MIAMI, May 2, 2019 /PRNewswire-PRWeb/ -- Fraud poses a greater threat than ever to financial institutions and their customers—but powerful defenses are available. At Finovate Spring 2019 in San Francisco, Fortress Identity will demonstrate a digital on-boarding and document identity validation solution that verifies the authenticity of an individual's driver's license or passport ID from 200+ countries in seconds.
According to CEO Alessandro Chiarini, "This new verification solution has the highest speed and accuracy rates in the industry, as well as the biggest document library. We can support the inspection of documents from over 200 countries."
Knowing exactly who you're giving access to when opening a new account reduces fraud substantially, but Fortress Identity's new solution accelerates a variety of other operations, while driving down their costs. For example, enrolling new customers and on-boarding employees. The new solution functions in real-time, either on-premises or remotely. The user experience is swift and hassle-free. From a mobile phone, the user just takes a photo of their ID and the system does the rest.
"We are pleased to offer this new capability," Alessandro says. "It's extraordinarily powerful and a natural complement to our suite of biometric multi-factor authentication (MFA) services."
Fortress Identity will also introduce two new forms of voice recognition at Finovate: Text dependent (phrase) and text independent (free speech), in addition to the randomly generated number employed now. Using free text, a person speaks until the system recognizes the unique characteristics of their voice. Fixed phrase is just that, a few words people use every time to identify themselves, e.g., "San Francisco Giants."
"Our goal is to provide our clients with the largest toolbox of identification validation and biometric security measures in the industry. The identity authenticator and two new voice ID options we're rolling out now will give our clients more flexibility and biometric MFA (multi-factor authentication) security than ever."
Fortress Identity manages on device identification resources, physical identity validation, 3 voice technologies, and we are adding enhanced capabilities, such as advanced face biometrics, quarterly. "We wrap our clients in layers of security," Alessandro says. "Their organizations become nearly impregnable Biometric Fortresses."
And, contrary to what you might think given the strength and sophistication of its products, a financial institution can implement any Fortress Identity solution with a minimal amount of code, similar to how a small merchant was able to implement Stripe.
When asked if biometrics is the future of security, Alessandro smiles. "Yes, it's definitely the future," he says. "And if you're forward thinking, it can be the present. Cybercriminals are counting on the slow inertia of banks changing their technology. I'm looking forward to persuading attendees at Finovate to take a different approach."
FINOVATE SPRING 2019
Main Conference: May 8-10, 2019
Additional Summit Day: May 7, 2019 | Hilton San Francisco Union Square, San Francisco
About Fortress Identity. Headquartered in Miami, Fortress Identity's mission is to create deeper trust between companies, their employees, and their customers through the power of easily implemented biometric multi-factor authentication solutions.
SOURCE Fortress Identity
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