Big week for Ipsidy and facial biometrics

Biometric authentication tools are one of the key technologies helping to establish Trust in an ever-growing decentralized world. Traditionally, biometrics were thought of as your fingerprint, voice printing, or iris scanning; however, there are several companies exploring the potential of using the face as the basis for trusted identity transactions.

Ipsidy Inc. (http://www.ipsidy.com) (IDTY), a provider of secure, biometric identification, identity management, and electronic transaction processing services is at the fore of this new wave of facial biometrics and had two exciting announcements this week.

First, they announced a partnership with Safetrade, a South Africa-based technology development company specializing in payment processing in secure environments. Ipsidy hopes to leverage SafeTrade’s expansive customer base to bring their Access and Verified products to sub-sharan Africa and the Indian Ocean Market.

On the other side of the ocean, Ipsidy experienced a successful launch of their Verified product with Unibank, a leading Panamanian bank specializing in corporate and private banking, and Datapro, Inc., (http://www.datapromiami.com), a developer of advanced software systems for financial institutions.

Requiring no integration, Ipsidy’s Verified product seamlessly authenticate a user’s identity from the convenience of their own smartphone. A Verified admin can simply login to the Ipsidy portal to trigger an authentication request to a user’s registered mobile phone. Users quickly capture their ‘selfie’ in their trusted Ipsidy mobile application to authenticate their identity and approve everyday transactions. Ipsidy’s platform then converts the selfie into a biometric facial template that is matched against a previously enrolled reference template.

Also featured is Access by Ipsidy. Access, run on their Concierge application, empowers an administrative to enroll users identities by taking a picture of their face. After enrollment, the administrator can easily establish a safe physical environment by monitoring the enrolled identities of people moving in, out, and around the defined area. Ipsidy’s application utilizes low-cost Bluetooth beacons to provide for a seamless experience.

Ipsidy’s success, at a global scale, is a signal of the universal applicability of both the mobile phone as the new identity bearer instrument and the potential of biometrics, in this instance the face, as a key component of securing those identities. It will be interesting to see what lessons Ipsidy can learn from such a diverse user base, and how they will use them to improve their product offering.

Disclosure – Ipsidy is an advisory services client of OWI