The article discusses the evolution of digital identity in financial services, noting the importance of continuous innovation to enhance security amid rising fraud and regulatory complexities. It highlights the establishment of digital identity frameworks across jurisdictions, compliance with data privacy regulations, and the role of open banking in transforming financial interactions. The ongoing development of…
London police plan to install the UK’s first permanent live facial recognition cameras in Croydon, aiming to enhance crime prevention efforts. The move follows successful deployments resulting in approximately 200 arrests last year. Privacy advocates raise concerns over regulation and potential misuse of data, emphasizing the need for legislative safeguards. London police are set to…
The formation of a Reusable Digital ID Network by Select ID, SQR, Luciditi, and ShareRing aims to enhance remote customer onboarding in UK financial services. By complying with evolving KYC regulations, the initiative focuses on improving identity verification processes and overall customer experiences. The partnership also aims to integrate emerging technologies to restore consumer trust…
IOTA Identity has reached its Alpha release on the MoveVM blockchain, merging digital identity management with decentralized technology. The framework allows for self-sovereign identities and verifiable credentials while ensuring data privacy and integrity. By utilizing a directed acyclic graph for transaction processing, IOTA presents a cost-effective alternative to traditional blockchains. Despite challenges, IOTA’s innovative approach…
Select ID, SQR, Luciditi, and ShareRing have partnered to launch the Reusable Digital ID Network aimed at improving remote customer onboarding in UK financial services. This collaboration focuses on identity verification compliance, enhances customer experiences, and promotes the use of reusable IDs. Utilizing advanced technologies like biometrics, the initiative aims to combat declining consumer trust…
Sweden has issued an RFI for a new ABIS to collect biometric data from asylum seekers, while Moldova is tendering biometric data processing hardware valued at 1.5 million leu. Sweden’s new system will support legislative changes for facial image processing, and Moldova has also prepared for a mobile biometric system procurement earlier this year. Sweden…
Air Canada is introducing facial recognition technology for boarding at Vancouver International Airport, allowing passengers to board without physical IDs. The initiative is voluntary and builds on a pilot program from February 2023. Concerns regarding privacy and job implications have been raised, but the airline stresses data encryption and short retention periods. Air Canada is…
In January 2025, 56 startups in Biometric Payments have emerged, with 23 funded, including 8 at Series A+. The US leads in company presence. Notable startups include IDEMIA, PayFace, Zwipe, BehavioSec, and TypingDNA, each excelling in distinct biometric technologies for secure financial transactions. In January 2025, there are 56 notable startups in the Biometric Payments…
Corsight AI is enhancing AI explainability in facial recognition by showing how its technology analyzes facial features. This initiative aims to build trust and comply with regulations. Corsight has also been certified under the ISO 42001 standard, while addressing international client needs regarding privacy and safety. The company is expanding in various regions, focusing on…
Key State Capital has launched a comprehensive database of decentralized identity projects, revealing that nearly 60% of countries developing digital IDs are also focusing on decentralized options. The move aims to provide greater control over personal data for citizens globally. Despite challenges like limited interoperability and short-lived pilot programs, the market for decentralized IDs is…
