LSEG (London Stock Exchange Group) and IDVerse today announce a new identity infrastructure partnership to scale global coverage and fight digital deception in customer onboarding.
The partnership will complement LSEG’s existing suite of digital identity and fraud solutions, allowing businesses to tackle rising threats such as synthetic media, whilst addressing new geographical opportunities as identity verification use cases continue to multiply.
Through Document and Biometric Verification, LSEG will empower customers with IDVerse’s identity verification tools and infrastructure, such as fully automated, Zero Bias AI™ tested technology that harnesses the power of regenerative AI to mitigate discrimination based on race, age, and gender. IDVerse’s advanced technology not only fights fraud and deepfakes but also significantly reduces associated risks.
As the need for document and biometric verification proliferates, the partnership will improve both the speed and reliability of checks.
Daniel Flowe, Head of Digital Identity at LSEG, commented: “Onboarding IDVerse complements LSEG’s identity verification capabilities and adds yet another means of low-friction, high assurance identity verification for our customers. IDVerse’s ability to scale across a huge variety of geographies and customer verification use cases allows us to offer our customers a future-proofed solution to digital identity verification."
Flowe, continued: “To give our customers confidence, we extensively tested IDVerse’s interoperability, performance, and agility to ensure that it matched our existing best-in-class standards. This combination gives us a truly next generation workflow to bring to market.”
John Myers, CEO, IDVerse commented: “London Stock Exchange Group is built on a heritage of trust and integrity and we at IDVerse are extremely proud to become a critical infrastructure element in their identity stack. The pace of evolution in digital deception means that identity platforms like LSEG required a tool that adapts to new fraud vectors whilst giving a great customer experience to good customers. This is illustrated by IDVerse now experiencing 1 in 4 fraud attempts involving digital deception."
Myers continues: “The partnership with LSEG allows businesses to remain open to new opportunities whilst adapting to a changing world. Their spectrum of risk solutions, all from one trusted partner, helps organisations efficiently navigate risks, avoid reputational damage, reduce fraud and ensure legal and regulatory compliance around the globe”.
Solving the issues of accessibility, fraud prevention and compliance is of paramount importance to both LSEG and IDVerse with joint systems being built for customers and their end users to ensure access to vital services. This partnership further verifies the need for identity infrastructures to be interoperable and customisable to the end customer and their requirements - without compromising on trust and customer experience.