Advanced biometric technologies and new market entries tackle fraud and hunt billions of digital IDs
Amid forecasts of rapid growth and huge market potential, digital ID platforms launched by Techsign and Ping Identity, new services, features and even an investment fund were launched. A new camera solution for subscreen 3D facial biometrics from Infineon and its partners, and IPO filings from Clear and SenseTime show parallel investment activity in biometrics, while experts from Veridium and Intellicheck provide insight into the evolving technology and fraud landscapes, some of the most read stories this week on the biometric update.
Top biometric news of the week
Several areas of the digital identity market remained very active, with the launch of a new investment fund to support startups in digital commerce and payments, Yoti joining a regulatory sandbox, Techsign launching a platform for ‘digital ID, and Mastercard and b.well reporting positive results from a recent pilot for their healthcare biometric platform. All of this activity helps explain Juniper Research’s forecast of rapid industry growth to $ 16.7 billion in 2026, mostly through remote integration spending.
Okta CEO Todd McKinnon told Barron’s that the total addressable market for identity and access management vendors like Okta is around $ 80 billion, and effective integration is key to solving problems. biometric problems in space. Entrust and Yubico formed an integration partnership, LoginRadius launched a new feature, Jamf launched a biometric tool for businesses, and a certification program for IAM professionals was launched.
A list of goods for sale on the dark web includes a list of selfies with US ID, which could in theory be used in a biometric spoofing attack. Cybersecurity researcher Luana Pascu helps guide readers through the report and shares information such as the status of fake vaccination certificates in dark web markets.
Ensuring the validity of the identity document upon which a biometric identity verification process is based, without adding too much friction, often means adopting a layered risk profile, said Intellicheck CEO Bryan Lewis. Biometric update in a sponsored article. The company has deep roots in spotting fraudulent documents and has found that even scanning the barcode of an identity document will not necessarily catch a fake if the unique security features are not validated in the digitization framework.
Fourth Line Financial Crime Chief Ro Paddock writes in a guest post on the Biometric Update about the ever-increasing sophistication of fraud attacks, which have reached the level of 3D masks and deepfakes generated by computer during the pandemic. In response, information sharing between organizations will be necessary to understand the scope of these new threats and how to defend against them.
The Philippine Election Commission has launched an app to allow people to pre-register online before registering their biometrics in person, as the country continues to digitize its public services. The governments of Pakistan, Haiti and Nigeria are also taking steps to improve the accessibility and reliability of their electoral processes.
A partnership between Research ICT Africa and the Center for Internet and Society, supported by the Omidyar network, to explore the development of digital identification systems for the African context is explained in a blog post. The project will be based on an adaptation of the Digital Identity Assessment Framework that CIS used to assess India’s Aadhaar system, with rule of law, rights and risk-based testing, and presented in a series of messages.
Details of Clear’s IPO plans have emerged, including his intention to raise up to $ 396 million on the NYSE. The valuation of $ 2.2 billion matches that of some comparable companies, by revenue multiple, but the lower voting power of the proposed shares could be a limiting factor.
An even bigger IPO could be staged by SenseTime later this year, with the Chinese AI firm looking to raise up to $ 2 billion on the Hong Kong Stock Exchange. The company has been talking about a public equity launch since before the company was hit with U.S. trade restrictions, which it says has had little impact.
Latest major digital identity funding round is largest to date, with Transmit Security raising $ 543 million at a valuation of $ 2.2 billion to expand the reach of its authentication technology biometric without password. The company says this is the highest Series A funding round in cybersecurity ever.
Bob Eckel, CEO of Aware and Director and Board Member of the International Biometrics + Identity Association (IBIA), explains why people should have their own identities, identify things and protect supply chains, and its experience in the implementation of air traffic control systems used all over the world with the Required Supply chain Next podcast. In the longer term, Eckel sees biometrics replacing passwords and, in the shorter term, being used to make processes contactless.
Veridium Technical Director John Callahan guides the biometric update through recent NIST guidelines on the interoperable use of contactless fingerprints with contact-based back-end AFIS systems. The guide, which changes definitions within the NIST ITL biometric container standard, but states that the associated image quality metric does not apply to contactless prints, could trigger an additional investment in the modality.
A new 3D time-of-flight imaging solution that could be used to implement facial authentication under the screen of mobile devices without notches or bezels has been developed by partners Infineon, pmdtechnologies and ArcSoft. Based on the REAL3 sensor and ArcSoft’s computer vision algorithms, the solution is expected to be available in Q3 2021.
Ping Identity acquired SecuredTouch in an agreement with undisclosed financial details to integrate its continuous user authentication based on behavioral biometrics with the PingOne enterprise cloud platform. Ping also launched a consumer app for reusable credentials and added unified management features to its cloud platform during its Identverse 2021 event.
Notre Dame-IBM Technology Ethics Lab Founding Director Elizabeth Renieris Joins MIT Sloan Management Review Me, Myself and AI Podcast to discuss the role of the lab, its past journey and through some of the key ethical developments in the digital identity space, and the need to take a long-term view of technology to understand its ethical implications. Renieris advocates for process-oriented regulation, based on the best understanding we have at the time.
ProctorU’s announcement that it will no longer sell fully automated remote monitoring services is seen as a victory in the battle against “the AI shell game” by the Electronic Frontier Foundation. Descriptions of the balance between automated and human decision-making by AI monitoring vendors amount to double talk, according to the EFF, before reviewing their human review processes, accuracy rates. and the use of facial recognition.
Please let us know of any podcast, article, or other content that you think we should share with the biometrics industry and the digital ID community in the comments below or via social media.
acquisitions | biometrics | biometric research | cybersecurity | digital identity | elections | facial recognition | fraud prevention | identity document | identity verification | investment | integration