Ipsidy Provides Biometric Identity for Financial Institutions and Healthcare Partners - Identity Review - Identity Review | Global Tech Think Tank

Ipsidy, a provider of mobile biometric identity solutions, including Identity as a Service (IDaaS), announced that it has joined the Temenos MarketPlace. This comes as the first in a series of announcements centered around Ipsidy’s new go-to-market strategy focused on partnering with companies serving or supporting key technology initiatives for enterprises. Consumers can look for ready-made solutions and pick up technical documentation and connect to Ipsidy’s cloud-based solutions.

In addition, Ipsidy recently partnered with PharmacyID to create an identity verification solution for the Australian market by combining Ipsidy’s facial biometric technologies with their existing in-person verification of identity.

Providing Protection for the Digital Identity Lifecycle

Temenos is a global banking software provider to over 3,000 financial institutions. The Temenos MarketPlace is a platform that connects banks to innovative technologies. With the addition of Ipsidy’s IDaaS platform, Temenos clients will have access to the Ipsidy suite of mobile biometric identity solutions, which deliver protection from across the digital identity lifecycle, from identity verification during customer onboarding to strong multi-factor authentication and transaction consent.

“Ipsidy is pleased to enter into this collaborative partnership with Temenos to deliver our valued identity verification and authentication services to the world’s leading banks and financial institutions.” said Phillip Kumnick, CEO of Ipsidy. “Everything starts with trusted identity. Our solutions deliver the highest level of identity certainty demanded by today’s digital world.”

Digital Solutions Amid COVID-19

Global banks are seeking to transform outdated customer enrollment processes to digital onboarding solutions and mobilize customer transactions. This demand comes from the ramifications of COVID-19, forcing the closure of local branches. Combining both trusted identity and digital transformation, Ipsidy offers two core products: identity onboarding and proofing capabilities and multi-factor authentication that provide financial institutions with greater security, certitude and trust when engaging with clients online or via personal devices.

According to Kumnick, the use of biometrics in Ipsidy’s products adds a level assurance that can be a great tool for giving people comfort around how their digital lives are accessed and managed.

“The last frontier is facial biometrics. Everybody’s walking around with the phone, so it’s accessible. The ability to fool it is very hard beyond the realm of the common criminal, so to speak. And to me, it adds a level of assurance, security, and trust to any risky process, anything exposed, I should say, that consumers should want.”

Biometric Technologies for Healthcare

Along with joining the Temenos MarketPlace, Ipsidy was also selected by PharmacyID to deliver a high assurance identity verification solution in the Australian marketplace. Under the agreement, PharmacyID will integrate with Ipsidy’s IDaaS platform to add Ipsidy’s mobile biometric identity services to their platform. Proof by Ipsidy combined with the PharmacyID network will deliver a facial biometric and document verification solution that will simplify and enhance the in-person identity verification services currently offered. In addition, PharmacyID will offer fully remote identity verification solutions for businesses that do not require the in-person validation of the highest assurance level.

“The remote online world is rapidly growing with validation of an individual’s identity creating the basis of a new form of trust,” said Geoff Stockton, PharmacyID Managing Director. “By adding Ipsidy’s identity platform services to our platform, PharmacyID can provide an enhanced service with the highest level of trust, needed to address current and future customer demands in the Australian market.”

The Future Move for Ipsidy

Ipsidy’s model is to add biometrics to existing identity management solutions and give higher assurance to the user base and user experience. Looking toward the future, the company hopes to create a differentiation in the digital identity ecosystem, one that will enable others to augment existing processes and help solve problems for big customers, and in the process, distinguish their products in the marketplace.

“Our mission is to do good things, so our goal is not to embed this in law enforcement or to use it without people’s knowledge. Our goal is peaceful in nature, to help people who already have a relationship have a more trusted relationship, and to ensure that that trust isn’t violated by a third party impersonating them as a user,” said Kumnick. “I think our strategies are built around doing the best that we can to bring those kinds of capabilities to large enterprises who have thousands or millions of users.”

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