Security & Fraud

BBVA, Das-Nano Form Biometrics Authentication Systems Company Veridas

BBVA, the New Yorkbased bank, and Das-Nano, the biometrics startup, are joining forces to create a new company called Veridas that is focused on biometrics for identification and authentication systems.

According to a report, Veridas is being led by Eduardo Azanza, the cofounder of Das-Nano. The company plans on engaging in the research and development of software that will be used for digital verification and authentication of personal identities via face, voice, fingerprint, image or document recognition. BBVA said in the report the formation of Veridas is a step in the company’s move to transform by seeking to develop the best experience for its customers where biometrics can play a big role. BBVA noted that the technology will enable it to “guarantee the authoritative identification of employees and/or customers remotely, which means simplifying the forms of access to off-site services and giving a new degree of security to transactions and interactions over digital channels.”

The report noted that BBVA and Das-Nano have had a relationship since 2015, when the two worked to jointly develop new projects in personal identity authentication. Das-Nano, which was founded five years ago, offers nanotechnology, biometric and digital verification solutions.

In addition to discussing Veridas, the report also noted that BBVA has been making strides in other areas of FinTech. It pointed to the company’s creation of a Global Patent Office to protect intellectual property in biometrics and artificial intelligence, and the company has recently chosen a winner for its “Open Talent Ideas” FinTech competition. The winner is Garanti Bank, which is located in Turkey and has developed a new mobile banking app. Meanwhile in May, BBVA launched its open banking program that enables eight of its APIs to be commercially available, marking the first time ever.

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