Sunday, 15 September 2019

Nuggets deploys Onfido biometrics for private payment and identity solution

Blockchain payments platform Nuggets has teamed up with Onfido to deliver a private payment and identity solution with facial biometrics and zero-knowledge cryptography. The strategic partnership will enable the use of Onfido’s AI-powered ID verification service for mobile, iOS and Android, to confirm user identity for Nuggets’ blockchain payment and identity solution.

The method consists in a three-step verification process. Users will take a selfie to provide facial biometrics and a photo of their government ID, and Onfido will scan them to confirm liveness and authentication without compromising their privacy.

Following an analysis of the European identity verification and authentication market, Frost & Sullivan has recognized Onfido with the 2019 European Technology Innovation Award for its advanced hybrid identity verification solution.

“Onfido’s proprietary identity verification solution employs multiple advanced algorithms in parallel, which helps triangulate and verify users’ documents as efficiently as possible, in less than 20 seconds,” Doraiswamy Bharath Sunderraj, Industry Analyst. “Onfido’s process is able to scale with increased demand as it uses machine learning to intelligently detect anomalies in 2D identity documents. Compared to local know your customer (KYC) document collectors that are vulnerable to hacking and data loss, Onfido’s solution is cloud-based and extremely secure.”

Doraiswamy Bharath Sunderraj also praises the company’s proactive measures to grow along with industry demands and threats, which includes hiring 240 technologists across six countries. The award is presented each year to the company that Frost & Sullivan finds has developed innovative features and functionality for a product which is gaining rapid market acceptance, as backed up by the Nuggets announcement.

“It’s great to join forces with Onfido,” said Alastair Johnson, CEO and Founder of Nuggets. “Our vision for a decentralized future, self-sovereign identity, data and payment, facilitated by blockchain technology, works well with the identity verification services Onfido offers. We’re looking forward to collaborating.”

Nuggets has been shortlisted for five categories in the 7th annual Payments Awards alongside NatWest, HSBC, Coinbase and Starling Bank.

In 2018, Nuggets was selected as a finalist in the MoneyAge Awards and was shortlisted for three Payments Awards.

“We firmly believe that the days of centralized models are numbered and that the way forward must allow for greater security and privacy, as Nuggets has been able to achieve,” added Husayn Kassai, CEO and co-founder at Onfido. “We’re excited about this opportunity to work with Nuggets to evolve a self-sovereign identity solution, which users can use to verify their identity. By collaborating and sharing resources, both companies can help accelerate change.”

In July, Onfido launched an international partner program.


source: biometricupdate.com
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