IdentityMind Global, a risk management and compliance vendor, will offer document authentication technology from Confirm.io to its financial services customers so they can allow consumers to open accounts with mobile devices.
When people snap a photo of their driver’s license or other ID while signing up for services, Confirm.io’s application programming interface pings various databases to check that the document is legitimate. Clients can build their own verification apps using Confirm’s software development kits.
Trusting a digital identity “requires strong validation of the underlying identity attributes,” Garrett Gafke, IdentityMind’s CEO, said in a press release.
The firms’ combined offering “delivers on the promise of a frictionless user experience that provides the ability to understand and guard against risk while also keeping customers happy,” he said.
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The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.