Financial Compliance Platform Kompliant Selects authID’s Biometric Authentication for Merchant Onboarding

authID [Nasdaq: AUID], a provider of secure, mobile, biometric authentication solutions, announced that Kompliant, a U.S.-based, AI-driven, business onboarding and risk-scoring company, will “integrate authID’s biometric authentication platform Verified™ to stop identity fraud and automate digital onboarding for its customers.”

Kompliant works with payment processors and sponsor banks, and will “deploy authID’s reliable, high-speed identity authentication solution to streamline and secure online merchant application processing and transaction monitoring.”

Solving for end-to-end compliance lifecycle management by automating manual underwriting and monitoring processes for financial institutions, Kompliant needed “an identity authentication partner to eliminate the risks associated with fraudulent merchant onboarding.”

The integration with authID’s Verified solution will “enable Kompliant to deliver biometric identity authentication during digital onboarding for its clients, including quick mobile identity document capture and validation, liveness confirmation and presentation attack detection, and facial biometric matching of a selfie to the credential photo.”

Edward Katzin, CEO of Kompliant, said:

“Given the increased occurrence of cybersecurity threats on financial institutions and payments processors over the last few years, we recognized the acute need to offer our customers a fast, convenient, and highly secure identity verification solution. authID’s cutting-edge biometric authentication platform proved to be the ideal solution, allowing our team to focus on our core mission of managing the compliance lifecycle for our customers.”

With the simplicity of a photo ID and mobile facial biometric identity proofing, Verified enables users “to authenticate their identities anywhere, at any time.”

New users quickly “capture their identity document and a live selfie in a web browser on any mobile device or desktop, and authID matches the selfie against the picture extracted from the identity document to verify that the user is who they say they are.”

For Kompliant, this empowers their customers “to establish digital identity trust during merchant onboarding with automated identity authentication.”

Tom Thimot, CEO of authID, remarked:

“Banks, payment processors, and other financial institutions should be able to concentrate on driving revenue growth without compromising fraud prevention or regulatory compliance. Our Verified integration will allow Kompliant to meet its clients’ identity authentication needs with best-in-class biometric technology. We are thrilled to join forces with Kompliant to offer secure merchant onboarding with speed, accuracy, and trust while ensuring user experience goes undisrupted.”

Kompliant recently “raised $14 million in a seed round from Level One Fund, with contributions from John Partridge, former Visa president and Stuart Sopp, CEO of Current, a U.S. based consumer fintech.”

Initially incubated by Snoop Dogg’s Casa Verde Capital, Kompliant “announced that this funding would enable it to accelerate growth and scale its platform solutions.”

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