back Back

FutureBank taps IDVerse tech to speed customer onboarding

By Gloria Methri

September 05, 2023

  • Cybercrime
  • Digital Customer Onboarding
  • Digital ID Veritfication
Share

IDVerse, FutureBank, Cybercrime, Generative AI, Digital ID Veritfication, Digital Transformation, Embedded Finance, Identity Service Provider, UKFutureBank has partnered with IDVerse to further its digital transformation and accelerate customer onboarding through secure digital identity verification (IDV).

Through this partnership, new FutureBank customers can access the IDVerse software as part of its offering. IDVerse customers looking for a middleware platform can connect their API credentials to benefit from FutureBank’s platform.

FutureBank is an integration platform for core banking providers that embeds finance services. It acts as the glue between a bank and a third-party provider they want to integrate with. It helps banks and fintechs launch new products better, faster, and more securely.

IDVerse is one of the most certified Identity Service Providers (IDSP), with 20 certifications for the Right to Work, Right to Rent, and Disclosure and Barring Service (DBS) from the UK’s Digital Identity & Attributes Trust Framework (DIATF).

Through its Zero Bias AI-tested technology, IDVerse leverages generative AI to train deep neural network systems to protect against discrimination on the basis of race, age, and gender.

Sergio Barbosa, CEO at FutureBank, said, “Generative AI is breeding many different fraud types. With ChatGPT, fraudsters can create very authentic documents and profiles for people at a low cost. We were impressed by IDVerse’s capability to stop fake IDs from making their way through the system and its fully automated approach that works better than humans. We are delighted to partner with IDVerse to protect our customers from unwanted attacks.”

Russ Cohn, General Manager EMEA at IDVerse, added, “Our fully automated identity verification system can offer FutureBank customers a reliable solution to spot deepfake accounts that fraudsters are increasingly trying to create. IDVerse’s cutting-edge technology maps the facial genome and can detect below-the-skin activities, such as a heartbeat changing the colour of the skin, which the human eye cannot see. These natural yet invisible patterns from faces help verify that an image is of a real human, not a deepfake.”

Previous Article

September 05, 2023

NatWest adopts low code tech for Payments Modernisation

Read More
Next Article

September 05, 2023

Provenir appoints Andres Elizondo as Chief Financial Officer

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Cybercrime

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 23, 2024

Zurich Insurance partners with BOXX to develop cyber risk solution

Read More

May 23, 2024

Data Zoo bags $22.7m in Series A from Ellerston JAADE to fuel global expansion

Read More

May 23, 2024

myTU launches Payouts API for businesses

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023