back Back

VeriTran announces strategic alliance with FaceTec to secure transactions using 3D Biometric technology

By Pavithra R

May 05, 2021

  • Argentinia
  • Argentinian Veritran
  • Facetec
Share

VeriTran forms strategic alliance with FaceTec to secure transactions using 3D Biometric technologyArgentinian VeriTran, a global Low-Code platform provider, has announced entering into a strategic partnership with FaceTec, a world leader in 3D face authentication technology, to bring intuitive 3D face matching to Veritran’s Low-Code Platform solutions.

Veritran is continuing to drive disruptive innovation through its financial digital solutions offering by incorporating FaceTec’s 3D identification technology into its security suite, adding an extra layer of protection to the millions of transactions executed by its Low-Code Platform. Under the collaboration, Veritran’s clients will now have access to a biometric 3D solution for digital onboardings, login processes, and transaction authentications for payments and transfers. FaceTec also allows for integration with existing third-party systems, generating a harmony of data encryption and anti-fraud tools for Veritran’s clients.

“We are very excited to expand our global footprint by partnering with Veritran to bring our industry-leading biometric offerings to a new segment of end-users. Protecting end-users from ever-evolving cyber threats and providing technological advances to improve the user experience will make it safer and easier to conduct in-app and digital transactions,” said Kevin Alan Tussy, CEO at FaceTec.

To ensure that only legitimate users have access to sensitive accounts and the information within, FaceTec’s Liveness feature verifies the user’s identity in real-time, matching the user’s 3D FaceMap to their photo ID. Each time the user returns, FaceTec’s ongoing authentication proves Liveness and compares their new 3D FaceMap to the one enrolled. If matched, access is granted with no password required.

“We are pleased to start offering FaceTec’s industry leading theft protection and security solutions to our clients and their end users. The increased use of mobile banking applications due to the global COVID-19 pandemic has shown that security of digital applications is of upmost importance, and we value FaceTec’s partnership in helping us create more secure transactions by using a world-class 3D face authentication solution,” said Omar Arab, Head of Global Strategic Alliances at Veritran.

Established since 2005, VeriTran is disrupting the digital transformation through the agile building of business applications for digital channels, with enhanced user experiences. The company is said to be a leader in the financial industry’s digital transformation and is also extending its platform, giving organisations in other industries the opportunity to build the apps their client wishes.

Previous Article

May 05, 2021

UOB and American Express launch cashback card

Read More
Next Article

May 05, 2021

SWIFT partners with CBUAE to enhance cross-border payments

Read More









IBSi Daily News Analysis

Middle East, Egypt

January 16, 2024

Argentinia

Egypt among top remittance recipient countries in 2023: World Bank

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Storfund & Mangopay to ease cash flow for marketplace sellers

Read More

Today

Finastra taps Databricks to boost AI capabilities & enhance services

Read More

Today

Worldline partners with Google to enhance cloud-based innovation

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023