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Veridas enters in the first call of the financial Sandbox with CaixaBank

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Miguel-Zarraluqui-Voice-Biometrics

Product Manager de Biometría de Voz

Introduction

Veridas will be the technology supplier of the Caixabank verification project that has been selected within the first call of the Financial Sandbox of the Public Treasury.

What is the Financial Sandbox?

The Financial Sandbox is a “Controlled Testing Space” enabled by the Government of Spain in November 2020 to promote initiatives in the fintech ecosystem with innovative technologies in a controlled manner. In many cases, these new technologies lack an established regulatory framework, so this space will help build it without slowing down the development of the projects.

In general, the initiatives are focused on improving the customer experience and the activity of supervisors.

The project led by CaixaBank, Veridas is a technology partner, aims to use biometric systems to prevent money laundering and terrorist financing, and fraud control. 

The initiative also seeks to improve the efficiency of the identity verification processes of financial institutions carried out by their agents.

Veridas, a world leader in biometrics

With this project, Veridas strengthens its position as a leading biometrics company in Spain, being the only Spanish company that meets the requirements of the National Cryptologic Center (CCN) for remote video-identification endorsed by the National Institute of Standards and Technology (NIST) with an error rate of 1.27%, less than the 5% required by the CCN. Veridas is also the only company evaluated by NIST in its Vendor Testing for 1:1 Facial Biometrics (verification), 1:N (identification), and Voice Biometrics.

Veridas biometric solutions have already performed millions of validations worldwide with customers in various industries besides finance, such as telecommunications, insurance, and transportation.
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