cl-nz logo
Story image

Trulioo brings document verification with face ID to SMBs

15 Jul 2020

Trulioo, a global identity verification provider, has launched 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. 

The new facial recognition and document verification technology will enable small and medium-sized businesses (SMBs) to provide the same level of online protection to their customers as multinational organisations. 

As part of a holistic approach to identity verification, this new technology will empower SMBs to ensure compliance, become more resilient against cyber attacks and maintain operations.

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 stylised 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,” says Trulioo growth director Rutherford Wilson. 

“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% of cyberattacks are aimed at small businesses, while only 14% are prepared to defend themselves. 

6 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,” adds Wilson. 

“Sadly, 60% 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.

“SMBs tend to have limited IT budgets and KYC/AML compliance expertise. We wanted to build a solution for SMBs that provides battle-tested identity verification, reduced integration costs for IT departments, and an easy to use administrative portal so non-tech individuals can make updates as requirements change.”

Story image
InfoTrust named Mimecast’s A/NZ Growth Partner of the Year
The award reflects InfoTrust’s customer-centric approach with a focus on optimising ROI for customers’ security investments, the company says.More
Download image
Fluid organisations require flexible security
Choice, appropriate risk analysis, and ease of use for everyone top benefits of strong authentication.More
Story image
Westcon Group reaps $221.5m revenue
Westcon Group New Zealand’s financial statement reveals revenue of $221.5 million for the year ended 29 February 2020, with after-income tax profit grossing $2.7 million. Both revenue and profit are up from the 2019 year, in which revenue was $211.6 million and after-income tax of $1.6 million. The company’s revenue comes from sales of goods, sales of service, and commission received from the sale of maintenance service. Sales of goods for the 2020 year totalled $216.7 million, up from $206.8 million in 2019. Additionally, revenue resulting from sale of service totalled $883,606 – up from $861,358 in 2018. Commission received from sale of maintenance service topped $3.89 million, a drop of only a few thousand dollars compared to 2019 figures. Westcon’s purchases for the 2019 cost $202.7 million, up from $194 million in 2019. Employee benefits expense cost $12.7 million, up from $12.6 million in 2019. The company paid no dividends for the financial period. There are 1000 ordinary shares in the market. Referencing the COVID-19 pandemic, the financial statement says that it is not possible to estimate the short- and long-term effects of the economic impact. “This being the case we do not consider it practicable to provide a quantitative or qualitative estimate of the potential impact of this outbreak at this time.” *Some figures have been rounded.More
Download image
Workforce demographics and culture is changing. Management must too
The way we work is changing, and so is the make-up of the workforce. To get the best results, businesses need to take on dynamic workforce management.More
Story image
COVID-19 hits smartphone market hard, with all but Apple sales down
As a whole, in Q2 2020 the global smartphone market dropped 14%. The market fell to 285 million units, a second consecutive quarter of freefall, as lockdown orders caused by the COVID-19 pandemic persisted through April and May. More
Story image
Attivo named by Gartner as Sample Vendor for deception platforms
The company was named as an example of platforms that create false artifacts to aid threat detection in Gartner’s 2020 Security Ops Hype Cycle report.More