Passive Facial Liveness leader expands into crypto
NEW YORK, November 9, 2020 – ID R&D, the award-winning biometric and liveness detection technology company, announced today that BitcoinPoint, a UK-based cryptocurrency mobile app provider, has selected IDLive™ Face to enable passive facial liveness detection during new customer onboarding.
The creation of user-friendly processes to securely buy, sell, and use cryptocurrency has been a hurdle to adoption. BitcoinPoint helps break down these barriers with a mobile app that makes it safe and easy to buy and sell bitcoin. Simplifying account opening while complying with Know Your Customer (KYC) regulations is critical to a positive customer journey and increased adoption.
Liveness detection fights fraud by stopping spoofing attacks during identity verification. ID R&D’s passive facial liveness is unique in that it works transparently in the background without creating any friction for the user. In fact, ID R&D’s single image approach uses the same selfie captured for facial recognition to perform the liveness check. This is in stark contrast to solutions that confuse and frustrate potential customers by requiring them to turn their heads, blink, follow movement commands, or be subjected to flashing colored lights. And because the process is “invisible” to users, fraudsters don’t have clues on how to break it.
“The ability to make KYC-compliant customer onboarding as frictionless as possible reduces abandonment rates, which results in more people experiencing the advantages of cryptocurrency, “ said Benoit Marzouk CEO at BitcoinPoint. “BitcoinPoint makes buying, selling and using bitcoin so straight forward and hassle-free that anyone can do it. The onboarding process is no exception.”
“Identity verification is an important step to building trust and preventing fraud in the crypto space,” said Steve Cook, Head of Business Development at ID R&D. “The ability to secure the sign up process while keeping it quick and frictionless for legitimate users is emerging as a competitive advantage in a space that has been hard for the average investor to navigate.”
IDLive Face is the only single frame, passive liveness detection product to achieve iBeta Level 1 and Level 2 Presentation Attack Detection Compliance in accordance with ISO/IEC 30107-3. In addition to demonstrated accuracy on both iOS and Android devices, the SDK enabled easy integration with BitcoinPoint’s existing facial recognition solution. Because the single frame solution is deployed as a separate independent function, no changes to the user interface or communication interfaces were needed.
Cryptocurrencies like Bitcoin are becoming more mainstream. Today there are 11,000 bitcoin ATM locations across 70 countries and by the end of this year, BitcoinPoint will allow its customers to cash out their bitcoin through a network of 18,000 standard ATMs. Today,
BitcoinPoint users can buy and cash in their bitcoin at 20 agent stores across London or with the BitcoinPoint mobile app through UK Fast Payment with Open Banking technology, available for iOS and Android.
About ID R&D
ID R&D is an award-winning provider of multimodal biometric security solutions. Based in New York, NY, ID R&D combines science-driven technological capabilities with leading research and development to deliver seamless authentication experiences. ID R&D’s solutions are available for easy integration with mobile, web, and IoT applications, as well as in smart speakers, set-top boxes, and other IoT devices. Learn more about ID R&D’s voice and face biometrics, voice and face biometric anti-spoofing, multimodal biometrics, and audio event detection at https://www.idrnd.ai