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Hamilton Reserve Bank and authID.ai Announce Deployment of Biometric Identity Authentication Services to Global Banking Clientele

authID.ai, a leading provider of secure, mobile, biometric authentication, announced today that Hamilton Reserve Bank (HRB), a fully regulated global bank with worldwide offices, has deployed authID.ai’s easy-to-integrate Identity as a Service (IDaaS) platform. HRB has deployed Verified, authID.ai’s biometric multi-factor cloud-based authentication product that offers the ease of a “selfie” to confirm identity, thereby eliminating the use of vulnerable one-time passwords and knowledge-based questions for securing transactions and account recovery.

Hamilton Reserve Bank serves a large and rapidly expanding worldwide clientele, supports customer activities in more than 150 countries, offering customer deposits in 10 different currencies. As HRB launches new digital banking services with the Temenos Infinity banking platform, authID.ai, a Temenos Marketplace provider, provides high levels of identity assurance to HRB and its expanding international clientele. authID.ai’s biometric identity products are helping HRB reduce operational costs associated with supporting password resets, mitigate security risks arising from stolen passwords, phishing, and account takeovers, and ultimately deliver seamless customer experiences that fully satisfy international standards for HRB’s insistence on best practices in AML/KYC/CFT compliance.

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“Hamilton Reserve Bank’s new digital banking platform makes it possible to achieve our mission of onboarding one-million new customers within the next 12 months, and authID helped us comply with rigorous regulatory programs through an automated onboarding product that accurately delivers secure, document-based identity verification and facial biometric matching of the customer,” said Prabhakar Kaza, CEO of Hamilton Reserve Bank. “Providing our valued customers with a seamless authentication experience was paramount to our growth. authID.ai’s device authentication has helped us eliminate passwords, and its cloud-based biometric authentication is securing outgoing SWIFT wires and beneficiary changes. We look forward to expanding our collaboration with authID and Temenos to support our rapid global expansion into new markets.”

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In addition to deploying Verified, Proof by authID.ai delivers automated identity verification during digital onboarding of HRB’s global clientele, including quick mobile identity document capture and authentication, liveness confirmation, and facial biometric matching of a selfie to the credential photo. To provide a more secure and seamless login experience, AuthentifID offers FIDO2 password-less login and strong customer authentication with cryptographic security and compliance with PSD2 requirements, a critical need for international banks.

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“Everything starts with trusted identity,” said Tom Thimot, CEO of authID.ai. “Our identity platform offers innovative solutions that are flexible, fast, and easy to integrate. authID.ai is committed to helping banks across the globe reduce the risk of identity fraud, eliminate the costs and hassles of passwords and ultimately deliver seamless authentication experiences to their customers.”

“We are pleased to see authID.ai, a Temenos Marketplace provider, launch its identity services integrated with Temenos Infinity at Hamilton Reserve Bank,” said Martin Bailey, Director of Innovation and Ecosystems, Temenos. “We carefully consider and curate a community of best-in-class fintech solutions that complement Temenos software to create the Temenos MarketPlace. authID.ai’s innovative biometric solutions will enable Hamilton Reserve Bank to not only combat identity fraud but simplify and streamline the customer journey with Temenos Infinity.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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