Identity fraud is on the rise in Africa. According to the survey conducted by FICO a prominent analytics software company, in 2022, every seventh person experienced an identity fraud incident in South Africa. This factor, and a growing demand for online services, makes it essential to strengthen the digital identity verification processes within businesses.
Digital identity and KYC orchestration platform Contactable has partnered with ID Secure and Regula to enhance its current integrated identity document verification capabilities to further combat identity fraud.
The solution recognizes an identity document type immediately, automatically reads data, and performs numerous cross-checks of all information from all document zones. This verification helps spot any possible inconsistencies and detect illegal alterations and forgery.
The identity document database comprises the whole Regula’s database of more than 12 000 identity document templates from 247 countries and territories. In another layer of security, ID photo images are digitally extracted and compared to the facial biometric images of the persons and their golden source biometric images where available.
“We are well known for providing a leading suite of products and solution to our customers. Identity document forensic verification allows us to further enrich our technology whilst combatting identity fraud in a fast and frictionless manner,” comments Daniel Robus, chief regulatory officer at Contactable.
“Having access to global partners who continue to evolve and extend their services gives our Contactable clients a depth of solution that is both world class and locally relevant. The Regula team are responsive and customer centric which is what is needed when dealing with sensitive processes such as customer onboarding and KYC. At Contactable we have to remove obstacles from the process and therefore the right partners are key. Regula is one of those,” he adds.
“Digital identity verification implies multiple issues to pay attention to and includes a trustworthy service that is capable of frictionless onboarding and stopping fraudsters. We are proud of our partnership with Contactable and look forward to contributing our decades-long expertise in forensics and document research into modern and highly demanded remote identity verification services,” says Ihar Kliashchou, chief technology officer at Regula.