Ipsidy Inc (OTCQB:IDTY) has reached a collaborative agreement with identity theft and fraud prevention firm Intellicheck (NASDAQ:IDN) to bring an enhanced suite of real-time facial biometric identity proofing and multi-factor authentication solutions to North America.
The deal combines Intellicheck’s remote ID authentication with Ipsidy’s facial liveness and biometric matching services, which the companies say will give clients the confidence to know whether or not the person they are remotely dealing with is who they say they are.
Together, the companies are able to provide authentication with greater than 99% accuracy for any person-not-present transaction, whether on the web or through a mobile app.
READ: Ipsidy and technology consultant IECISA Perú sign agreement to deliver mobile facial biometric identity platform
“Everything starts with trusted identity,” Ipsidy CEO Phillip Kumnick said in a statement. “Our identity platform delivers a suite of services that help our customers quickly and accurately establish this foundation of trust. Intellicheck is well known for their leadership in providing real-time ID authentication. This agreement brings together both service offerings to effectively deter identity fraud and account takeover in today’s digital world.”
According to Intellicheck CEO Bryan Lewis, instances of account takeover jumped 74% in 2019, which cost both merchants and customers money.
“To protect the business and consumer, you must first establish that the consumer opening an account has a valid form of government issued ID and then through facial biometric matching confirm that the consumer is in control of that ID,” Lewis said. “There is an ongoing need to protect the business and the legitimate account holder from fraudulent account takeovers. Every request that could signal account takeover must be authenticated to prevent fraudsters from inflicting costly damage. This partnership provides multiple tools to do so.”
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