First Colombian Financial Institution to Deploy Mobile Biometrics Using Daon’s Identity X® Platform
Medellín, Colombia and Reston, VA, August 30, 2016 – Nequi is shaking up the banking sector in Colombia with an innovative platform and offering account access exclusively through a user’s mobile device using the convenience and security of biometric authentication. Customers will enroll their biometrics immediately upon opening their account as Nequi guides them to a new age of FinTech services. Nequi is using Daon’s IdentityX® Platform for mobile biometric authentication and will be the first financial institution in Colombia to feature biometrics in live production.
Starting with facial recognition, that includes ‘liveness’ techniques, Nequi customers will authenticate with a selfie whenever they change devices or SIM cards, reset passwords, or reactivate an account. Nequi will ultimately deploy biometrics (facial recognition) for mobile login as a gateway to their mobile application and add voice recognition as an additional biometric modality.
“In February, when we went to Mobile World Congress 2016 in Barcelona, biometric authentication was one of the novelties, but the good news was we were already piloting this technology,” said Andres Vasquez, Director of Nequi. “Nequi prides itself on being at the cutting edge of innovation, similar to any Silicon Valley startup.”
By incorporating the IdentityX Platform, Nequi offers a better user experience than traditional authentication techniques, protects against account takeover, and secures high-risk transactions with biometric step-up authentication.
“We work with truly innovative customers who want to give their users the best digital experience,” said Tom Grissen, Chief Executive Officer at Daon. “The Nequi brand exemplifies this approach to financial services, removing friction from the authentication process and establishing trust by verifying the person, not a password or dongle. The IdentityX Platform provides Nequi’s customers the added convenience and security they are looking for when managing and accessing their financial accounts.”
Nequi is a free financial platform designed for mobile devices that enables people to use their money freely and securely. With Nequi, people can send and ask for money as if they were chatting. Transactions become experiences and conversations. Users can also organize their money, save and pay in commercial establishments. Nequi is a way of digitizing money; it is universal access to financial services; and it empowers people by offering them tools to achieve their goals. For more information, please visit www.nequi.com or follow Nequi on Facebook.
Daon is an innovator in developing and deploying biometric authentication and identity assurance solutions worldwide. Daon has pioneered methods for securely and conveniently combining biometric and identity capabilities in multiple channels with large-scale deployments that span payments verification, digital banking, and securing borders and critical infrastructure. Daon’s solutions provide our customers with choice, making it easier and safer for people to conduct business online, travel, vote, and so much more. Daon’s IdentityX® Platform for mobile biometric authentication removes friction from the authentication process while dramatically reducing fraud to previously unattainable levels. IdentityX allows businesses to conduct transactions with any consumer at any time with total confidence. Get to know Daon on Twitter, Facebook and LinkedIn.