Applied Recognition and Intellicheck today announced a new partnership that will see the companies incorporate one another’s technology into each partner’s respective product offerings, combining barcoded identity authentication with facial recognition.
According to the announcement, the combined technology solutions will heighten identity theft protection, curbing fraudsters’ ability to manipulate document, photo and video authentication to perpetrate financial and retail fraud.
“The combined technology solutions of two industry leading innovators set a new standard for identity authentication that is accurate, effective, and easy to adopt and to use,” explained Applied Recognition Co-CEO Ray Ganong. “We believe our advanced fraud protection solutions will reduce online account-opening fraud dramatically while simultaneously improving the user experience.”
The frictionless user experience will feature the user capturing the front and rear image of a barcoded photo ID and then a selfie, both taken using a mobile device’s camera. The submitted information is quickly analyzed for barcode authentication, optical character recognition validation and scoring, and facial recognition-powered comparison of the selfie to the ID’s photo.
“Our combined technology solutions provide robust fraud protection at a critical juncture,” added Intellicheck CEO Bryan Lewis. “The ongoing rise in data breaches that have compromised the personal identification information of millions of individuals have led to a dramatic increase in identity theft and fraud. In an increasingly mobile and online world, to protect the consumer you must first establish that they have a valid form of government issued ID and then confirm that the consumer is in control of that ID. This new partnership offers a much-needed dynamic solution that achieves both of these requirements in a manner that is at once both potent and seamless for the consumer.”
The combined functionality will be available in a range of product formats including software-as-a-service subscription licenses, usage-based server modules, and mobile SDKs. The combined service offerings will be available for use in the U.S., Canada and Mexico.
McKinsey recently analysed the digital identity market and estimated it was worth roughly $10 billion in 2017. Over the next four years through 2022, it estimates the market will grow be between 9 and 15 percent a year, reaching between $16 and $20 billion.
Applied Recognition | authentication | biometrics | digital identity | facial recognition | Intellicheck
Source: on 2019-01-15 11:38:09
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