As Standard Bank continues to add more features to its OneHub platform aimed at corporate and enterprise customers, the financial institution has announced a new partnership with iiDENTIFii.
This partnership will see corporate customers given the ability to biometrically identify and verify the individuals they are doing business with via OneHub. With identity fraud being one of the fastest growing crimes globally and often going undetected until it is too late, this new feature will likely prove useful for enterprises that place an emphasis on verification in order to facilitate their business.
“It is essential that we meet our clients’ needs and provide them with secure systems that they can trust. iiDENTIFii’s strong track record and formidable reputation make them an ideal partner in servicing our clients,” notes Jonathan Lamb, head of Platform Business at Standard Bank regarding the partnership.
As part of its offerings, iiDENTIFii says it will make the following available via OneHub:
- “Complete frictionless customer on-boarding in under 30 seconds;
- Robust facial recognition and liveness detection;
- Authentication of identity documents;
- On-boarding fraud detection;
- A stand-alone application or a white labelled SDK; and
- Compliance with FICA, KYC, RICA and AML regulations.”
Further unpacking its technology, iiDENTIFii explains that it utilises an individual’s selfie and identity document for real-time verification.
“The selfie process ensures biometric liveness at the highest international standards defending against digital deepfake attacks. It ensures authentication of the right person, as a real person, through genuine presence. Facial recognition technology is used to verify that they match, whereafter the platform validates the result with the Department of Home Affairs, creating a biometric triangle of trust,” it adds.
For those corporates or enterprises interested in such a solution, iiDENTIFii is available on the Standard Bank OneHub web portal and will soon be added to the OneHub API for developers to integrate into their own solutions.
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