The new offering allows financial institutions and payments organizations to improve identity verification success rates by leveraging the largest and fastest growing biometric data set in the world

Obsecure, a cybersecurity company that leverages privacy-preserving face biometrics to provide the identity trust backbone of next-generation digital experiences, is officially launching its new identity verification solution at Finovate Europe.

“Using a selfie to bridge the digital divide and ensure the true customer is present is a great step forward in the fight against criminals,” says Co-founder and CEO Erez Zohar. “However, asking the customer to also present their government ID is not as straightforward as people have hoped for. Some people don’t have their ID present with them at time of onboarding, others might have old, scrappy or otherwise not supported IDs, and in certain demographics and age groups many don’t have government IDs at all. We see companies experiencing unacceptably low success rates in this business-critical flow of account opening.”

Obsecure’s CyberPrint™ technology augments the identity verification process by validating customers’ identities directly from their application information and selfie, without the need for an identity document. CyberPrint™ provides a fully automated process for global identity verification based on publicly available internet data. By leveraging a novel source of identity data, the system achieves broad coverage and high accuracy while ensuring total privacy and security. The technology seamlessly integrates with any existing ID verification system and requires no changes to the existing user flow and experience.

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“The hardest part is how to keep it private,” Will Herlands, Obsecure Co-founder and CTO explains. “CyberPrint™ only uses publicly available information, upon explicit consent of the user, and we never store any images or biometrics at all. Furthermore, unlike law enforcement technologies, we’re not sleuthing to figure out who a customer is, we’re simply verifying that they are who they say they are in an account opening application or similar situation.”

“The adoption of biometrics is no longer a question,” says Mr. Zohar. “The dramatic shift to digital over the past year has precipitated the use of face biometrics for verifying customers remotely across a slew of industries. And as adoption of these solutions has increased, so has demand for higher success rates of selfie-based identity verification.”