• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Veridium Awarded $150,000 Grant For Economic Inclusivity Research

June 22, 2018

“Our goal is to help design a new banking model, using our biometric authentication technology to bring the unbanked into the financial services system. Additionally, over time, improve their circumstances, making it possible to open a bank account, apply for credit, and achieve a level of financial stability.” – Lori Cohen, CMO, Veridium

Veridium has been awarded a $150,000 grant for research into how mobile biometrics can be used to extend economic inclusivity in emerging countries.Veridium Awarded $150,000 Grant For Economic Inclusivity Research

The award comes by way of Digital Financial Services Lab (or “DFS”), a FinTech accelerator organization focused on emerging markets; and with the support of the Bill and Melinda Gates Foundation. DFS previously awarded Veridium a grant in September of last year for work exploring how biometric authentication can be performed with a standard Android smartphone camera, and this latest grant is aimed at further supporting Veridium’s work in this area.

Dubbed “4 Fingers Export”, Veridium’s solution revolves around fingerprint recognition, but with an unconventional approach. The aim is to facilitate biometric authentication even on Android devices that don’t have embedded fingerprint readers, and to that end Veridium’s solution is designed to capture four fingerprints simultaneously using a smartphone’s camera. Those fingerprints can then be matched against government databases, which would allow the system to be used for KYC purposes in areas where access to physical bank branches is limited.

Veridium has already taken this camera-based fingerprint scanning approach to Europe’s financial services sector, proving its viability; now, as Veridium CMO Lori Cohen explained in a statement, the company aims to use its latest DFS grant “to help design a new banking model, using our biometric authentication technology to bring the unbanked into the financial services system.” Cohen added that over time this technology could help the previously unbanked “to open a bank account, apply for credit, and achieve a level of financial stability.”

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: 4 Fingers Export, Android, banking, Bill and Melinda Gates Foundation, Biometric, biometrics, Digital Financial Services Lab, economic inclusivity, Fingerprint, grant, mobility, unbanked, Veridium, Veridium ID

Related News & Articles

Car Dealerships Fight Fraud with Intellicheck Identity Verification

Embattled Selfie Onboarding Specialist Nets Certifications Amid Layoffs

Yoti Praises UK’s Principled Approach to Digital ID

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • MDL, Digital ID Gain Momentum in State Efforts
  • Brazil-based Selfie Onboarding Startup Reports 250% Sales Jump, Global Expansion
  • ‘All Partners Remain Committed’ to Digital Travel ID Project: Transport Canada
  • North Carolina DMV Seeks Political Support for MDL
  • The Road Ahead for Biometrics and Identity Online Summit

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld