Adviser platform Novia has partnered with a technology firm to introduce biometric, facial recognition verification on client documents.
The technology, which is provided by identity verification experts Credas, verifies that a document truly belongs to the person making the transaction. It offers real-time ID document scanning and chip-reading, combined with identity and facial recognition technology, to speed up document identification in line with regulations. Clients who have historically required copies of ID and bank statements to verify their identity will instead be invited to "take a selfie" followed by a picture of a photographic identity document. The technology works by calculating distances between key fea...
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