LONG BEACH, New York, Feb. 28, 2019 /PRNewswire/ -- Ipsidy Inc. (www.ipsidy.com) (OTCQX: IDTY), a provider of secure, biometric identification, identity management, and electronic transaction processing services, today announced the launch of Proof™ by Ipsidy, a mobile identity proofing solution that uses government-issued credentials combined with real-time biometrics.
Our World is One of Sharp Contrast
Security breaches and transaction fraud continue to make waves in our physical and digital worlds, despite our best technological and legislative strides to combat them. Millions of businesses and consumers are impacted each year, yet our demand for convenience increases and consumers want it both ways. We expect 24/7 access to information, accounts, and systems, near and far. Businesses and organizations are challenged by the delicate balancing act required to provide personalized, convenient services, data collection, and compliance.
The Highest Level of Integrity and Convenience Allowing Clients to Meet Today's Demands for Secure Mobile Onboarding
Proof by Ipsidy provides remote mobile biometric identity verification and transaction authentication for all types of high-integrity business interactions with 'know your customer' (KYC) requirements. Think major financial transactions, application, enrollment and account opening processes, new customer, remote employee and student on-boarding, sale of age-restricted product, building access verification and more. Traditionally, significant transactions like these require an official ID check and are in-person events or involve burdensome processes-- the opposite of what we've come to expect in terms of convenience.
Proof by Ipsidy provides the certainty required by Ipsidy clients and allows them to initiate a simple, two-step identity check from anywhere in the world that's completed in minutes by using Ipsidy's convenient mobile app.
Datapro to Deploy Proof
Datapro, a developer of advanced software systems for financial institutions located in Miami, FL, will be the first to deploy Proof into their digital onboarding solution to allow their financial services clients to securely and seamlessly confirm customers' identities. Datapro is an Ipsidy partner that services more than 160 customers in 31 countries, ranging from the agencies of foreign banks to banks in Central and South America and the Caribbean, ultimately servicing millions of customers.
"We are seeing an escalating demand from our financial services clients for a secure, digital customer onboarding solution," said Javier Montero, CTO of Datapro. "Ipsidy's innovative digital identity authentication solutions provided us with a unique value proposition. In 2018, Verified by Ipsidy allowed us to offer our clients a more secure and seamless customer account logon and funds management process that replaces passwords with enhanced biometric identity authentication. Now by extending our partnership with Ipsidy to include Proof, we can provide a digital customer onboarding solution that ultimately provides an extra level of security and trust."
How Proof Works
Using the camera on any Apple or Android smart phone, Proof scans a government ID to extract critical information and using NFC capability reads and validates meaningful data that's stored inherently in government-issued ePassports and eIDs to provide an official identity check. The authenticity of the data in an ePassport or eID is validated from the digital signature and passports can be confirmed as originating from the government that issued them. Proof by Ipsidy can use all ePassports, eIDs (utilizing the ICAO 9303 standard), as well as many Driver's Licenses and other types of National Identity Cards issued by governments from around the world.
Once an ID is scanned and validated, Proof captures a live selfie that is matched against the facial image stored within ePassport or eID chips or printed on other types of government issued IDs. If all factors are confirmed, a positive proof result is provided to the requesting party. Requesting parties can receive all data extracted from the credential, facial images (live and stored), an image of the ID (if used), a biometric match score, and a record of active end-user consent to the entire process.
Optimize Business Processes with Proof
Ipsidy offers Proof from a secure online portal allowing clients to leverage Proof into their business with no integration required. Agents simply enter a mobile phone number to deliver a Proof request to a prospective customer who uses Ipsidy's mobile app to complete the process in seconds.
Alternatively, for a fully customized Proof service, system developers can quickly integrate their existing business systems to Ipsidy's IDaaS platform using our REST APIs.
A verified identity obtained from Proof can seamlessly be used across the Ipsidy platform for future biometric, multi-factor authentication (MFA) protection on a variety of account transactions, and within any custom-integrated application.
"Everything starts with trusted identity," said Philip Beck Chairman and CEO of Ipsidy Inc. "Our identity platform approach allows us to offer a suite of services that our customers can use to seamlessly create the foundation of trust for multiple use cases with a single user experience delivered through the Ipsidy mobile identity application."
Ipsidy Inc (OTCQX:IDTY) www.ipsidy.com is a provider of secure, biometric identification, identity management and electronic transaction processing services. Ipsidy is headquartered in New York and has operating subsidiaries: MultiPay in Colombia, www.multipay.com.co; Cards Plus in South Africa, www.cardsplus.co.za; and Ipsidy Enterprises in the U.K. Our identity transaction platform creates a trusted transaction, embedding authenticated identity and event details with a digital signature and using a participant's mobile device to approve everyday transactions. Our platform offers biometric and multi-factor identity management solutions which support a wide variety of electronic transactions. We believe that it is essential that businesses and consumers know who is on the other side of an electronic transaction and have an audit trail, proving that the identity of the other party was duly authenticated. We continue to enhance our solutions to provide our customers with the next level of transaction security, control and certainty over everyday transactions. Further information on Ipsidy can be found at www.ipsidy.com or contact us at [email protected]. Further information about Proof can be found at https://www.ipsidy.com/use-cases/proof/.
Notice Regarding Forward-Looking Statements
Information contained in this announcement may include "forward-looking statements." All statements other than statements of historical facts included herein, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations of both Ipsidy and its business partners, future sales, product and service launches with customers and new initiatives and customer pipeline are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Ipsidy's present and future business strategies, and the environment in which Ipsidy expects to operate in the future, which assumptions may or may not be fulfilled in practice. Implementation of some or all of the new services referred to is subject to regulatory or other third-party approvals. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by customers, consumers and others may take longer than anticipated, or may not occur at all; changes in laws, regulations and practices; changes in domestic and international economic and political conditions and others. Additional risks may arise with respect to commencing operations in new countries and regions, of which Ipsidy is not fully aware at this time. See the Company's Annual Report Form 10-K for the Fiscal Year ended December 31, 2017 filed at www.sec.gov for other risk factors which investors should consider. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Ipsidy expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
Jonathan Ellis, Managing Director, EMEA
James Tuffery, Director Identity Solutions, North America
Matthew Cordis, Director of Business Development, LATAM
SOURCE Ipsidy Inc.