Embedded banking software firm Treasury Prime has teamed with fraud, identity and security platform Footprint. The partnership, announced Tuesday (May 28), gives banks and their FinTech clients access to Footprint’s know your customer (KYC) and know your business (KYB) technology. “Banks increasingly recognize that a...
Mastercard and the African Development Bank Group formed an alliance to provide digital access to critical services to 100 million people and businesses in Africa over the next 10 years. The first efforts of the organizations’ Mobilizing Access to the Digital Economy (MADE) Alliance: Africa will include providing digital identities and access...
Today’s rapidly evolving payments and financial landscape brings with it both challenges and opportunities. And the challenges and opportunities center around effective authentication, as the need for advanced security measures to keep pace with the evolving payment methods and fraud tactics becomes an imperative. That’s what Gerhard...
Worldcoin, the eyeball-scanning digital identity startup co-founded by OpenAI CEO Sam Altman, has been ordered to cease its operations in Hong Kong. Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) said in a Wednesday (May 22) press release that it has directed the organization to stop scanning and collecting iris...
Staying one step ahead of the bad guys is becoming more difficult by the day for financial services companies. For example, identity verification is a double-edged sword. While necessary for security, it can also create friction in customer experiences. But as identity fraud continues to...
Decentralized identity startup Humanity Protocol said it is now a $1 billion company. The firm announced the private valuation in a Wednesday (May 15) blog post as it revealed the completion of a $30 million seed round. The company said the funding will help it challenge Sam Altman’s Worldcoin and accelerate hiring and...
Microsoft’s decision to ban police departments from using its Azure OpenAI Service for facial recognition reflects the technology industry’s struggle to balance the promises and perils of artificial intelligence (AI). The move signals that Big Tech companies are increasingly enforcing guardrails around AI systems amid...
Payments firm Orum has debuted a tool to help clients prevent failed payments. No Code Verify, announced Thursday (May 2), lets businesses and institutions determine if a bank account is open and valid before initiating payments, Orum said in a news release. It’s an extension of the...
You’ve likely heard of digital driver’s licenses, digital passports, and digital IDs. Now, digital birth certificates are emerging as the latest addition to the digital identity landscape, offering a glimpse into the future of identification and authentication. An ongoing pilot program in New South Wales (NSW) in Australia...