Tuesday, January 11, 2022

Fintelle, An AuthBridge Brand, Adds Voice-Based Authentication And Liveness Detection Services To Its Technology Stack

 * Biometric authentication technology by Fintelle aims to make customer identification, onboarding, and fraud detection in financial services faster, more accessible, and secure and future-proof

* The voice authentication technology works with a voice sample as small as two seconds and can function even without an internet connection, with a response time in milliseconds

* The liveness detection technology is based on deep neural networks and takes less than a second to verify a customer identity

Fintelle, the financial intelligence brand of AuthBridge, announced the addition of liveness detection and voice-based authentication services to its technology suite. With the new additions to its stack, Fintelle aims to sharpen its authentication services by adding more AI-based solutions that focus on user experience.

AuthBridge has delivered authentication services over the years. With BFSI-focused digital solutions covering the entire customer lifecycle and biometric authentication becoming more relevant across sectors, the company is continuously innovating and investing in cutting-edge authentication technology and alternate data services. According to a report by Global Market Insights, Inc., the biometrics market is projected to surpass USD 45 billion by 2027. Set against this background, the addition of ‘Biometric Authentication’ will strengthen AuthBridge’s position as a leading service provider across sectors.

Liveness detection by Fintelle validates that the person in front of the camera exists in real with the help of a simple selfie-match, becoming a valuable tool to prevent identity frauds, and spoofing attacks. The entire process takes less than a second and is supported by all smartphones and webcams. No dependency on active liveness ensures that this solution is accessible in areas with low bandwidth or connectivity, including most tier 2 cities, making it a perfect addition to the financial inclusion suite of BFSI players.

Fintelle’s voice authentication technology is universally compatible with all types of mobile devices, and its application is not dependent on text or an internet connection, making it accessible in rural areas, tier 2 and 3 cities, and for people with special needs.  The technology is language independent and has a response time of milliseconds.

Commenting on the development, Pratyush Chandramadhur, Chief Business Officer, Fintelle, said, “The financial institutions have been constantly evolving their business model due to a competitive environment and changes in the regulatory framework. Pandemic has brought further focus on digital transformation and accelerated the process of adopting technology. Biometric authentication is becoming very relevant in the Digital lending ecosystem as this can be used during contactless onboarding, underwriting and for business intelligence. This technology collects a set of unique biometric data of each person to identify, verify and authenticate the person.”

Expanding on the same, Pratyush said, “In the current environment, technology must be built on pillars of inclusion—geographical, economic or others—for it to be future-proof. Our biometric authentication, especially voice biometric verification, will help financial services create impact in the new-to-credit and first-time buyer segment as this doesn’t require sophisticated device-specific fingerprints and can work with low-end devices also. This technology can be used during onboarding and for business intelligence post-onboarding.”

Fintelle’s liveness detection technology, based on deep neural networks, is not only more secure than pin/password-based verification but is also an improvement on most face match solutions in the market today that fail to address advancements in digital imaging solutions used for identity thefts. This is interesting as about 61% of breaches in 2020 involved credentials. This includes passwords stolen through email account compromises and other forms of social engineering attacks.

Both liveness detection and voice biometric verification technology are available to clients across Banking, Insurance, NBFCs, and E-commerce as separate APIs as well as part of a multi-model biometric verification solution. A multi-model verification system overcomes the shortcoming of two-factor authentication that adds to the friction of users by making them go through extra steps during their onboarding journey. Fintelle’s voice-based verification technology is being introduced as the future of authentication as ease-of-use, accessibility and inclusion are at the foundation of its design.

About Fintelle:

AuthBridge, an Indian authentication technology company, launched its Financial Intelligence brand called Fintelle in October 2021. The brand covers KYC Solutions, Digital Customer Onboarding, and Fraud & Identity Management for financial services.

Fintelle brings Authentication Technology, Alternate Data services and Digital Solutions for the lending ecosystem, including new-age banks, NBFCs, Fintechs, Insurance and E-Commerce companies. Fintelle’s AI-powered digital onboarding solution has been recognised by NASSCOM as the Top Innovator in AI for Enabling a Contactless World.

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