Three security tiers are available, each offering protection for customers and financial organisations against fraud
SmilePass has revealed a cloud-based biometric security solution that will enable financial businesses to better secure themselves and their customers against fraud.
SmilePass uses selfies to verify a customer's identity via easy to use apps. SmileCheck has been designed for checking a customer's location or presence with geo-tracking, while SmileSafe is the mid-level option for mid-level security applications such as ID verification, financial transaction approvals and insurance claims. SmileSafe+ is the top-tier option, which offers the same anti-spoofing technology and deep learning biometrics implemented in passport registrations, providing a stricter security fence.
All three technologies work on the basis of using selfies for authentication. When user snap a photo of themselves, it's matched to the facial features on file, using deep-learning and face-matching technology combined with tokenised verification and server-based security validation.
“As we leave the analogue world behind, cyber crime will become one of the greatest threats of our time," Grant Crow, CEO of SmilePass said. "This is particularly true for banks and insurers, who will increasingly look to biometric authentication as a tool to combat social engineering and fraud.
"After years spent understanding the potential, and current weaknesses, of biometric authentication, we’re confident that SmilePass is a robust solution equipped to protect businesses and their customers from social engineering and fraud - and help biometric security reach its full potential in the process.”
SmilePass' technology was developed to address the growing threat of insurance identity fraud, which grew from 20 in mid-2016 to over 2,000 by mid-2017 according to Cifas. The fraud prevention agency explained UK insurance businesses are investing more than £200 million a year to fight fraudulent activity.