has built-in active liveness checks to ensure that the person who's being verified is real, and not a fraudster trying to trick the system. Through a swift integration process, companies can see a positive impact immediately, which results in better user conversion rates.

  The service provides businesses with the insights they need to make informed decisions. The updated dashboard now offers details like match ratio, failure reasons, passive liveness probability, and more. This comprehensive data allows compliance officers to see all results in one place, monitor and analyze ongoing verification sessions, and ensure that all security measures are as effective as possible.

  iDenfy's face authentication service is positioned to be an indispensable tool for businesses across various industries. As regulations evolve and the need for secure, efficient identity verification grows, this service offers a comprehensive solution that meets the demands of today's fast-paced digital environment.

  With the launch of its Face Authentication service, iDenfy is committed to providing its clients with simple and fully automated RegTech tools to enhance security, streamline operations, and meet regulatory requirements. The company's goal is to make the onboarding process as seamless as possible while ensuring that businesses can trust the identities of their platform users.

  About iDenfy 

  iDenfy is a Lithuania-based RegTech solutions provider that offers a variety of KYC tools to help businesses comply with regulatory requirements. The company's solutions are designed to provide a seamless user experience while ensuring the highest level of security and compliance.

  Keywords  face authentication, biometric technology, identity verification, RegTech, KYC, compliance, security, online platforms, fraud prevention

"Q: What is Face Authentication?

A: Face Authentication is a service that uses advanced facial recognition technology to verify a user's identity by comparing their live face with a reference image.

Q: How does Face Authentication work?

A: The Face Authentication service works by analyzing the customer's live face and matching it to the photo on their ID document, using AI-driven information extraction.

Q: What are the benefits of Face Authentication?

A: The benefits of Face Authentication include enhanced security, improved user experience, and increased efficiency in the onboarding process.

Q: How does Face Authentication help with compliance?

A: Face Authentication helps businesses meet Know Your Customer (KYC) regulatory requirements by providing a secure and efficient way to verify user identities.

Q: What is the face-matching capability of Face Authentication?

A: The face-matching capability of Face Authentication allows businesses to re-verify a customer's identity at any point in the customer lifecycle."