Eyeball tracking enhances biometric capability and reduces opportunity for fraud
PALO ALTO, CALIF. and LONDON – July 18, 2017 – Jumio, the creator of Netverify™ Trusted Identity as a Service (TIaaS), today announced the addition of eyeball tracking to Netverify’s biometrics capabilities. When verifying an identity, in addition to conducting a “liveness” check to ensure a real person is holding the device, Jumio will require users to follow an icon on the mobile device screen with their eyes as it moves in a random pattern. This technology will be available to all Netverify users, including banking institutions, sharing economy providers, online gaming and travel companies.
Javelin Research reported a 16 percent increase in identity fraud in 2016, impacting a record 15.4 million victims in the U.S. alone. As more businesses and devices (mobile phones, ATMs, etc.) add biometrics capabilities like fingerprint and iris scans, fraudsters are finding new ways to “hack” these technologies. Eyeball tracking sets the bar even higher, making it incredibly difficult for hackers to imitate.
“Fingerprint and iris scans give consumers a false sense of security. Just in May, hackers demonstrated they could beat the Samsung 8 iris scan,” said Philipp Pointner, VP of Products at Jumio. “This is a technology arms race. The addition of eyeball tracking makes it exponentially more difficult to imitate someone you’re not, giving businesses and consumers a higher level of trust.”
Last year, consumers in the U.S. made purchases worth $47.6 billion via mobile payments. And this trend is accelerating. Mobile wallets are projected to out-pace the use of credit and debit cards by 2020, according to WorldPay. Mobile purchases create an environment where “card-not-present” fraud is a real threat for both businesses and consumers, whose identities may have been stolen. To reduce risk of fraud, Jumio pioneered a hybrid approach to verification that incorporates checking ID (government-issued documents), identity (biometrics and eyeball tracking), and documents (bank statements, utility bills, etc.), as well as scrutiny from real identity experts in addition to automated technology.
“The addition of eyeball tracking makes Jumio’s Netverify the most sophisticated ID verification solution in the market,” said Stephen Stuut, CEO at Jumio. “As businesses increasingly rely on mobile interactions with their customers, it is critical that they have a way to meet Know Your Customer requirements, while keeping the user experience frictionless. Jumio seeks to both combat fraud, which can cost businesses time and money to track down and remediate, while delivering a simple, fast experience that consumers expect.”
Jumio, the creator of Netverify® Trusted Identity as a Service (TIaaS), enables businesses to increase customer conversions while providing a seamless customer experience and reducing fraud. By combining the three core pillars of ID Verification, Identity Verification and Document Verification, businesses now have a complete solution that allows them to establish the real-world identity of the consumer.
Leveraging advanced technology like biometric facial recognition and machine learning, Jumio helps customers to meet regulatory compliance including KYC and AML and tie the digital identity to the physical world. Jumio has verified more than 60 million identities issued by over 200 countries from real time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, higher education, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in the US and Europe, and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com
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