Virtual identification capabilities to corporates
Standard Bank Group has announced a new partnership with South African based technology company, iiDENTIFii, bringing virtual identification capabilities to corporates. Following the launch of the group’s OneHub platform, this partnership will enable corporate customers to biometrically identify and verify the individuals they are doing business with via OneHub.
Identity fraud is one of the fastest growing crimes globally and is especially dangerous as a ‘silent’ crime that can go undetected for a long period of time.
“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,” says Jonathan Lamb, head of Platform Business at Standard Bank.
iiDENTIFii is a world-leading digital identity solution company that delivers:
- 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
The iiDENTIFii biometric verification system empowers corporates to verify an individual’s identity in real-time. This can be done easily and efficiently using the individual’s real-time selfie and identity document. 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.
“As consumers and businesses continue to increase their use of digital channels, identity fraud is a key concern. According to the South African Fraud Prevention Service, identity theft in South Africa is up by 337% in 2021 from last year, which is why we’ve partnered with Standard Bank to ensure that robust systems are in place to protect their clients from fraud. Through a seamless authentication process, that takes less than 30 seconds, clients are able to ensure that their customer base is made up of genuine individuals rather than synthetic identities created by syndicates,” says Gur Geva, CEO of iiDENTIFii.
The OneHub platform is an online marketplace where Standard Bank clients can access digital solutions from Standard Bank and its trusted technology partners that can be used to streamline a client’s own processes.
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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Find out more about remote biometric verification (KYC) for seamless user onboarding.