Equifax launches facial recognition solution to improve speed and security of financial applications

Equifax, the consumer and business insights specialist, has launched a bespoke Document Verifier solution to provide faster identity authentication for financial product applications using facial recognition. The solution can verify whether an applicant is genuine in a matter of seconds by comparing a live image of the individual with a photograph of their passport or driving licence, both taken on a smart phone or webcam-enabled device.

The automated technology can recognise potential tampering or anomalies on official documents from over 200 countries. It also employs enhanced ‘liveness’ detection which detects even the slightest movement when the applicant is taking a photo of their face, ensuring that fraudsters are unable to create a match using a static image of an applicant.

Through partnership with two of the leading document verification and facial recognition companies globally, namely Jumio and Paycasso, Equifax can offer a tailored service designed to meet specific customer on-boarding requirements for sectors including mortgages, credit cards, the utilities and telcos. The solution offers a choice of service that allows the client to strike the right balance of speed and security for specific business needs.

The new offering will improve the customer journey for new customers during an application process through quick and easy identity verification.

John Marsden, head of ID and counter fraud at Equifax, said: “Fraud is a massive problem in the UK that’s estimated to account for an annual loss of £193 billion. Changing the way in which we verify identities will go a long way towards helping to combat the issue. Our own recent research, conducted in conjunction with YouGov, shows that 56% of people would prefer to use biometric security measures online to access their financial accounts. That far outpaces traditional identity verification methods. This is also reflected in the positive reaction to using biometric technology in daily life, for example with e-passports or to unlock your smart phone.”

Marsden added: “We expect interest in biometrics will continue to rise as customers and businesses reap the benefits of faster and more secure processes using simple ‘selfie’ or thumb print authentication. Our Document Verifier aims to facilitate the best and most secure customer journey available. It supports consumers’ preference for convenience, while the solution can be tailored to different business strategies for fraud prevention and risk management.”

Identity technology trends in healthcare

A shift in how trusted identities are used across the healthcare continuum is fuelling the demand for advanced smart card technologies and mobile solutions as healthcare institutions become more connected. The new focus on ID technology is changing how institutions operate, how they manage access to patients, data and equipment, how they protect patient privacy and how they improve billing accuracy – all without compromising the quality of care. That’s according to HID Global, the trusted identity solutions developer.

“Healthcare organisations are increasingly seeking to improve the physician, staff and patient experience by employing a combination of strong authentication and new Internet of Things (IoT) applications to address their challenges,” said Sheila Loy, director for the healthcare industry at HID Global. “Trusted identities will simplify and connect all aspects of healthcare operations, from opening hospital doors, accessing healthcare records and e-prescribing of controlled substances to how healthcare professionals interact with patients and log their activities.”

The healthcare industry is embracing new ways to establish, create, manage and use trusted identities, which is redefining the meaning of trust as healthcare organisations embrace the IoT in smarter environments. This will drive a number of key technology trends:

Integrated, compliant systems that are convenient and connected
Multi-factor authentication will incorporate One Time Password tokens, Public Key Infrastructure and biometrics. The solutions will be used to protect patient records and data, secure access to facilities, authenticate remotely to VPNs using mobile devices and enable new IoT use cases.

Unified platforms will also add intelligent visitor management systems and automate other manual workflows to provide an access management solution that integrates with access control, IT security and other applications.

Connected environments drive the need to ensure the Internet of Trusted Things (IoTT)
Continued adoption of electronic visit verification will help to streamline in-home patient visits and eliminate billing fraud using ‘proof of presence’ applications that make it easier to document the time, location and accurate delivery of prescribed care. Healthcare institutions will embrace trusted IDs, predictive analytics and new IoT solutions that use real-time location-based services to effectively connect, monitor and manage patients, mobile clinicians and staff. These solutions will also help in quickly locating critical medical equipment, beds, cardiac trolleys and other medical devices by providing the missing link between physical assets and a trusted ID ecosystem.

Growing role for biometrics in patient and provider authentication
Biometrics will be used to ensure the right patient is receiving the prescribed care, and that providers are authorised to manage confidential patient medical records. Biometric solutions will also be used for e-prescribing to authenticate the issuer, pharmacy staff and/or the patient, with fingerprint biometrics continuing to be one of the most widely used forms of this technology due to its ease of use.

Biometric sensors and modules will continue to deliver improved capabilities for the healthcare environment, including faster finger image capture for a better user experience as well as certifications to key industry standards for accuracy and image transfer performance.

In conclusion, HID Global anticipates that the healthcare industry will be impacted by these trends in 2017 and beyond as the shift in the use of identity technology continues to influence product development and end user experiences in the years ahead.

About the Author

Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications)

Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting.

In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector.

In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute’s George van Schalkwyk Award.

An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award.

Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site.

Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media.

Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014.

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