Today, Friday, June 24th, Veridas will deploy the new evolutions of its identity verification technologies in the sandbox environment (testing environment available to its customers). Evolutions that not only affect the Digital Onboarding solution but also incorporate significant improvements in the facial and voice biometrics algorithms, solid foundations of our authentication solutions.
A few weeks after its release to sandbox, a time window designed for our customers to test the solutions in a secure environment, Veridas will definitively deploy the technology in production environments. The deployment is scheduled for July 17 in the United States and July 24 in Europe.
Digital onboarding: greater security, versatility, and conversion
In this new product release, substantial improvements have been implemented for our Digital Onboarding solution, both from the security point of view, improving our document fraud detection capabilities, and from the perspective of modularity and user experience.
To begin with, we now allow the implementation of multi-document customer registration processes, adding to a Digital Onboarding flow the verification of two or more different documents, whether they are passports, identity cards, driving licenses, etc. Although each document will be analyzed individually by the more than thirty algorithms prepared to check its validity, Veridas will provide a single global score for all documents.
Regarding fraud detection capabilities, one of our main objectives as a company, we improved the print attack detection algorithms for all passports and the replay attack detection algorithm for all documents, reaching a 95% detection rate for both. For Mexican documents, we have added a photo replacement detection algorithm with a 90% detection rate.
Another exciting improvement, which allows us to increase the conversion funnel of our customers, is the possibility of recovering unfinished Digital Onboarding processes at the exact point where the users abandoned them. This new feature is designed to allow our customers to configure the time window for that function to be available to the end-user, substantially improving conversion rates by not having to repeat steps that have been previously completed. This option will be available for XpressID, our plug & play onboarding solution that our customers can deploy in less than two weeks.
Pioneering secure facial authentication
Veridas has always considered it essential to be at the forefront of digital fraud protection to safeguard the real identity of users using our technology. And if we talk about vanguard, we must be prepared to effectively combat a new reality, increasingly present in the day-to-day life of this type of solution: deepfakes.
Deepfakes, also known as Face or Identity Swap, is an impersonation attempt in which the attacker presents the system with a realistic video generated by artificial intelligence algorithms. In this video, the victim’s face replaces the attacker’s, making it very difficult for a human to detect.
To combat this new attack type, Veridas has implemented a new algorithm for detecting deepfakes, accessible from any onboarding or facial authentication process. The result of this analysis is integrated with the rest of Veridas’ liveness detection technologies, which reached level 2 in iBeta’s evaluation last April. This achievement places Veridas among a very small number of companies worldwide that have had their facial engines evaluated by the National Institute of Standards and Technology (NIST) in its 1:1 and 1:N assessment and have also passed the iBeta Level 1 and Level 2 assessment.
Robust voice authentication against fraud
Finally, Veridas has also enhanced its liveness detection technologies for voice biometrics. These technologies detect prerecorded or synthetic voices, distinguishing them from genuine voices, and reinforcing the security associated with these authentication processes.
Improvements have been relevant both for the detection of voices coming from high-fidelity and low-fidelity loudspeakers. This fundamental functionality, coupled with the ability to verify an identity with only 3 seconds of voice in any language and text, allows Veridas to strengthen its global leadership position.
A unique value proposition; a Phygital proposition
Veridas presents itself in 2022 with a unique value proposition: to guarantee the right to use the real identity of people both in the digital and physical world, without passwords or keys.
To this end, Veridas develops 100% proprietary technologies for facial biometrics, voice biometrics, document verification, and physical access, allowing us to confront the future through a holistic vision of identity.
At the same time, we continue to drive the development of new use cases and the arrival in new geographies, with the recent opening of the subsidiary in the United States. This opening, linked to the physical presence in Mexico, confirms the company’s international expansion, which already operates in more than 15 countries and serves more than 150 clients.
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