Trulioo adds facial recognition, document software to EmbedID
08 July 2020 17:37 GMT

Trulioo, a leading global identity verification provider, today announced new document verification and facial recognition features to EmbedID, a low-code developer tool preconfigured to work with GlobalGateway API, the world’s largest identity verification marketplace. Leveraging independent data sources and integrated identity services worldwide, EmbedID helps small and medium-sized businesses verify users during the account creation process to help meet Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements, increase trust and safety and mitigate fraud risks.

Using EmbedID, SMBs can copy a snippet of code and paste it onto their website to automatically generate a stylized registration form that is prewired to GlobalGateway to instantly verify personal identification information. The new features enable ID documentation verification and biometric authentication for an added layer of security. This  empowers SMBs to check the authenticity of government-issued ID documents and use facial recognition with liveness detection to ensure the person creating the account matches the photo on the ID document.

“Taking a multi-layered approach to identity verification offers businesses the strongest defense against increasingly sophisticated bad actors,” said Rutherford Wilson, Director of Growth at Trulioo. “Adding document verification gives another layer of protection to help reduce risk, especially when combined with reliable identity verification. By enabling both of these capabilities, organisations can have increased confidence in knowing the user is tied to a real identity and that they are who they claim to be online.”

Due to budget restraints, SMBs typically have limited access to bank-grade technology and security solutions, making them an easy target for bad actors. This is evidenced by research from Accenture which found that an alarming 43 percent of cyberattacks are aimed at small businesses, while only 14 percent are prepared to defend themselves. In fact, six out of 10 small businesses have no digital defense plan in place, underscoring the need for industry awareness and education, according to Keeper Security 2019 SMB Cyberthreat Study.

“In an age of ongoing digital transformation, it’s essential for SMBs to be able to access the same identity verification solutions used by large organisations to protect their business and scale their company,” said Wilson. “Sadly, 60 percent of small and mid-sized businesses go out of business after an attack, and we designed EmbedID to help level the playing field to allow for accelerated innovation, customer acquisition and competition in the marketplace.”

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