Wultra, a leading digital banking security provider in the Czech Republic, has joined forces with iProov, a global leader in biometric authentication.
This partnership will enable Wultra to incorporate iProov’s biometric solutions suite into its portfolio of digital banking services.
Consumers are increasingly demanding online access to high-risk services such as new account enrolment and account reactivation from their financial service providers. Banks collaborate with companies like Wultra to balance security and convenience for their customers during critical points of the end-user lifecycle. A major challenge for banks is remotely verifying the identities of consumers in a user-friendly way that minimizes mid-process dropout.
Raiffeisenbank, a Czech member of Raiffeisen Bank International (RBI) operating across 14 Central and Eastern European countries, has implemented iProov’s biometric solution offered by Wultra. This will allow its customers to securely reactivate their bank accounts online at their convenience, without visiting a physical branch or using additional hardware.
Wultra helps banks and FinTech companies secure their digital applications by providing modern, easy-to-deploy authentication solutions. These open-source, developer-friendly solutions can be deployed in weeks rather than months. Wultra’s passwordless authentication offers an intuitive, easy-to-use experience that genuinely improves client experiences while ensuring 100% compliance with PSD2 legislation, meeting Strong Customer Authentication (SCA) and dynamic linking requirements.
iProov specializes in online facial biometric authentication, working with governments, banks, and other enterprises to securely verify customer identities. Its proprietary facial biometric solution ensures that end users are the right person, a real person, and are verifying in real-time. iProov’s technology is employed by security-conscious organizations like the Department of Homeland Security, Eurostar, ING Bank, and UBS.
Raiffeisen Bank Cryptology and Biometrics Competence Centre Lead, Mathematical Security Architect Tomáš Rosa, Ph.D., said, “iProov has been successfully deployed by leading global banks and has achieved the industry’s highest completion rates. This provides us with clear evidence of both its user-friendly qualities and ability to meet high customer demand.”
Wultra CTO Zdeněk Černý commented, “iProov’s technology delivers on all fronts and stood out from the RFP process as ‘the real deal’. It has been a great addition to our portfolio and is already loved by one of our biggest customers, Raiffeisenbank, who actively encouraged us to add iProov technology to our stack.”
iProov founder and CEO Andrew Bud said, “iProov’s biometric solutions suite is uniquely able to assure liveness, a key determinant in mitigating AI-based attacks. We are excited to partner with Wultra in their mission to secure and protect leading banks and fintech companies with meaningful security solutions for their internet and mobile apps.”
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