FutureBank taps IDVerse tech to speed customer onboarding

By Gloria Methri

FutureBank has partnered with IDVerse to further its digital transformation and accelerate customer onboarding through secure digital identity verification (IDV).

Through this partnership, new FutureBank customers can access the IDVerse software as part of its offering. IDVerse customers looking for a middleware platform can connect their API credentials to benefit from FutureBank’s platform.

FutureBank is an integration platform for core banking providers that embeds finance services. It acts as the glue between a bank and a third-party provider they want to integrate with. It helps banks and fintechs launch new products better, faster, and more securely.

IDVerse is one of the most certified Identity Service Providers (IDSP), with 20 certifications for the Right to Work, Right to Rent, and Disclosure and Barring Service (DBS) from the UK’s Digital Identity & Attributes Trust Framework (DIATF).

Through its Zero Bias AI-tested technology, IDVerse leverages generative AI to train deep neural network systems to protect against discrimination on the basis of race, age, and gender.

Sergio Barbosa, CEO at FutureBank, said, “Generative AI is breeding many different fraud types. With ChatGPT, fraudsters can create very authentic documents and profiles for people at a low cost. We were impressed by IDVerse’s capability to stop fake IDs from making their way through the system and its fully automated approach that works better than humans. We are delighted to partner with IDVerse to protect our customers from unwanted attacks.”

Russ Cohn, General Manager EMEA at IDVerse, added, “Our fully automated identity verification system can offer FutureBank customers a reliable solution to spot deepfake accounts that fraudsters are increasingly trying to create. IDVerse’s cutting-edge technology maps the facial genome and can detect below-the-skin activities, such as a heartbeat changing the colour of the skin, which the human eye cannot see. These natural yet invisible patterns from faces help verify that an image is of a real human, not a deepfake.”