Compliance / KYC

Before performing any kind of financial transactions, most institutions are required to make (at least) a reasonable attempt to identify the other party. They gather as much information as possible, then verify that information against common data sources. Of course, many of those sources are the same ones that get breached and feed the very fraud they’re meant to prevent.

But again, those breaches mean that the parties requesting the transactions may not be the true owners of that information. The institution cannot say for certain that the other party is the actual party. This is where authID provides the ultimate proof of identity. By employing facial biometric verification, we determine that the other person on the end of the online interaction is who they claim to be. We match up physical ID and real-time portrait, helping the bank, credit card company, credit union, or other provider stay compliant with laws and regulations. authID can also validate the data gathered against secure data sources to further vet the entirety of that identity.

By empowering organizations with true proof of life (and data), authID aids in starving the fraudsters, and keeping cash out of the hands of criminals, terrorists, human traffickers, and others who fund their illicit activities through fraud.