iProov, a facial biometrics solutions provider, has partnered with Estonia’s Cybernetica, renowned for its cutting-edge technologies for crafting secure digital societies.
At the heart of this collaboration lies the goal to design a Multi-Factor Authentication (MFA) digital identity solution. Targeted primarily towards government and financial services entities, the solution aims to cover the EMEA, LATAM, and APAC territories.
Estonia, already recognised globally for pioneering digital identities since 2014, finds its contributions from both Cybernetica and iProov pivotal. Each has played a significant role in Estonia’s universally embraced digital identity scheme.
The partnership between Cybernetica and iProov promises a seamless method, allowing individuals to transform any smart device into a tool for digital signing and authentication. This facilitates instant and secure digital service access and transaction approvals. Ultimately, it grants governments and organisations the confidence that users are genuinely who they claim.
ogether, these two giants have met the most stringent European Union regulatory standards and certifications for security. Not only do they shield an individual’s digital identity from potential AI threats, but they also offer a solution that’s painless for organisations to integrate.
iProov, in its mission, aims to offer an intuitive user experience. It pairs this with unmatched biometric security levels, a move to thwart online frauds, identity thefts, and other cybercrimes during the stages of online onboarding, authentication, and identity verification.
Cybernetica’s Head of Digital Identity Technologies, Michael Buckland, commented, “Combining Cybernetica’s Splitkey technology with iProov’s patented Biometric Solution Suite truly amplifies our offering. By incorporating authentication and digital signing, we’re set to develop a formidable, secure digital identity solution for remote enrolment. This not only bolsters our foothold in current markets but paves the way for venturing into newer regions.”
Chief Product and Innovation Officer at iProov, Joe Palmer, shared, “This partnership amalgamates Cybernetica’s threshold cryptographic key protection solution with our Biometric Solution suite. The result is a potent identity tool for remote onboarding, tailored for government and financial institutions worldwide. We’re keen to kickstart this venture and envision the milestones we can achieve in unison.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
