Biometrics integrations, identity intelligence improve financial services onboarding

Major integrations for Fourthline and BioCatch are expanding the reach of their biometric user onboarding and KYC technologies, as financial service providers try to stay ahead of emerging fraud threats. ID-Pal will provide its digital identity verification capabilities to regulatory compliance consultants, and Plaid has used machine learning to build new deepfake biometric and synthetic ID detection models to spot fraudulent onboarding attempts.

On the customer experience side of account opening, Prove’s new pre-fill software has helped speed up 400 million transactions, and Socure has launched a pre-fill tool that integrates with its identity graph.

Big fintech partnerships for Fourthline, BioCatch

Fourthline has been chosen as a strategic partner by one of Europe’s biggest names in fintech, expanding its list of partners in a significant coup for the KYC and digital identity verification company.

Revolut is one of Europe’s fastest-growing fintech and digital banking companies, reaching 50 million customers globally in 2024. The UK-based firm has ambitious growth plans and required a partner capable of supporting rapid scaling.

“Our exponential growth across multiple markets demands a compliance partner that can keep pace with our expansion, while maintaining the seamless user experience our customers expect,” said Alberto Riveroll Usabiaga, head of retail onboarding at Revolut.

Fourthline had initially assisted Revolut with customer onboarding processes across the UK and the European Union, with a view to supporting other markets in the future. Fourthline’s technology includes biometric analysis, active liveness detection and document verification, with a proprietary AI.

Usabiaga said that following a rigorous selection process Fourthline was chosen for Revolut’s next phase of growth since it demonstrated “impressive technological capabilities” with a “proven track record of working with fast growing partners.” Revolut will integrate Fourthline’s verification technology through a single API.

Krik Gunning, co-founder and CEO of Fourthline, commented that winning Revolut’s Request for Proposal represents a “significant milestone” in the company’s journey. “As financial regulations continue to evolve differently across global markets, our technology provides forward-thinking institutions like Revolut with the adaptability and security they need to scale confidently,” he said.

Fourthline also added German fintech Riverty as a partner recently, providing its biometric-based customer digital identity verification for onboarding customers in Germany and the Netherlands. The Amsterdam-based KYC and AML provider offers a modular platform of identity verification and compliance tools.

Financial crime preventer BioCatch is partnering with identity and fraud prevention platform provider Alloy. The deal allows Alloy to fully integrate BioCatch’s end-to-end account opening solution into its platform. BioCatch fights fraud with technology that recognizes patterns in human behavior.

“In a world where AI has made financial fraud more scalable than ever, behavioral intelligence tools are essential for separating genuine customers from bad actors,” said Brian Bender, Alloy GM of Partner Solutions. “Our integration with BioCatch will give Alloy’s clients another tool in their arsenal for fighting digital fraud in this challenging environment.”

BioCatch deploys a machine learning model that recognizes human behavior from anonymized data points such as keystroke and mouse activity, touchscreen behavior and physical device attributes as people interact with their digital banking platforms.

Alloy also partnered with Blend Labs Inc. recently with customers of the origination platform for digital banking solutions now able to access Alloy’s identity and fraud prevention capabilities in their consumer banking products.

ID-Pal to deliver streamlined approach with Albany Beck

ID-Pal is joining forces with Albany Beck, a financial services consultancy, to package digital identity verification tools with professional know-how.

The collaboration will bring together Albany Beck’s AML/KYC Academy and ID-Pal’s identity verification and AML screening solution to deliver a “more powerful, streamlined approach” to AML and KYC compliance, according to a statement.

“Our partnership with ID-Pal marks a significant step forward in enhancing KYC/AML programs,” says Emer McPartland, partner head of AML KYC at Albany Beck. “By combining our training and development expertise with ID-Pal’s advanced technology, we can deliver unparalleled value to our clients, providing experts who will continue to deliver immediate impact, protecting the firms we work with and their end customers.”

James O’Toole, chief business office at ID-Pal, commented that the collaboration allows them to offer a “holistic solution” and that Albany Beck’s resourcing of AML/KYC programs complements their technology “perfectly.”

Plaid employs machine learning to counter GenAI

Generative AI is an ever evolving threat for identity verification systems, which means systems have to evolve too. Plaid is deploying new deepfake biometric and synthetic ID detection models for its digital identity verification during both liveness and document checks.

Plaid says it has added multiple layers of security to liveness and document verification, including stricter checks for document tampering and forgery, improved selfie-to-ID photo matching, and dynamic liveness detection that resists spoofing attempts like printed photos or screen recordings.

Another addition is Plaid’s Facial Duplicate Detection, which will catalog faces and identify potential duplicates across both selfies and document portraits. The company boasts that it has an “industry-leading” false match rate of just 1 in 1 million.

There is a new biometric tool that estimates a user’s age during the liveness session, looking for major discrepancies between a user’s stated age, their ID document photo and their selfie, and checking for potential identity misuse or impersonation.

These enhancements, and more, are available to all Plaid Identity Verification customers “out of the box,” the company said, with no further integration required. Plaid recently raised $575 million in its latest funding.

Prove and Socure announce new pre-fill advancements

Prove celebrated that it has surpassed 400 million pre-fill transactions across 150 million users. The company said it has seen strong and accelerating adoption across financial services and gaming, while recognizing that the market calls for continuous innovation.

Prove is advancing the latest version of Prove Pre-Fill this spring. The new release will eliminate all manual data entry while strengthening real-time authentication linked to device and phone possession, it said. This means consumers can easily share personal data by proving they control their mobile device during transactions and removes the need for user challenges such as date of birth or full or partial national ID numbers.

“Signing up for a credit card, bank deposit account, or gaming app should be easy for the right person and impossible for a fraudster,” said Rodger Desai, founder and CEO of Prove Identity. “Our latest technology advances the market toward a new standard.”

Socure has launched its Advanced Pre-Fill which promises to leverage the company’s proprietary identity graph. This identity graph helps to detect synthetic identities, stop injection attacks, and accurately determines device ownership with “dramatically lower collision rates,” according to the company.

Socure’s Advanced Pre-Fill requires minimal input from users and achieves a 91 percent match rate, the company claims, and taps into many different signals such as phone and carrier data, device information, graph intelligence and more.

Johnny Ayers, founder and CEO Socure, commented: “After fielding extensive inbound demand, we’ve combined our market-leading identity graph with real-time AI-powered intelligence via RiskOS to not only increase conversions but also increase accuracy and reduce fraud risks — all in one seamless, fully automated pre-fill workflow.”

Socure’s Advanced Pre-Fill is available via client-side and server-side SDKs and APIs.

Article Topics

Alloy  |  BioCatch  |  biometrics  |  digital identity  |  financial services  |  fintech  |  Fourthline  |  ID-Pal  |  identity verification  |  onboarding  |  Plaid  |  Prove  |  Socure