Cryptocurrency product provider Blockchain selected Estonian startup Veriff to perform online identity verification services with its facial and behavioral biometric technology, according to ERR.ee.
Meanwhile, Onfido will participate in the last round of tests on the regulatory sandbox of the Financial Conduct Authority (FCA) of the United Kingdom, along with Fintechs Monese, Seedrs, Curve and B-Social. The company states that it will take the opportunity to pursue the goal of enabling people to quickly and simply demonstrate their legal online identity to access products and services without re-checking each time, according to the announcement.
At the beginning of this year, Onfido joined a cross-border regulatory sandbox managed by the Global Financial Innovation Network (GFIN).
Veriff offers document verification based on artificial intelligence, facial recognition with control of proprietary vibrancy, device fingerprints and behavioral biometrics to verify users. Blockchain started testing the Veriff service at the beginning of this year and has already used it to verify the identity of millions of customers and prevent scammers from using its platform, according to ;ad.
"It is a great compliment to the Veriff team for Blockchain to choose us as a partner for identity verification services, mainly because their highly professional team has worked with several verification service providers," says Kaarel Kotkas, founder and CEO of Veriff. "The verification of identity on a global scale is not an easy undertaking, but through this partnership we will continue to establish and advance the standards for transparency and fraud protection in cryptocurrencies."
Blockchain has raised over $ 70 million from a number of major investors, including Light Speed Ventures and Google Ventures. Veriff raised $ 7.35 million from investors including Y-Combinator and Mosaic Ventures, and claims to be able to evaluate more than 3,000 types of ID documents from 190 jurisdictions.
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behavioral | biometrics | digital identity | facial recognition | fintech | verification of identity | KYC | Onfido | Veriff