VeriTran announces strategic alliance with FaceTec to secure transactions using 3D Biometric technology

By Pavithra R

Argentinian VeriTran, a global Low-Code platform provider, has announced entering into a strategic partnership with FaceTec, a world leader in 3D face authentication technology, to bring intuitive 3D face matching to Veritran’s Low-Code Platform solutions.

Veritran is continuing to drive disruptive innovation through its financial digital solutions offering by incorporating FaceTec’s 3D identification technology into its security suite, adding an extra layer of protection to the millions of transactions executed by its Low-Code Platform. Under the collaboration, Veritran’s clients will now have access to a biometric 3D solution for digital onboardings, login processes, and transaction authentications for payments and transfers. FaceTec also allows for integration with existing third-party systems, generating a harmony of data encryption and anti-fraud tools for Veritran’s clients.

“We are very excited to expand our global footprint by partnering with Veritran to bring our industry-leading biometric offerings to a new segment of end-users. Protecting end-users from ever-evolving cyber threats and providing technological advances to improve the user experience will make it safer and easier to conduct in-app and digital transactions,” said Kevin Alan Tussy, CEO at FaceTec.

To ensure that only legitimate users have access to sensitive accounts and the information within, FaceTec’s Liveness feature verifies the user’s identity in real-time, matching the user’s 3D FaceMap to their photo ID. Each time the user returns, FaceTec’s ongoing authentication proves Liveness and compares their new 3D FaceMap to the one enrolled. If matched, access is granted with no password required.

“We are pleased to start offering FaceTec’s industry leading theft protection and security solutions to our clients and their end users. The increased use of mobile banking applications due to the global COVID-19 pandemic has shown that security of digital applications is of upmost importance, and we value FaceTec’s partnership in helping us create more secure transactions by using a world-class 3D face authentication solution,” said Omar Arab, Head of Global Strategic Alliances at Veritran.

Established since 2005, VeriTran is disrupting the digital transformation through the agile building of business applications for digital channels, with enhanced user experiences. The company is said to be a leader in the financial industry’s digital transformation and is also extending its platform, giving organisations in other industries the opportunity to build the apps their client wishes.